BMW had 1.9% interest for a good portion of the life of the M3. if you finance $60k for 5 years at that rate, that's a little less than $3k in finance charges over the term over the loan.
so let's say you had $60k in cash in 2009 and you decided to buy the car outright. good for you. but if you just financed the car and threw your $60k into an S&P index fund, you would be sitting on $120k right now.
saying financing is always stupid is, well....stupid. YMM always V