An entrepreneur and content creator is now sharing his regret of buying a luxury vehicle as its resale value had dropped drastically after just 3 years.
The Intraday founder, Moshed Mohamad, took to his TikTok page to reveal how he had sold his Mercedes G-Wagon for RM670,000 after purchasing the vehicle for RM1.45 million just 3 years ago. That’s a RM780,000 drop from its initial value.
Moshed Mohamad wrote, “It’s true what people say, cars are not assets but expensive liabilities.”
“Back then, when I first bought (the car), I felt proud. When I used it, I enjoyed it. But only when I resold it did reality hit me.”
“The excitement only lasted a little while”
He went on to share how, before he owned a luxury car, he desired a luxury car whenever he saw others driving one.
During that time, he asked himself, “When will I get a car like this?”.
Then, he arrived at a point in his life where he could afford a luxury car and decided to take the plunge.
“But, after buying (a luxury car), the excitement only lasted a little while.”
He also advised the younger generation to think twice before buying luxury cars, especially if youngsters who cannot afford luxury cars buy one for appearances.
“I’m not faulting anyone, because I too had the same mindset. But, once I’ve experienced things for myself, I started reevaluating (my decisions),” he said while adding that he has more freedom now that he’s sold his luxury vehicle.
You can check out his post here.
What do you think about this? Do feel free to share your thoughts in the comment section.
