"Found the perfect car and just had to buy it", a close friend said to me today.  I just nodded and went back to telling him how he was a noob and would not amount to much.

Quite seriously though, he thought he was buying an asset.  Told me it was a classic and with a little work, it was going to be worth tons.  It's a depreciating asset, I told him.  Silly noob just kept denying it.  Cars are depreciating assets, so are boats, jet-ski's, and even tools. 

I told him, "If you want a asset, try buying coins, comics,  houses, or antiquities - not cars". 

Ya, I suppose if you can get your hand on a 67 fast back or something you might have an appreciating car on your hands, but who has those laying around for what Joe Schmo makes a living on?

Take it from me - if you can't pay cash for it, don't buy it.  If it's not an asset that produces income or appreciates, it's a liability.  Don't buy it.  Unless it's a game. ;)