So, saving to buy a car is less productive than going into debt for that car?
It certainly is. Spending as soon as possible opens up the need and opportunity for more production than would saving for years before spending. That's what we as consumers have been told for decades, and considering the advances made within that time, it's true.
Saving is deferred consumption, yes. But how do you get the funds to save, hmm? You produce
than you consume.