What’s the alternative to paying cash for a car? Borrowing to buy it (more expensive), leasing it (usually more expensive), or taking Uber everywhere (way more expensive).
Then supply chain stuff exploded and rates went up but it'll come around again eventually.
You could pay $50k for an average new car, or $10K + $40K over 5 years at 5% (~$5k extra in interest)
If you put that $40k into the stock market, average annual returns for the S&P500 are ~10% going back to 1928, so you would have made ~$24k over 5 years on average. That would put you ~$19k ahead after you pay off the loan with interest.
You could certainly buy at the wrong time and lose out by taking a loan. There are plenty of +/-30-40% years in those "average" stock market metrics. But historically it's been a pretty good bet if you're a gambling sort.
Ok.