That’s right! Believe it or not, it can be done.
Most of us finance our vehicles. Let’s say you buy a $10,000 car at 5% over the next 4 years. Your payment will be $230 per month. Where do you send that money? That’s right. Every single month, you send your payment to the lender or banker who capitalized the purchase of your automobile.
At the end of four years, the bank has their $10,000 back plus an additional $1040 in interest that you have paid.
What are you left with? The depreciation value of the car. Let’s say that’s $4,000. Then you begin the process again. That’s why we generally refer to an automobile as a liability.
If YOU owned your own banking system, once it is capitalized, you can borrow from your own bank. The $230 payments will go back into your coffers. At the end of the four years, what do you have in this scenario?
You still have the depreciation value of the car. But now, because you are the banker, you also have your $10,000 back and you have the $1040 in interest. So if you add that all up, you have $15,040 in assets directly related to the purchase of that car.
Very intriguing, don’t you think?
Contact Me for more information about the Infinite Banking System, where you can turn liabilities into assets!