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Home Appliances

Buy or rent?

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Keen to deck out your living room with a suite of home entertainment gear but don't have thousands to spend? It may be time to consider renting, writes Ella Smith.

Been pressed up against the windows of your local electrical retail store lately, gazing longingly at that glistening 50 inch high definition plasma TV and the matching sound system, only to do your maths and find you've got no spare cash? It's moments like these when you should consider equipment rental.

So why rent?

If you are concerned about shelling out your hard earned cash in one fell swoop on a flat screen telly, amp and some speakers that will depreciate in value or be superseded once you step outside the store, renting could be for you.

Renting home entertainment is an ideal way to get hold of cool technology without making a huge initial outlay. Instead of handing over thousands - either in cash or credit - you have the option of making regular repayments on a monthly, or even weekly, basis.

It's also a handy way of trying before you buy. If you have considered upgrading your home entertainment setup to high definition, renting might be simpler. In two minds about buying a plasma or LCD TV? Why not rent them for six months each and then make up your mind?

Many people don't realise that renting doesn't necessarily mean being locked into contracts that drag on for years. Recognising that people's lifestyles change (for better or for worse!), rental companies now offer short-term rentals which are ideal for people relocating interstate who simply needing a TV for a few weeks while their new carpet is being laid, for instance. And the rental company generally delivers and installs the equipment too, saving you time and energy.

If your credit history has seen better days, renting can be particularly helpful, forming part of your strategy towards rebuilding your credit rating.

And if you are renting for business purposes it may even make financial sense to rent, placing less strain on your cash flow and even getting you a tax deduction. (Of course, always seek professional financial advice before you finalise your rental or purchase strategy.)

That's entertainment

Don't know - or don't particularly want to know - how your receiver's inputs differ from their outputs? Renting can help you avoid the sometimes hair-pulling process of setting up audio-visual equipment. Generally, rental companies deliver and install your goods, when it suits you, for greater peace of mind.

If you are thinking of watching the Beijing Olympics in August with some mates and you want to enjoy the action on the biggest screen that will fit in your lounge room, some companies will rent their products to you for even a single day, a weekend, a week, or even a month.

But be prepared to pay for the privilege. At the time of writing, Radio Rentals was charging $300 a night to have a 42 inch plasma TV delivered and installed, or about $500 for the weekend. Not exactly cheap, but it's roughly the cost of a three-to-four star hotel stay.

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