ANSWERS: 10
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Depends on where you live. In New York City, a definite liability. Out in the suburbs, an asset.
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Both, even legally I think..
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Liability
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Depends on the car and on your need for owning one.
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It's a financial and convenience asset ... and can be a big liability if you get into an accident.
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It is an asset when you have old people at home and youngsters who need a drop to school.Otherwise I prefer my bike!
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From a financial standpoint a personal vehicle is a liability. It brings no income in itself. If the vehicle were a taxi it would be an asset as it would be income-producing.
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From property-sense, it is an asset. For insurance-sense, it is a liability.
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Depends on whether or not you own it outright or have a lien on it.
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Depends on where you live. In San Francisco, a liability. p { text-indent: 2em; } In the suburbs, an asset. In the stix, miles out from a small village on a dirt road where public transport is about half an hour away (like me)... a necessity.
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