Hard to know for sure what the best way to go is, for me less payments or ending the payments is my preferred route. I paid off my tractors last month and think I will wait a while before adding to the collection. No payments is a good thing imo.
I don't think that payments are necessarily good or bad. The key lies more in how they are managed and in keeping payments within a reasonable range given income levels, stability of income and other commitments. Essentially to pay cash for something we have, in effect, made payments to ourselves over some period of time, in order to have the cash available. Unless one is very self disciplined these informal payments can get sidetracked. These days with many things available on the basis of 0% for X months, certainly an argument can be made, this might be a viable option.
For example, let's use Markcuda and the new X534. For easy math, let's assume the final cost is $6,750 out the door and Mark can easily afford $100 month and also that somehow he has saved $6,750. He has two options - pay all cash or pay $750 down and $100 a month for 60 months and still have $6,000 in the bank for a rainy day or whatever.
Viewed another way let's say he does not have the $6,750 saved and still in this scenario would not miss the $100 month. Does one save and postpone the purchase of the X534 for 67 months or go with the 0% and have it now?
Obviously we all have to make the choices with which we are comfortable, but "free money" can be very tempting and if managed wisely a viable option.
