When Renting Doesn't Make Sense
The most costly items to rent are:
Furniture. Renting a Klaussner couch, love seat and coffee table can run you as much as $45.00 per week. Rental centers also have a minimum number of weeks you are obligated to pay, depending upon the contract. If the agreement were for 78 weeks you would end up paying $3,500 for the privilege of using the furniture for 1-½ years. The same set of furniture can be purchased brand new for approximately $1600 to $1700. You end up paying twice as much and you don’t even get to keep the furniture.
Computers. If you own a business it can be cost effective to rent as opposed to buying. Upgrades can take place more often and many come with tech support.
A Dell computer rents for around $40.00 per week and the terms are usually 62 weeks. This adds up to $2480 for an item that would cost approximately $1100 to purchase outright.
Televisions. A 50-inch Toshiba TV costs approximately $35.00 a week to rent with a term of approximately 2 years (104 weeks). This calculates out to paying $3640 for an item that you can purchase new for around $1200.
There is no reason for a person to spend their hard earned money in such a wasteful manner. Search Craig’s List, used furniture stores or Goodwill for furniture and televisions. Talk with family and friends to see if they are planning to upgrade to a newer computer and ask if you can buy their old one.
If your heart is set on buying new, try setting aside $35 to $40 per week and in seven to eight months you will have enough money to buy a 50’ TV, computer or couch and loveseat.
Denise Wing, C.E.O.
Certified Mortgage Lender
Academy National Mortgage Corporation
303-987-0622
dwing@academynational.net
Furniture. Renting a Klaussner couch, love seat and coffee table can run you as much as $45.00 per week. Rental centers also have a minimum number of weeks you are obligated to pay, depending upon the contract. If the agreement were for 78 weeks you would end up paying $3,500 for the privilege of using the furniture for 1-½ years. The same set of furniture can be purchased brand new for approximately $1600 to $1700. You end up paying twice as much and you don’t even get to keep the furniture.
Computers. If you own a business it can be cost effective to rent as opposed to buying. Upgrades can take place more often and many come with tech support.
A Dell computer rents for around $40.00 per week and the terms are usually 62 weeks. This adds up to $2480 for an item that would cost approximately $1100 to purchase outright.
Televisions. A 50-inch Toshiba TV costs approximately $35.00 a week to rent with a term of approximately 2 years (104 weeks). This calculates out to paying $3640 for an item that you can purchase new for around $1200.
There is no reason for a person to spend their hard earned money in such a wasteful manner. Search Craig’s List, used furniture stores or Goodwill for furniture and televisions. Talk with family and friends to see if they are planning to upgrade to a newer computer and ask if you can buy their old one.
If your heart is set on buying new, try setting aside $35 to $40 per week and in seven to eight months you will have enough money to buy a 50’ TV, computer or couch and loveseat.
Denise Wing, C.E.O.
Certified Mortgage Lender
Academy National Mortgage Corporation
303-987-0622
dwing@academynational.net
posted by Academy National Mortgage at 7:33 AM
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