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Familian (OP)
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April 08, 2024, 12:56:45 PM
 #1

The  recently days hasn't been a cool one for me adding to how usually choked my daily schedules are, am having a real time challenge contemplating forth and back on what choice to make. Am an industrious woman with different income streams, among others is that am also an employee in a private company. I have this car I gave out for a transportation business as a taxi to a driver whom I contracted with to remit an agreed cash amount each weekend. This has been going on smoothly as I can recall, it's been fetching me profits with the car in good shape for the past years.

Painfully for months now the car has been developing series of faults and it hasn't been rosy anymore with profit no more getting in as it were. Having spent much money fixing different faults with lesser gains due to resurgent repair faults developing again and again. I have been reflecting seriously on selling off the car use the money to add to my bitcoin investment portfolio as the repeated repairs has left me with no choice despite how the transport business has been profitable before now. I feel as though am impatient with the whole bearings. I need your suggestions, is it necessary I sell  the car to add the money to my portfolio  when currently I do have a fine amount of portfolio with my bitcoin investment. As a business woman am worried cutting one of my scattered source of getting money by selling off the car.
please help with your thoughts.
Aanuoluwatofunmi
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April 08, 2024, 01:22:52 PM
 #2

Having spent much money fixing different faults with lesser gains due to resurgent repair faults developing again and again. I have been reflecting seriously on selling off the car use the money to add to my bitcoin investment portfolio

If the car is no more bringing in profits again no matter how little, then the best idea is to sell it off, but as an economist, you will also have the option of choosing whether to buy another car and continue with the business or go for bitcoin, but i think it is more important that we don't put all eggs in one basket.

I need your suggestions, is it necessary I sell  the car to add the money to my portfolio  when currently I do have a fine amount of portfolio with my bitcoin investment. As a business woman am worried cutting one of my scattered source of getting money by selling off the car.
please help with your thoughts.

Every decision you made here has its own advantage and disadvantages, remember the car can at least fetch you a daily income even though it has not been as before, bitcoin is a good and better investment to go for, considering you are holding for long, and that you may not have any source to daily income again after selling your car to invest in bitcoin.


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peter0425
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May 05, 2024, 04:56:11 PM
 #3

Painfully for months now the car has been developing series of faults and it hasn't been rosy anymore with profit no more getting in as it were. Having spent much money fixing different faults with lesser gains due to resurgent repair faults developing again and again. I have been reflecting seriously on selling off the car use the money to add to my bitcoin investment portfolio as the repeated repairs has left me with no choice despite how the transport business has been profitable before now. I feel as though am impatient with the whole bearings. I need your suggestions, is it necessary I sell  the car to add the money to my portfolio  when currently I do have a fine amount of portfolio with my bitcoin investment. As a business woman am worried cutting one of my scattered source of getting money by selling off the car.
please help with your thoughts.
Either way you want to spend your money, I think you should sell the car.

If like you said it is just giving you headaches and pain then it must not be doing good anymore. The transport business is good and can give you a stable income which is something you’re not going to get from holding bitcoin. Personally I’d just sell the car and buy bitcoin if it’s not too much of a hassle. I mean yes it’s not giving you profits but can it still be useful for other things? Do you regularly use it to go somewhere or you have different ways to go to another place? Those are some questions you can ask yourself.

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boyptc
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May 05, 2024, 11:05:17 PM
 #4

If you want to sell it, sell it.

Did you and the driver have been taking the periodic maintenance for specific miles of that car? Because it not, the wear and tear parts of it will certainly going to give you more cost and headache.

It's easier to maintain maintenance than to wait for its wear and tear to come for replacement and actual repair.

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rodskee
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May 10, 2024, 05:50:37 AM
 #5

You entered a business that you don't fully understand or at least this is the first time that you owned a car?
you mentioned that the car generated a good revenue for years but you did not invested for its maintenance or at least
did not bother to expect that the car will come older and you must have another plan after that , because if you maintained
that car rightfully then you must not facing these kind of problems now so better sell that car and get a new one before
that business drained you completely.

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kotajikikox
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May 10, 2024, 09:54:18 AM
 #6

If i am in your position I think I will be needing to dispose that car because it is old and  also that is a burden for you so better to take that out of your system.

and also  whenever you wanted to enter that kind of business better that you also knew how to do repair because when the car gets old that will be very expensive  and maintenance kills business like car rentals.

I use also to have my own Motorcycle rental and that issue what made me stops operating because i know nothing about repair.

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May 10, 2024, 11:39:05 AM
Last edit: May 10, 2024, 12:17:56 PM by Betwrong
 #7

The  recently days hasn't been a cool one for me adding to how usually choked my daily schedules are, am having a real time challenge contemplating forth and back on what choice to make. Am an industrious woman with different income streams, among others is that am also an employee in a private company. I have this car I gave out for a transportation business as a taxi to a driver whom I contracted with to remit an agreed cash amount each weekend. This has been going on smoothly as I can recall, it's been fetching me profits with the car in good shape for the past years.

Painfully for months now the car has been developing series of faults and it hasn't been rosy anymore with profit no more getting in as it were. Having spent much money fixing different faults with lesser gains due to resurgent repair faults developing again and again. I have been reflecting seriously on selling off the car use the money to add to my bitcoin investment portfolio as the repeated repairs has left me with no choice despite how the transport business has been profitable before now. I feel as though am impatient with the whole bearings. I need your suggestions, is it necessary I sell  the car to add the money to my portfolio  when currently I do have a fine amount of portfolio with my bitcoin investment. As a business woman am worried cutting one of my scattered source of getting money by selling off the car.
please help with your thoughts.

Definitely sell the car if that car brings you so many difficulties, but regarding investing in Bitcoin right now I'm not sure. It's risky as always, and no one can tell you whether you will make money from that in the nearest future. I do believe that Bitcoin will be worth much than today in 10 years, but that's a long time and, of course, I'm not 100% sure.

EDIT: I mean, don't invest the money from the sold car in anything else either. There's a big chance of those investments being worse than Bitcoin. Just spend the money on yourself, on good food and nice clothes ... Live a little.

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