Am I wrong or too harsh?

My husband coworker has asked him to please buy a PS4 for his son and he'll pay him back next month at payday. My husband is torn because he feels bad for the son, but I am saying no it's a bad idea.

PS4s are imported here so they are EXPENSIVE. My husband waited two YEARS after they were released here for the price to drop a bit to be able to afford one. It's a LOT of money this guy is asking from us.

I feel he knew his son's birthday was coming, and he could have saved. He spends a LOT of money on alcohol (and painkillers, but apparently that's stopped now), and cigarettes. And frankly it's never a bad time to teach your kids they can't always get what they want, especially when the child in question apparently also has a history of treating the coworker badly (obviously learning from the mom, but old enough to form opinions for himself). Plus he's been bragging about how well he's doing in the sales the last two months.

He's prepared to put a "deposit" of about a quarter of the whole price down, but I am still saying it's risky. The cost of the console is almost half our rent, if he doesn't pay were screwed.

What would you do?

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Thanks everyone. My husband said no and when his coworker told his kid he can't get him the console, his kid sent him the worst things imaginable. Calling him the worst father in the world, he hates him, he's a waste, etc. Apparently the co-worker was devastated (although it shouldn't be a surprise as it's not the first time I've heard such stories) and although my husband is now glad he didn't buy the console, he feels really bad for his coworker. He is so desperate for his kids to love him as much as he loves them that he's prepared to go into debt and buy the most ridiculous things for them just for POTENTIALLY a bit of appreciation. Feel really bad for him.