Originally Posted by
noglider
Financing something that is not likely to depreciate is not a bad idea, because it lets you have something sooner than when you had the money saved up. This is why mortgages make sense. But if you are still paying after you are no longer using something like, for example, groceries, it's a terrible idea. A bike is in the middle. It doesn't depreciate terribly fast. But it can get stolen or ruined pretty easily.
It helps that the interest charges on
your mortgage is tax deductible. Ours is not.
But then again, when house around here appreciate 20% year over year, who cares if you can deduct the interest.
