We are all more or less familiar with the concept of renting homes and vehicles, but how many of you are aware that you can rent big-ticket items, like a fridge, couch, or laptop? This is becoming increasingly popular among the more budget conscious of us, and you have to admit… it does have a certain appeal.  

Essentially, by renting a fridge instead of buying one, you get what you need without the upfront cost. In many cases, delivery and maintenance are included, making it even more appealing.  

But does it actually make financial sense? 

Well, with more rent-to-own options popping up in South Africa – and with many households under financial pressure – it’s worth asking the question, “Could this work for me?” 

To help you determine if renting appliances, furniture, and technology could work for you or just become another money drain, let’s explore the pros and cons so that you can make an informed decision for your circumstances.  

Why More South Africans Are Choosing To Rent 

Rising living costs, fewer credit approvals, and the growing popularity of flexible lifestyles have all contributed to this growing rental trend. 

Here’s why it’s tempting: 

• 🪑 No big upfront cost. 

• 📦 Delivery and setup are often included. 

• 🧰 Repairs and maintenance may be covered. 

• 🔄 Easy upgrades when tech becomes outdated. 

• ⏳ You’re not tied down if your needs change. 

The True Cost Of Renting 

So, what’s the catch? Because, surely, it can’t all be as easy and affordable as it sounds? You’re not wrong. There is more that meets the eye when it comes to this financial choice. 

Let’s compare what it costs to rent vs. buy a few common household items: 

Item	Rental (Avg Monthly)	Term	Total Rental Cost	Avg Cash Price
Fridge (260L)	R350	24 Months	R8,400	±R5,500
Laptop (Basic)	R400	24 Months	R9,600	±R7,000
Washing Machine	R380	30 Months	R11,400	±R6,000
TV (55”)	R500	24 Months	R12,000	±R8,000

We are sure that you would have noticed is that rental costs often end up being 30% to 80% more than buying the item outright – even if there are repairs that you would need to include. We should also add that some rental agreements charge hefty early termination fees or don’t automatically transfer ownership once the contract ends. 

So, Why Is It Popular? 

Despite the cost, there are scenarios where renting makes sense. For starters, if you are only living somewhere for a few months (like a contract job or temporary relocation), it’s cheaper and easier to rent than to buy, move, and later sell. Another example that fits in here is if you don’t want to invest in baby paraphernalia that you will only use for the first few months of your baby’s life, such as a bedside crib. 

Of course, there’s also the occasion when you need something now but can’t afford it. Say, for instance, your fridge dies in the middle of summer, and you can’t pay upfront for a new one… a short rental might help while you save or shop around. 

Alternatively, if you want to try a product (like a specific washing machine or high-end laptop) before buying one and risking buyer’s remorse, this option could work for you. 

The Red Flags 

The reality is that renting appliances, furniture, or tech can be a helpful short-term fix, but it’s good to be aware of the red flags that could end up costing you far more than this solution was ever worth. 

Red Flags To Watch Out For: 

❌ No Ownership: If your rental agreement doesn’t lead to ownership, you’ll end up with nothing after spending thousands. 

❌ Better Credit Terms: A retail store or credit provider might offer better interest rates and ownership at the end. 

❌ Renting Non-Essentials: Think twice before renting a massive smart TV or gaming laptop you don’t need, particularly when you could buy something smaller and more affordable. 

Our Advice? 

Make sure that you read the fine print, because this is the only way that you can check what happens at the end of the term. Do you own the item? Can you renew? What are the fees? Is delivery, installation, or insurance part of the price? 

We would also urge you to compare total cost to cash price. If the total rental cost is more than 30% higher, it’s probably not a good deal. 

Feeling Informed? 

If you’re working toward financial freedom, buying smart and planning ahead is almost always better, but this rental approach can be suitable when it’s temporary, financially necessary, or part of a clear long-term plan. 

We have lots more practical advice, budget-friendly ideas, and planning tools, including our Personal Monthly Budget Calculator, so please take a few minutes to explore the rest of what we have available to help you.