You thought living without a washer and dryer would be easy.
All you have to do is spend a few hours at the laundromat a once or twice a month. That’s doable. After the first month or two though, you might be realizing it’s a lot harder than it seems.
Not only does it suck a lot of time out of your schedule, but you also have to pay more per load than you would if you just owned your own washer and dryer at home. But what are you supposed to do about it if you can’t afford to shell out hundreds of dollars for new appliances?
You can rent them instead.
We’ve put together this guide to show you some of the benefits of renting appliances and to help you figure out if it’s the right choice for your home. Keep reading below for some helpful tips!
Benefits of Renting Appliances
When you rent a refrigerator, dishwasher, or another appliance, you only hand over a small amount of money to the rental company every month—kind of like a car payment. Depending on the appliances you rent and the contract you sign, this monthly amount can be far under $100.
Paying these small amounts over a long period of time is much more manageable for people with tight budgets (and even students!) than coming up with hundreds of dollars upfront for a new appliance. At the end of the rental agreement, you may even be able to keep the appliance you’ve been using.
Benefits of Buying Appliances
The biggest benefit of buying an appliance is simple this: you own it. You don’t have to pay any more money on it, you can do whatever you want with it, and you don’t have to worry about returning it when the lease ends.
However, buying appliances is much more expensive than renting. If you just spent all your money on a new house or a security deposit for an apartment, you might not have enough left for an appliance. You’ll either have to live without it (which can be impossible in some cases) or go into debt buying the cheapest model you can find.
If you find yourself in this circumstance, renting might be a better option for you.
Appliances for Rent: When to Sign the Contract
In your search for new appliances, you may not have considered renting (or you may not have even realized it was a possibility for you). If you’re trying to figure out the best fit for your needs, make sure you start by asking yourself these questions.
Where Do You Live?
Are you in an apartment or do you own your own home?
If you’re in a permanent location, buying new appliances is a smarter choice. You need appliances that are dependable and that will stick around for as long as you will, so owning your own appliances is more convenient.
An apartment, on the other hand, is likely a small, tight space you don’t plan to stay in for the foreseeable future. You may need small or stackable models, forcing you to spend your money on something you don’t really like. On top of that, the appliances you buy may not fit in your next apartment, which can be a big waste of money later.
In this case, renting is the better option.
You can keep the appliances for as long as you need them, then when you move, you can return them and buy your own or rent different models that better fit the space.
Do You Plan to Move Soon?
If you own your appliances, you have to pay to pack them, transport them, and hook them back up in your new location. This can make the entire moving process much more complicated.
You don’t have to worry about any of this with rented appliances.
For example, let’s say you had to rent a stove in the past. You can call the rental company and let them know you’re moving date. The company will then come to pick it up (maybe even for free) and take it off your hands. Depending on your contract, they may even move it to your new home.
What Does Your Budget Look Like?
It’s not worth taking out a loan or going into debt for an appliance. That debt might seem small, but it can easily get out of hand and throw your entire financial situation into chaos. Not only that, you’ll end up paying more than the appliance is worth due to interest.
Unless you can afford to pay for the appliance out of pocket upfront, you should plan to rent instead. The smaller, monthly payments will be easier on your bank account and help you save money in the long run.
How Much Free Time Do You Have in Your Schedule?
What will you do if your appliance breaks?
If you own it, you’re responsible for figuring out what’s wrong, buying new parts, and installing them. At the very least, you’ll have to hire a third-party company to repair the appliance for you, which isn’t cheap.
If your rented appliance breaks, simply call the rental company and let them know. They’ll send someone out to fix it free of charge. You may even be able to get upgrades for outdated or broken models.
How to Rent the Appliance You Need
Does renting appliances seem like the smarter choice for you? It’s not a complicated process. All you have to do is take a look at our appliance options and pick the right one for your home.
Have any questions before you start?
Don’t hesitate to get in touch with our team at A&A Appliance Leasing! We’ll walk you through the process and make sure you find what you’re looking for.