The attitude of renting or getting a loan for any consumer item is financial suicide.
Why they don't buy second hand I don't know? You can go to an auction site, get the same $1500 sofa for $500.
Why they don't buy second hand I don't know? You can go to an auction site, get the same $1500 sofa for $500.
When we moved into our house, we bought all our furniture on a zero-interest, four year loan. It made a lot of financial sense to pay a fairly low monthly payment and have the large amount of money available for investments.
I think better phrasing would be that needing to rent or get a loan for any consumer item is a bad idea. It's fine to take out a loan if you have the cash anyway but find it advantageous to hold onto it, but if you're relying on future income to buy the stuff now, it's a sign of trouble.