Or buy a used truck, pay cash and don’t get a loan! Let’s go with that one. Lol
In that example, show where the borrower paid double taxes?
In both cases, you end up with the same in your 401K, and you used the same after tax money to pay the loan. Except the 401k borrower paid himself interest and not the bank.
Or do you know of some conventional loan that allows you to deduct the entire repayment from your income?