Originally Posted by
Bike Gremlin
Friction shifters, non-leather saddle, and regular maintenance should keep the bike running fine.
Sure, it's perfect if you can store it indoors, but it won't melt or rust completely, right away outside.
It sort of depends on where you are. In central Florida, where I grew up, a bicycle left out in the elements 24/7 would get wrecked very quickly by sun and rain. (Salty ocean air was also an issue.) Even exposed rubber parts on cars succumb fast there.
In northern California, where I live now, both sun and rain are much less damaging.