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Maithri k

Hey I am on Medial • 1y

My sister owns a startup She took gold loan at the beginning of the company for investment. Later after few months she took loan for working capital. Now she is planning to buy vehicle and asking whether she can prefer to take another loan or not. It's is 9 months of start of the company, we are not in lose ofcourse, but we didn't even made much of profit yet

7 Replies

Replies (7)

SHIV DIXIT

CHAIRMAN - BITEX IND... • 1y

Focus on profitability and then buy anything

Mota Bhai
•

Jio • 1y

Increase your profit first a car is an depreciating asset. Put that profit money to further expand your business

Nawal
•

SELF • 1y

Nah . Wrong move

Anonymous 2

Hey I am on Medial • 1y

Your assets should generate cashflow before your liability demands an outflow. Ask this question and if the answer is Yes, then you'll be in a much better position to evaluate. Taking another loan is not a good idea though.

Anonymous 1

Hey I am on Medial • 1y

What’s the business tho? Would suggest not buying a depreciating asset while you’re break even

Arjun Ruparelia

Freelance Writer for... • 1y

Most responses here make sense. Your business needs cash to grow. A fixed cash outflow right now could hurt your growth and increase the risk of running into a cash crunch. But let's assume your sister NEEDS the car. In that case, I suggest buying a smaller car, preferably a used car from a trustworthy source. Buy it in your company's name of course to claim depreciation and interest expenses.

SamCtrlPlusAltMan
•

OpenAI • 1y

Tell her to buy the car to Lease it to Ola Or Zoomcar, It would be better

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