Jay Honeck wrote:

I agree. If you can't afford to buy it in cash, you're courting trouble
when the inevitable "oh, ****" repair happens.

I disagree. In fact, the only time you're courting trouble is if you use up most
of your ready cash buying the plane. Whether you take out a loan or not, it's
important to have a few thousand available for repairs. The more expensive the
plane is, the more you should keep back for emergencies. My rule of thumb is that
10% of the aircraft value should be a sufficient emergency fund.

George Patterson
Great discoveries are not announced with "Eureka!". What's usually said is
"Hummmmm... That's interesting...."