On the flip side of this, if you are in your retirement age with more than enough money to life your life comfortably and just don't want the payment, then by all means pay cash. It may not be the smartest decision financially, but the whole point of your investments at a young age is for you to live off of them and enjoy them when you are older.
As I told my father many years ago when he was making his will and asked me what I wanted. I told him nothing of value other than a few family items that are worthless to anyone else, and to use his money to live on and be happy in his remaining days. Although the exact words I used were "I don't care if you use your money to snort cocaine of a hooker's ### in Vegas if it makes you happy, just as long as you are using it on what makes you happy and have enough to live on the rest of your days. You earned the money, you use it. Don't worry about giving any of it to me."
