Should you rent a laptop?
If you’ve thought about renting a laptop at any point in your life, you may want to reconsider it. There are a lot of fees and interest charges that tend to crop up that aren’t actually brought up when you go to an agency to rent a laptop. While the monthly payment right off the bat may be enticing, the costs of renting in the long run will be much more than if you were to purchase the computer right off the bat. Why is this exactly? Well, it’s simple: Interest.
Should you decide on laptop rental, you’re going to be spending a large amount of money in the longer term in finance charges. The interest rates when renting appliances, particularly electronics, are absolutely through the roof. It may sound unrealistic and downright criminal, but there are interest rates approaching 30% on laptops and related accessories. Each month you will pay the usual amount of principal, then on top of that you’ll also spend a large amount of money just in interest. That interest adds up over time, making it so that at the end of your rental agreement you would have paid more for the laptop than if you’d have just bought it outright. The interest rates and other fees are generally laid out in the fine print, but very few people actually read that. Do yourself a favor and ensure that you fully understand the laptop rental agreement before signing.
So, would we recommend renting a laptop for any of you? Absolutely not, unless you absolutely had to have a computer in a pinch and had no other way of getting one. Beyond some very unforeseen emergencies, there are no solid reasons to rent a laptop versus buying one outright. The costs of renting will eat you alive in the longer term.
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