Having a car can either be a liability to one or an asset, it depends on so many reasons for it to be a liability or a asset.

If a person owns a car and the use of the car is beneficial to him in the sense that it aids is day to day activities more easily and also serves as a means through which he gets his income then the car is an asset

But if one owns a car and the cost of maintaining the car and all is much higher than the income the car brings or if the car doesn't bring an income then such a car is definitely a liability to the owner