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Lonnie Glosup
Member Since: 6/11/2011
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Lonnie Glosup   My Press Releases

Your Financial Vehicle Versus The Traditional Vehicle

Published on 9/17/2018
For additional information  Click Here

I have loved vehicles from a very young age, yet I have not always liked what can be involved in buying and/or selling a vehicle.



There was a time when a reliable motor vehicle was an essential part of achieving the American Dream.  As the average price of vehicles continues to rise (The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $36,270 in January 2018) the Millennial generation is questioning the need for car ownership.  I know of a 27 year old that just got his drivers license and purchased a $12k Nissan Versa in order to make his work commute a little easier on himself and his family members.


With current pricing of vehicles, it becomes less likely for people to be able to pay cash so financing becomes the norm.  Most finance sources want to see a 10% down payment commitment, so on a $15k vehicle the purchaser could be asked to come up with $1,500 or more.  Excellent credit can allow people to purchase with a lower down payment, yet it may not be the best financial choice.


As more people are working online there are many that are choosing to work from home (or anywhere else they choose) ... and with the availability of services like Uber and Lyft ... it is now making more sense for people to put more value into their financial vehicle rather than the traditional motorized one!



If you are building an online business you may have had people tell you that they cannot afford the start up cost of a home based business.  So keep in mind what many people do in order to acquire a car/truck and help them see the cost/value a motorized vehicle versus a financial vehicle.  The typical motorized vehicle is mostly a liability in that it can depreciate in value as quickly as the payoff of the loan (have you ever heard of anyone having "negative equity" in their vehicle?). With the cost of insurance the benefit of auto ownership is even less desirable strictly from the financial equation.  And most people do not get to use their auto as a tax deduction when working a traditional (W4) job.


So the next time someone says they cannot afford to cover the acquisition (front end) and operating expenses of an online business it might be insightful for you to share with them that the financial vehicle you are providing can be more attractive than their motorized vehicle.   A well structured financial vehicle could be started for under $500 of front end expense and could begin to generate earnings within days of getting started.




If you like this comparison then message me for even more insights ... and calculators to show the many advantages of having a properly structured home based business.


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