What are the Pros and Cons of Renting Machine and Gadgets?

When it comes to getting essential household appliances, you have two distinct options. You can either buy them or rent them. Most modern consumers aren’t even aware that there’s an alternative to outright purchase. People who are aware hesitate to rent because they don’t know much about the process. In this article, we discuss the pros and cons of renting a fridge, Gadgets or washing machine so you can make an informed decision on the matter.

What Are The Advantages of Renting?

Getting a washing machine or fridge on rent in Hyderabad can be a great financial decision, especially if you need them for a short period of time. Here’s a look at some of the biggest advantages of this option:

· Low Up-Front Costs — When you rent an appliance, you only need to pay a small security deposit and then pay the monthly rents over the rental period. This means you don’t need to have a large amount of cash on hand to get the best results.

· Flexible — Renting is a good option for people who want the appliance for temporary use. For example, if your fridge has broken down unexpectedly and your in-laws are coming to stay for a couple of months, it is best to rent a fridge for immediate use. This gives you some time to plan your budget and save enough money to make an outright purchase.

· Rent-To-Buy — If you intend to buy an appliance down the line but can’t afford to do so at the time, the rent-to-buy option is ideal for you. This plan allows renters to own the appliance they have rented several months down the line.

· Returnable — You can return the appliance and cancel the rental plan at any time at a nominal cost. For example, if you’re not satisfied with the product and don’t think it performs up to your expectations, don’t hesitate to return it and get another appliance.

· Transferable — Well-established rental companies allow customers to transfer their rental plans to connected cities. For example, if you get a washing machine for rent in Hyderabad and want to move to Bangalore, you can transfer the rental plan to Bangalore and get a similar appliance in that city for your new place of residence.

As you can see, there are several distinct advantages to renting essential appliances. All you need to do is choose the right rental service provider and choose an appliance that suits your requirements.

What Are The Disadvantages of Renting?

While renting is a great option for almost everyone, it does have its drawbacks. A consumer needs to consider their requirements and what in on offer carefully before they make a decision. Here’s a look at some of the biggest disadvantages of renting:

· Availability — Renting has become very popular over the years and most rental companies are left without enough inventory for new clients after a few months. All appliances are available on a first come first serve basis and the most popular ones aren’t on the market for long. For example, a popular fridge size that is suitable for most Indian households won’t remain on the website for long. If you find one in stock, you need to snatch it up quickly.

· Brands and Models — It isn’t easy to find a desirable brand on rental websites. As mentioned before, all popular brands and models get picked up quickly. Some consumers are forced to settle on a brand they don’t prefer because other alternatives are out of stock. Unlike the market, you can’t just type the brand or model name and find the perfect match.

· Maintenance is Essential — Renters need to be more diligent with their maintenance than regular consumers because they have to eventually return their appliance to the company after the lease period is over. Most Indians don’t serve their appliances as often as they should, which shortens the appliance’s lifespan and compromises its function. Rental companies do provide certified service technicians to help you maintain the appliance. You might also get free maintenance service if you rent for more than a year or a similar time period.

These are some of the biggest disadvantages of renting appliances instead of buying them. It is pretty apparent that the pros outweigh the cons in most cases, but if you’re particular about what kind of appliance you need or what brand you want, renting might not be the best option for you. However, renting is a good option for people on a budget and consumers with short term requirements.

What are the Pros and Cons of Renting Machine and Gadgets? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.