Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Is a car loan bad debt?
Good debt and "Bad debt" are just judgement calls.  Each person has their own opinion on when it is acceptable to borrow money for something, and when it is not.  For some, it is never acceptable to borrow money for something; they won't even borrow money to buy a house.  Others, of course, are in debt up to their eyeballs. All debt costs money in interest.  So when evaluating whether to borrow or not, you need to ask yourself, "Is the benefit I am getting by borrowing this money worth the cost?" Home ownership has a lot of advantages: For many, these advantages, coupled with the facts that home mortgages are available at extremely low interest rates and that home mortgage interest is tax-deductible (in the U.S.), make home mortgages "worth it" in the eyes of many. Contrast that with car ownership: For these reasons, there are many people who consider the idea of borrowing money to purchase a car a bad idea.  I have written an answer on another question which outlines a few reasons why it is better to pay cash for a car.