Other than a car, some common large purchases that offer financing or payment options which you should be cautious about include:

• Electronics : Items such as smartphones, laptops, and televisions often come with financing plans. These can seem convenient but may carry high interest rates or fees that increase the total cost significantly if not paid off quickly

• Furniture and Appliances : These purchases frequently offer financing options, sometimes with promotional zero-interest periods. However, if the balance is not paid within the promotional timeframe, high interest rates and penalties can apply, making the purchase more expensive than anticipated

Other examples to be wary of include motorcycles and certain online purchases that offer monthly payment plans, which can also lead to accumulating debt if not managed carefully

. In general, financing large purchases that depreciate quickly or do not appreciate in value can be risky if you cannot pay off the balance promptly, as interest and fees can add up and negatively impact your financial situation