That leverage concept logic makes sense in some cases, perhaps a mortgage. It doesn't make sense to me on a new vehicle/tractor purchase. Those 0% financing deals are paid for by a higher purchase price. Lots of places will have several offers, like 0% financing or $xxx cash back...When you run the numbers, it usually a wash from a financial perspective.
A better example of leverage, may be someone who owns their home outright sees 30 year mortgage rates at historic lows and the stock market down. They may decide to take out a mortgage believing over the long run, they can earn more in the market than they are paying in interest. Of course, they are taking on some risk they would not otherwise have. Not much different than using debt to buy equipment you plan to use to earn money. You believe you can make enough money to cover your time, maintenance on the equipment, and the cost of the financing. Like the previous example, you still take on the risk. If the market goes south and you can't get jobs for the equipment, you are in a tough spot.
For me, if the equipment is used for a hobby, I can just wait until I can save enough to buy it.
Thanks,
Jack