Leasing a car means you put a smaller down payment (usually 10% of the car price) and take a loan for the rest of the amount from your bank. Leasing a car is a very common practice now. People lease a car very often whenever they get a pay raise.
But Do you Know that, a minority of millionaires & true wealthy people ever lease a motor vehicle?
Yes…. You may be surprised by knowing this but this is true. only a minority of millionaires and wealthy people in this world every leas a car. Most of the true rich and wealthy people never go for car finance option. These people give first priority to the Financial Freedom rather than showing a high status life style.
In initial years of their lives, they only focus on accumulating wealth. And that’s why they may sometimes buy a second hand car also during the first decade of their earning life. Most of the people in this world remain middle class and struggle financially because they lease a car even before building a serious wealth.
A Car is not an Asset. An asset is something which will appreciate in its price over the time. A newly bought car will loose more than 60% of its value within first 4 years from you buy. While a true rich & wealthy people buy assets first in their life. These people give first importance to accumulating wealth rather than showing high status life style.
If you want to be true rich and wealthy in your life than you should not focus behind leasing a car. You have to first focus on creating a serious wealth. You have to focus on accumulating more assets in your life and not the high status symbols such as expensive cars, mobiles and watches…
Remember, a true wealthy person first accumulates wealth and than buys a car once his/her assets grow sufficiently and start throwing passive income for him for the rest of his/her life…!!!
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