Right now, the economy of the whole world hangs in a tight balance. In some places, the conditions are better whereas they are worse in other places. The dollar keeps rising and falling against the rupee by quite a margin. If we look at how much the fuel price used to be in 2020 and now, we would be quite shocked! Thus, an important decision comes to find when thinking about saving money.
One of the best reasons to buy a car in Pakistan is that they retain their purchase value. If you were living abroad, your vehicle might devalue over time by a big margin. However, in Pakistan, cars can be considered as asset. They are considered something that a person can purchase and mature over years, so long as there is no major damage to it.
Money Investment In Pakistan
Thus, here we are facing an important decision when it comes to investing our money. Should we save the money in PKR or should we buy an invest in a car? Of course, if we buy too old a car, then we might be going in a loss over time because any car older than 20 years requires maintenance. However, PKR is also devaluing currently. What Rs.1 Lac meant in 2021 is not the same as in 2023.
Thus, if you have more than Rs.5 lac sitting and you are looking to invest them somewhere wisely, purchasing a car with a high re-sale value can be a wise decision. You will have an asset on your hands, and a vehicle of your own for driving. Finally, the high re-sale means that you will be able to sell it at almost the same or a slightly higher price when looking to upgrade.
How to Keep Investing
Once you have sold your first car, you can put in a little extra in the money and then get another newer model in exchange. Thus, this cycle of upgrading can continue and you can experience other vehicles to drive as well. Thus, if you have money saved up and you are looking to keep saving, do not keep it only in PKR. Keep an emergency fund in PKR but also invest in something.
A car can be a safe investment if taken care of properly.
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