Some readers might remember my blog post on getting a new car some two years ago. I might not have revealed then but I did not take a loan for that purchase. It was the first time that I bought a car without the help of a loan and this is the way I like it. So, my car is an asset, a depreciating asset but still an asset. Some asked me why I did not take a loan since interest rates are so low and I could invest my money for higher returns? This is a dangerous way to think, in my opinion. The returns from my investments lack certainty but the required monthly repayments to the lender are dead certain. Borrowing in order to finance personal consumption is not a good idea, is it? A car is for personal consumption, is it not? Well, sometimes, we really need a car for various reasons and what ......