• About
  • Mortgage Basics
  • $40K Challenge
  • Aunt Doris
  • Grandfather Says
  • Privacy
  • Archives

Len Penzo dot Com

The offbeat personal finance blog for responsible people.

15 Things That Are Better to Rent Than Buy

By Mikey Rox

Want to enjoy life’s finer things without the big investment? Then instead of spending cash to own them outright, consider renting — especially if you’ll only use them infrequently.

Renting can often fill a temporary void without creating a new one in your wallet. With that in mind, here are 15 things that are often better to rent than buy:

Bikes

I’ve had two of my bikes stolen while locked to bike racks this year, and I’m not rushing out to buy a new one. Luckily, my town just introduced a bike-sharing program this summer from which I can rent a bike for much less than it would cost to lose another one. Renting a bike is also more practical if you’re only a sometimes-user; you can rent mountain bikes for adventure, or a cruiser for leisure rides along the shore.

Large power tools

I’m not a particularly handy guy, but I can do a few things around the house, and sometimes that calls for tools I don’t own, like a $1500 miter saw with a sliding compound and 12-inch blade. Peer-to-peer tool-rental services like Zilok can be a good resource, but your best bet is big-name home improvement stores.

Designer clothing

Luxury clothing and accessory rental sites, particularly Rent the Runway and Bag Borrow or Steal let you get all spiffed up for special occasions at a fraction of the cost.

Cars

If you rarely drive a car, or if you live in an urban area with reliable public transportation, renting a vehicle is your best bet — especially when you factor in repair costs, insurance, parking, depreciation, and other expenses.

Books and DVDs

I haven’t bought a book or DVD in nearly 10 years; I donated or sold them when I moved to Manhattan to avoid carrying heavy boxes full of junk I rarely used. Since then I’ve only rented books from the library and DVDs from Redbox. Frankly, I don’t even do the latter anymore since on-demand movies have become so affordable.

Boats

Most owners admit that boats are a money pit; it’s not a coincidence that BOAT stands for “break out another thousand.” According to personal-finance educator Matt Collins,”The majority of boat owners only use their boats frequently in the beginning. You’re better off renting a boat when you need it. Trust me; your friends won’t care, as long as it floats!”

Housing

I’m a staunch advocate for home ownership, but renting is definitely the way to go if you’re on a tight budget; for those living paycheck to paycheck, unpredictable expenses increase the risk of losing your home to foreclosure. Better safe than homeless, I say.

Textbooks

There aren’t many college students who use their textbooks after they’ve finished a class.

“It’s much cheaper and simpler to rent textbooks each semester, and send them back once the semester has ended,” Collins says. “Rented textbooks are often available for 67% off the purchase price.”

eCampus.com and CampusBooks are great places to look.

Surf and ski equipment

My friend, Diana, is an avid adventurer and she suggests renting surfboards and skis when traveling. Why? Diana says, “They’re expensive to transport on a plane, a pain to carry, and they can get damaged in flight.”

Carpet shampooer

On average, quality carpet cleaners cost upwards of $500. You can save significantly by renting this equipment — because, really, how often are you going to shampoo your carpets? My local Home Depot currently charges $21 for a 4-hour rental.

Tuxedo

I bought a tuxedo about eight years ago because it was on sale for a very good price; I’ve worn it once. You’re better off sticking with a rental — if only because your body will change over time.

Commercial appliances

A friend told me you can rent dishwashers and ice machines if you own a food prep business. If it breaks, the technicians are there within the hour, seven days a week. This could be an ideal cost-saving solution for food-service proprietors just starting out.

Musical instruments

Kids regularly change their minds about the extra-curriculars in which they participate, which is why you should rent musical instruments until your child proves their commitment. Local music stores rent instruments, but you also can rent them online.

Bakeware

Another friend enlightened me about rental bakeware recently. Her local library has a collection for rent “so you can make that awesome Wilton train cake without dropping $30 for the pan.” Her words, but I agree.

Party decor

People think DIY projects save money, but that’s not always true. When it comes to weddings, you’re better off renting decor like table toppers and bouquets. And if you’re going to be house-poor in the near future, bump up the bar expense; nobody will care that the flowers are fake once they’re hammered.

Photo Credit: bfahlman

7 Comments November 16, 2021

Comments

  1. 1

    Edwin | Cash The Checks says

    I rent or borrow tools all the time. I have no need to keep things I’ll only use once and then put away. I don’t even own a shovel or a ladder.

    Reply
    • 2

      Len Penzo says

      I do the same thing, Edwin. And the few tools I do have keep growing legs and walking away.

