Rent Rather than Buy Furniture
Where to Find Furniture Rentals and Whether Leasing Is For You
Why you may want to rent furniture instead of buy, especially if you're moving in less than three years. Save on moving, packing and storage costs. A look at pros/cons.
Renting an apartment for two years or less? Instead of buying furniture, it might make more sense to rent. Why pay movers to haul away furniture you may not even like in two years. Tastes change and so do costs. Furniture depreciates, but moving, packing and storage expenses keep going up.
What to look for when renting furniture:
- Quality is not as big an issue as affordability when it comes to leasing furniture. You don’t want to buy anything that falls apart after one sitting, but a heavy duty finely crafted maple dining room set shouldn’t be high on your list. Make sure there are no obvious defects, and comfort is key. Sit on the chairs. Hop on the bed. Even lay down to be sure the mattress is just right.
- Ask questions before you sign a contract. What is the deposit? What are the pick-up and delivery charges? What condition does the furniture need to be in when it’s returned? Read the fine print. Normal wear and tear should be acceptable. Damage is not. That doesn’t mean you can’t have parties. But keep stain remover handy in case someone spills red wine or soda on the sofa.
- Keep cost in mind before you decide to rent. You should be able to lease a living room, dining room and bedroom set for under $50 a month. If you can’t find those prices in your area, it might make more sense to buy used furniture and sell it when you move. Or if you get attached, take the furnishings with you. Price out the cost of buying and divide the total by the number of months you plan to stay in your apartment. For instance, if you know you will only stay in your place for 24 months and you find a deal on an apartment full of furniture for less than $1200, you might as well take it. Because renting at $50 per month for 24 months adds up to the same amount. Just make sure you pay cash. Financing with a credit card will tack up to 24 percent on the bill.
Where to find furniture rentals:
- American Furniture Rentals leases furniture in many east coast cities. 888-AFR-RENT
- Brook Furniture Rental is located in 13 U.S. cities. 877-285-7368
- Instant Furniture Rentals serves Michigan, Indiana and Texas. 877-467-8268
A lot of times, rental companies offer great deals on purchasing used furniture. But whatever you do, stay away from rent-to-own stores. The interest rates are astronomical, and you’ll end up paying a lot more for furnishings than you ever anticipated.
The copyright of the article Rent Rather than Buy Furniture in Consumer Education is owned by L. Marie Dubuque. Permission to republish Rent Rather than Buy Furniture must be granted by the author in writing.
