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The latest news on this change — carefully culled from the world wide web by our change agents. They do the surfing, so you don't have to!

Why Rent When You Can Buy?

We all know it's better to own than rent. So why do we keep giving away cold hard cash just to have to give back the merchandise, too? Girls are renting handbags at Bagborroworsteal.com just to carry a Louis Vuitton to a party. Urbanites are renting bikes and cars for intermittent use. Are you really saving? Depends on how often you use the item in question—but here are a few things you should NEVER rent, according to our friends at MSN:

1.) Rims
We have to confess that we didn't even kinow this was possible. What is it about rims that people feel the uncontrollable urge to have them on their cars? The retail value of a nice set of rims is well over $1,000. The rental price is $62 a week—which adds up to $3,224! We're not Will Hunting or anything, but we're pretty sure that's a bad deal.

2.) Furniture
No one should be renting furniture...that doesn't make sense. Oh, you can't afford to buy furniture because you're paying down debt and trying to save money? We see. So, paying $45 a week for 83 weeks (with Rent-A-Center) is actually saving you money on the nice, designer furniture set? If you purchase new, you'll spend about $2,000 less. If you have to have it NOW,  Craigslist usually has gently used furniture at lower prices.

There are many other bad deals out there, these just happen to be two of the ways you'll lose big by renting. The point is, if you're trying to decrease your debt and increase your wealth, you're not going to get there by renting!

What are some other silly things you've heard of people renting?

Posted: 6/2/08
Tattered

If you want new and can't afford it, there might be some rent to own places, but Freecycle is a great place and you can ask for whatever, and there may be an angel out there waiting for your requests.

Houses are different. Self employed people don't qualify for mortgages, and you might not have enough from one house sale to buy the next...... that's my situation. sigh