      I’d blame my family members, but they insist that they always put them back where they found them.

      Reply
  2. 3

    Jorma J Tontti says

    I think I`m a rare man of my age, because I rent a car, skis, golf clubs and these kind of things every time I need. And guess what? This is the reason, why I use always brand new equipments.

    Reply
  3. 4

    Tom says

    Renting can really help especially for those who don’t have much space in their homes to put different stuff. You can check places online like Naborlee and list items to rent for free

    Reply

Trackbacks

  1. 6 Things That Are Better to Buy Than Rent - Len Penzo dot Com says:
    December 5, 2017 at 4:15 am

    […] recently wrote a post here that highlighted things that are better to rent than buy. Now it’s time to flip it and reverse, a la Missy Elliot. Here are a few items for which you […]

    Reply
  2. 6 Things That Are Better to Buy Than RentK-Term says:
    December 5, 2017 at 4:28 am

    […] 2017 0 2 Share on Facebook Tweet on Twitter I recently wrote a post here that highlighted things that are better to rent than buy. Now it’s time to flip it and reverse, a la Missy Elliot. Here are a few items for which you […]

    Reply
  3. 6 Things That Are Better to Buy Than Rent - USA Today says:
    December 6, 2017 at 12:39 am

    […] 2017 0 1 Share on Facebook Tweet on Twitter I recently wrote a post here that highlighted things that are better to rent than buy. Now it’s time to flip it and reverse, a la Missy Elliot. Here are a few items for which you […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

The Question of the Week:

Are you a better or worse financial manager than your parents?

View Results

Loading ... Loading ...

Recent Posts

  • 100 Words On: Why It’s Not Poor Etiquette to Put Ketchup on a Hot Dog
  • 6 Responsible Ways to Use Your Emergency Funds
  • 5 Affordable Ways to Upgrade an Outdated Bathroom
  • The 6 Most Valuable Grocery Store Products
  • Black Coffee: Out to Lunch
  • How to Set Up a Proper Gambling Budget
  • How to Guarantee a Social Security Disability Claim
  • Grandfather Says: Croc Hunting in Mindanao
  • How to Save Money on Dental Care So You Won’t Go Broke at the Dentist
  • 7 Big Reasons Why a Roth IRA Isn’t the Best Way to Save for Retirement

Disclaimer

This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. In fact, making investment decisions based on information published here, or any other website for that matter, is more than unwise; it is folly. This website accepts advertising in the form of monetary and other compensation; as such, topics of discussion are occasionally influenced by these advertisers. Sometimes, an article may also include affiliate links, meaning, at no additional cost to you, this blog earns a commission if you click through and make a purchase (for example, as an Amazon Associate I earn from qualifying purchases). Remember, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your unique personal situation.

Sign up for the weekly Len Penzo dot Com newsletter
Len Penzo dot Com Delivered Weekly
Join more than 40,000 readers and fans who enjoy personal finance and macroeconomics with an offbeat twist!
Invalid email address
Thanks for subscribing!

Popular Now:

  1. 1. The Great Paper Towel Test: Which Brand Is Your Best Value?
  2. 2. How a Broken Washing Machine Fixed My Finances
  3. 3. Tip Inflation: We’ve Got Nobody to Blame But Ourselves
  4. 4. Lottery Fraud: Don’t Get Caught Paying “The Stupid Tax”
  5. 5. What’s the Fastest Way to Pay Down Your Mortgage Early?
  6. 6. The Marriage Conundrum: Joint or Separate Accounts?
  7. 7. Why Time Is More Valuable Than Money
  8. 8. 25 Examples of Shrinkflation That No Longer Fool Consumers
  9. 9. Historical Gold & Silver Benchmarks for Wages and Commodity Prices
  10. 10. 4 Good Reasons Why Some Quarters Are Painted Red

All-Time Most Popular:

  1. 1. 19 Things Your Suburban Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending You the Money
  3. 3. Why Your Expensive Luxury Car Doesn’t Impress Smart People
  4. 4. If You Can’t Live on $40,000 Annually It’s Your Own Fault
  5. 5. 21 Reasons Why Corner Lots Are for Suckers
  6. 6. 4 Smart Reasons Why College Isn’t for Everyone
  7. 7. 18 Fast Facts About Social Security Numbers
  8. 8. My Ketchup Taste Test: Upset! Guess Which Brand Topped Heinz
  9. 9. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  10. 10. Here’s a Simple Trick for Getting Credit Card Interest Charges Waived

Copyright © 2022 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

© Len Penzo dot Com 2008–2022