I agree with SV Bacchus. My dad is a strict "no borrowing except for real estate" guy. But after his time in Thailand
serving in the Air Force, he came home to 15% + interest rates. Go ahead and run an amortization schedule on a 15% loan! I'd feel the same way. He had 3 old cars in the driveway. One was always broke down, so he had redundancy to get to work
. He spent weekends tooling with them. I learned to work
on cars (thank you, dad) and learned I really hated spending my weekends working on them. Needless to say we have different lifestyles. I bought an older boat
and I've spend several weekends working on it. If I knew what boat
I wanted for the next 10-20 years, I'd buy new or as close to new as possible. I know when it's time to sell, it will still have value.