Why rent, rather than buy?

23/05/2024

Why Rental Beats Buying.

Saving the planet by renting instead of buying.

Every time we buy something new, we're adding to the demand for product which keeps raw materials being produced whether by mining, deforestation, energy usage, and more environmentally destructive actions. By renting something someone already owns, particularly for infrequent or one-off usage, we're reducing the demand for new products to be created.

The idea of renting instead of buying, particularly for environmental reasons is known as the circular economy. You can read more about that on our detailed blog on Understanding the Circular Economy.

Renting instead of buying might save you money.

If you only have a short-term, one-off, or occasional use for an item, you may well find it cheaper to rent it from someone else instead of buying it new. This is especially true if the item is a higher value item, particularly if the item is subject to high depreciation.

Renting creates a sense of community that buying doesn't.

Sure, you'll get a link with local shopkeepers by buying things locally, however, hitting 'buy' on Amazon won't create a personal connection that renting from someone does! We love the way that renting items from people in your neighbourhood or your building builds community and helps you get to find likeminded friends. I came across this in the early days of founding Rentable when I used to borrow and lend photography gear to fellow photography enthusiasts - it put me in touch with great photographers that I wouldn't have met otherwise!

With rental, you get expert advice.

Whether you're hiring a paint sprayer or a drone, you'll get wise counsel from the lender who'll help you to get the best out of the item you're renting. That's not a service that comes with most online shops!

You can try before you buy.

By renting an item from someone else before buying it, you have a chance to see if that piece of kit will work for you. I've lost count of the times that I've bought something that I thought would be perfect for my needs, only to buy it and find that it just didn't work how I expected. I'm also really bad at returns, meaning that I've ended up with a lot of useless things in storage. I now have a principle of hiring out expensive items before I buy them to make sure I like it as much as I think I will.