Cars as financial assets

Cars are a status symbol in India. We consider it a matter of pride to own a vehicle from our hard-earned money, and why shouldn't we?
The problem lies in:
Most people buy cars, but they only use them a small amount of time, and their cars rest in their garages for the most time and depreciate.
Some older people have cars that they stop using for the most part after they retire, and a working vehicle sits and accumulates dust.
The young working-class frequently do not have enough funds to buy a car at once and need to take up debt - EMI plans or loans from banks.
The number of cars on the road keeps steadily increasing, which increments the load on Road and Traffic Infrastructure.
Cars are a rapidly depreciating asset that loses up to 50% value in 3 years, which means a high per-Km cost to the owner.

Pre-existing Transport Options exist but are not viable for everyone.

Everyone wants their car as: -
It is inconvenient to match your schedule and boarding location to that of a bus or a train, missing which can cause a huge problem.
Ride-hailing options such as Uber are costly, sometimes unsafe, frequently unreliable, and even unavailable in many tier 2 and tier 3 cities.
Public Transportation such as buses, trains, cabs/taxis is a privacy and security risk, sometimes significantly so for female passengers. Busses packed with passengers are a COVID risk, amongst other prevailing issues like passengers' poor hygiene, noise, and an overall uncomfortable experience.

Nothing beats the convenience of having your car ready for you any second of the day. Since we cannot overlook hygiene in the Post COVID-19 Era and as these public transport options carry the risk of contracting various diseases, this makes private, self-driven transport a safer, more convenient, and comparatively much attractive option.