Getting a loan, would you?

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Originally Posted by m1903a3

I would and I did. I wanted to buy a very expensive Navy which I would likely never have another chance to own. I had no mortgage, car loans or credit card debt. I didn't want to take an IRA distribution because it would have been taxable income and it was also appreciating where it was. Financially, a low interest rate loan was by far the most logical choice.

I think Mike's experience is instructive. His story is IMO another way of saying "it depends" to answer the question of is debt OK or not for a purchase. His story is an example of where debt might make sense - as a way to keep the total cost of ownership down.

The key question is, do the benefits (appreciation and the satisfaction of ownership) exceed the borrowing costs? In the example quoted, it appears they did and borrowing was a rational choice.