This reminds me of when this guy started talking to me about my car and said "You have to be a millionaire to have one of these" and my response was "not really" but then I thought for a second and said, "but it doesn't hurt if you are".Few million dollars.
Nothing wrong with your approach. All the different points of view are helpful for perspective buyers. Then each of us can decide what's best for his or her situation factoring in his or her risk tolerance.I guess I’m in the far end of the spectrum.
I don’t have my home paid off I don’t have millions but I’m a car guy who set goals for my self.
I purchased a 2011 gtr owned it for 4 years and only lost 13k I was able to sell and pay for my Superleggera with a huge down payment and have a payment similar to owning a gtr.
Rates were low I was able to pay off early but watching the Superleggera market for years prices haven’t changed much.
Also I only like white cars and an 08 SL in white is a rare find so had to jump at the opportunity.
I think I can always sell for more than what I paid. There is only two stock white SL’s left since others are heavily modified or totaled.
As you and most people on this forum know that's the way I prefer to fly but to each their own.Some people say it's OK to have payments/mortgage with low interest rates and invest the cash but the fact of the matter is those payments with interest are there month in and month out, rain or shine. Regardless of how low interest rates are and how much one can deduct, interest is interest.
No investment is 100% guaranteed. The market is as volatile as a roller coaster. Real estate is boom or bust. But that mortgage/car payment is over your head always.
Some people can be lucky with car depreciation. Buying used with the original owner taking the brunt of depreciation is a wise choice. I lost very little on a 991 GT3, got out of it when used examples were trading near MSRP. But, if looking at one's cumulative/lifetime car ownership history it's invariably a losing proposition unless one is investing in million dollar classic cars i.e Ferrari 288 GTO's and even then the market can soften like fine art.
For me, living debt free is a liberating experience.