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Save Money by Renting Instead of Buying These 3 Types of Items

August 17, 2018 | Daniel Dewitt

One of the byproducts of living in a hyper-capitalist society is that when we need something, we immediately assume it means we need to by whatever it is. Books, power tools, clothes – whatever it is, the variety of stores and online retailers out there means you can own it with just a quick trip or click of a button.

All that spending can add up quickly though, and meanwhile there’s another option you probably haven’t thought of that can save you money: renting. While it doesn’t make sense in every case, renting certain types of items can save you an arm and a leg. What kinds of items? Here are just a few.

Power Tools

Unless you’re a construction workers or carpenter, your power tools will probably only see use once or twice a year, which makes the hundred-plus price tag on each of them a little hard to rationalize. Most Home Depots, Lowes, and other local hardware stores will rent out power tools for exceptionally low prices.

A particular advantage of programs like these is that power tools are also very much a case of getting what you pay for, and you’ll often be able to rent more powerful and high quality tools than you’d ever be able to afford to buy outright.

Textbooks

If you’re a veteran student you probably already know about this, but textbooks are expensive. Especially for something that you only need for a semester, paying close to $100 on a single textbook is ridiculous. But what else can you do if you want an education? Well, renting is an option a lot of students use. Your local textbook store will generally have a renting service, and there are countless online sites that will rent textbooks for just a semester.

Considering most of us don’t even remember what we learn in a given class once it’s done, you especially don’t need a tome you’ll never read again taking up space on your shelf.

Clothes

You’re no doubt giving this tip the side-eye. After all, who wants to wear some strangers clothing, no matter how well it’s washed? And for the most part, you’d be right: clothing as a whole isn’t that economical to rent. But if the item of clothing you’re looking for is only going to be worn once or maybe twice a year and would otherwise be too expensive to afford, renting makes a lot of sense.

This covers everything from tuxedos to fancy dresses. And while it’s not the height of romance, wedding dresses in particular are a good item to rent instead of buy, as they’re by definition an item of clothing you’re only going to wear once. And just like power tools, you’ll often be able to rent clothing of a higher quality than you’d ever be able to afford to own.

When Renting Isn’t an Option

If what you need to buy isn’t on this list and you find yourself short on money, installment loans may be the answer you’re looking for. They may be able to provide you up to $3,000 in just a few hours, and a simple to apply for.