Originally Posted by artm
What ever happened to paying for a car up front? "Saving" is not a four letter word - except perhaps in America!
I've got 2 masters degrees in (MBA and finance) and I still borrow money for cars. Other posters have already said it, but if you're a) aggressive with your investments (75% equities or so), and b) disciplined about saving for other needs, then it can make sense to borrow the cash. I just financed my LR3 at less then 6% for 4 years. I expect to earn 8-12% on my investments since I am very aggressively invested. $50k at 2-6% interest differential isn't a ton of money but it does add up.
That said, if you finance a toy because you don't have the cash then I might agree with you, but it would depend on a whole lot of other factors as well.
When my career was first starting to come together, I was making good money but didn't have a lot of savings. I could sock away enough to take care of future needs and still have money left over for a toy. That's when I bought my Defender, and I financed it. Paid it off in about 12 months.