The pros & cons of renting equipment
Mar 30th 2016, 6:25 am
#16
Forum Regular
Thread Starter
Joined: Mar 2016
Posts: 129
Re: The pros & cons of renting equipment
As said before, short term rentals I can fully understand, longer ones (if one has access to credit) I cannot.
But each to their own
Mar 30th 2016, 6:32 am
#17
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Joined: Oct 2003
Posts: 38,611
Re: The pros & cons of renting equipment
You may be best to rent for a bit.
When you buy a property finally much will depend on the space for said appliance. It can differ.
Also, I have found that appliances have an average life span of around 5 years here.
As Snapshot has suggested it may be better to average out costs . Complete buy value over life span v lease rent value over upgrades.
When you buy a property finally much will depend on the space for said appliance. It can differ.
Also, I have found that appliances have an average life span of around 5 years here.
As Snapshot has suggested it may be better to average out costs . Complete buy value over life span v lease rent value over upgrades.
Mar 30th 2016, 12:07 pm
#18
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,439
Re: The pros & cons of renting equipment
The difference is so great the exchange rate is immaterial - unless you buy a dud (which would most likely be covered under the 12 month warranty anyway), the numbers are stacked heavily in favour of buying. The rental company is going to assume a short life-span and will likely sent rents to recoup their cost over about two years. Even if the machine only lasts five years that's still three "free" years that an owner gets compared to a renter.
Last edited by Pulaski; Mar 30th 2016 at 1:08 pm.
Mar 30th 2016, 1:05 pm
#19
Lost in BE Cyberspace
Joined: Feb 2009
Location: UK
Posts: 14,284
Re: The pros & cons of renting equipment
"Tempted to keep it too long". 
How long is too long? I have bought a number of kitchen and laundry appliances over the years, and only ONE has failed within five years (as an aside I don't believe in extended warranties, and so I am MASSIVELY ahead by not buying warranties). I only stop using an appliance when it stops working, though obviously I left my appliances in the UK when I left.
Our washing machine was bought new in July 2002, and is still working just fine. I think we paid about US$700 for it, so the capital outlay has been less than $5/mth. How is that a bad deal?
How long is too long? I have bought a number of kitchen and laundry appliances over the years, and only ONE has failed within five years (as an aside I don't believe in extended warranties, and so I am MASSIVELY ahead by not buying warranties). I only stop using an appliance when it stops working, though obviously I left my appliances in the UK when I left.
Our washing machine was bought new in July 2002, and is still working just fine. I think we paid about US$700 for it, so the capital outlay has been less than $5/mth. How is that a bad deal?
NEVER EVER take extended warranties becuase they are an insurance provider dream. If the appliance is going to fail, it will fail within the first few months or so when it is still under manufacturer warranty. But if your fridge is going to survive the first 12 months, well it will probably survive the first twenty years as well.
Mar 30th 2016, 1:11 pm
#20
Lost in BE Cyberspace
Joined: Feb 2009
Location: UK
Posts: 14,284
Re: The pros & cons of renting equipment
I am with you. And I have lifetime of experience in the insurance market.
NEVER EVER take extended warranties becuase they are an insurance provider dream. If the appliance is going to fail, it will fail within the first few months or so when it is still under manufacturer warranty. But if your fridge is going to survive the first 12 months, well it will probably survive the first twenty years as well.
NEVER EVER take extended warranties becuase they are an insurance provider dream. If the appliance is going to fail, it will fail within the first few months or so when it is still under manufacturer warranty. But if your fridge is going to survive the first 12 months, well it will probably survive the first twenty years as well.
Mar 30th 2016, 1:25 pm
#21
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: The pros & cons of renting equipment
Me and him were both brought up believing renting/hp etc was wrong and if you couldn't afford it then you couldn't have it. The husband didn't even like having a mortgage. However if you're really struggling financially and you don't have the $400+ upfront for a washing machine, renting one is the only way to go because chances are dragging everything down to the launderette once or twice a week will probably cost more than the rental cost of one.
With regards to renting stuff until your container turns up, we shipped everything a month before we left so it arrived when we did. We borrowed/used stuff from family and friends which you can't do when you don't have either in the new place.
With regards to renting stuff until your container turns up, we shipped everything a month before we left so it arrived when we did. We borrowed/used stuff from family and friends which you can't do when you don't have either in the new place.
