What is Digg?99 Comments
- HookmasterCH47, on 05/29/2008, -5/+40Rims? Seriously MSN, you're not cool...
- inactive, on 05/29/2008, -1/+30Never rent your girl friend.
- salmonmoose, on 05/29/2008, -1/+30No mention of underwear.
- Raider007, on 05/29/2008, -3/+28Summary of article:
Stay away from Rent-A-Center and buy everything off Craigslist
that article is scraping the bottom of the barrel to be newsworthy - raptordrew, on 05/29/2008, -2/+19They did NOT just tell people to buy eMachines.
- frenchkick, on 05/29/2008, -2/+18simply put...
don't rent anything you can easily buy except an apartment or house
and if your can't afford it, don't buy it
just saved you about 5 minutes - bungoman, on 05/29/2008, -0/+15As pointless as this article is to anyone with even a tiny amount of common sense, places like Rent-A-Center stay in business for a reason. Lots of idiots actually do rent these sort of things and think it's a good idea.
- flxfxp, on 05/29/2008, -0/+12I have a netflix-like account on russian mailorder brides
- skyfyre, on 05/29/2008, -0/+10I wouldn't have rented any of those things anyways. Rent a set of rims? Are you kidding me?
Rented rims would look so sweet on your 1988 Toyota Camry. - passedoutghost, on 05/29/2008, -1/+11Rent out or rent? Cause by renting out, you'd get some money in return and get to wear a cape and use a stick.
- cdigioia, on 05/29/2008, -0/+10...while also factoring in the rental prices & purchase prices.
Your maxim sounds good at a glance, but really isn't very good advice.
If you could buy a new Honda (depreciating) for $1,000 vs. renting it for $500/month - you should buy that depreciating asset. If you could rent a house (appreciating) for $100/month, vs. buying it for $200,000 - you should rent that appreciating asset. Extreme examples, but you get the point I hope. - rockefeller2, on 05/29/2008, -3/+13Buying rims is stupid too. You'll understand when you grow up and have higher priorities.
- Kyan, on 05/29/2008, -0/+9I'm about to put you out of your misery.
2 phones *2 dollars *30 years *12 months = $1,440. - adonison, on 05/29/2008, -0/+8I work at an RV dealership and if you plan on renting an RV be VERY careful about how you drive it. Dealerships expect you to bring it back in the same shape it went out in. So even if you break something little that you would normally not replace on your own unit you have to fork over the money and the bills are usually $1500 or more. There is often no insurance available other than highway collision insurance, so even if you get hit in a parking lot or if a stone chips the window you're *****.
That being said most customers are very happy with renting, RVs cost a lot of money and most people just can't afford to purchase one. - inactive, on 05/29/2008, -0/+8Their point was.... buying rims are cool, renting rims make you look like an idiot.
- D14852001neko, on 05/29/2008, -0/+8You can rent handbags? Wow
- rockefeller2, on 05/29/2008, -1/+8Actually getting prostitues is much more economical than jumping through all the hoops it takes to get a chick into the sack. Not to mention having to listen to all that babling nonsense that comes out of their mouths.
- inactive, on 05/29/2008, -0/+5I kind of think that if you're considering renting rims, a finance article isn't going to restore you to sanity.
I don't agree with renting a vacation home unless you just must vacation in the trendiest (i.e. most expensive) places. I am looking at a 1-acre lake-front building lot for $20k and a decent 900sqft 2-bedroom cabin that could be built for $60k at most. But that's mine 365 days a year for very nominal property tax... cabin rentals in the area are like $100 a night. - Jektal, on 05/29/2008, -0/+5I learned that some people actually rent rims and/or handbags.
- Thud, on 05/29/2008, -0/+5From the article, advising you about things you SHOULD rent:
"Anything you use once a year or less. Floor buffer? Lawn aerator? Power washer? Really expensive power tools? If you drag it out annually or less, it's usually better to rent."
So in other words, I should be renting my vacuum cleaner?? - EtherGnat, on 05/29/2008, -0/+5$4,252 based on a 9% return and the interest being taxed at 28%.
- hansolo, on 05/29/2008, -0/+5No calculation of inflation and declining value of the dollar?
- brjndr, on 05/29/2008, -0/+5Rotary phones are sweet! I want one for house.
SSSSSSSHHHHKKK....THHKK...THHKK...THHKK...THHKK...THHKK...THHKK...THHKK...
SSSSSSSHHHHKKK....THHKK...THHKK...THHKK...THHKK...THHKK...THHKK... - miriv365, on 05/29/2008, -0/+4Anyone want to go further and figure out what that would have earned in an interest bearing account?
- EtherGnat, on 05/29/2008, -0/+4Make sure you factor in the cost of utilities. A washer and dryer are fairly expensive to run. Don't forget to consider used appliances.
- electrichead, on 05/29/2008, -0/+4I think you should also take into account the amount of time you would need to pay off the item vs. how long you would realistically be using the item. If I can pay off my depreciating asset in 5 years, but I will use it for 15, isn't that better than renting it for 15 years?
- insomniacal, on 05/29/2008, -1/+5When my grandmother passed away, my father was closing out her finances and discovered that she'd been leasing two phones for her house. Rotary phones, leased from AT&T for something like $2/month ... for over 30 years. They'd been in the house as long as my father could remember. AT&T simply tacked the charges onto her monthly phone bill, so she wasn't really aware of it. The total those phones cost her?
... no, I can't stomach the math. - Aruna, on 05/29/2008, -0/+4The people that rent rims, tvs, furniture, and computers probably don't read MSN Money. What kind of non-article is this?
- tony23, on 05/29/2008, -0/+3FTA: "if you fall for this scheme, you deserve to stay broke."
Says it all. - bmcnally, on 05/29/2008, -0/+3Depends on how long you stay in it. I'm in the same sort of situation and had to figure out if I should buy a set or just take things to the laundromat every couple of weeks.
Figure $1.50 - 2.00 per load of laundry if you are paying for it. I can usually get by with washing everything in the same load, but sometimes I use two. That occurs every 2 weeks to 3 weeks, depending on how busy and active I am, so $10 a month is spent on laundry (plus soap, but that's constant).
If you're going to be in a place for over a couple of years, or if you share it with 1 or 2 other people, than you should look at buying. $120 a year if it is yourself. $240 a year if it's two, $360 if three, etc.
Just run the equations and figure out your break even point and if you will conceivably be around for that long. - csrster, on 05/29/2008, -0/+3Yes, but that's not rent-to-own.
- craiginct, on 05/29/2008, -0/+3Depends how many loads a week you do. Which is cheaper? Hauling and pouring quarters or the weekly rental on a washer dryer? If its a close call, factor in the hours you spend at the laundromat - "time is money."
- eszymczyk, on 05/29/2008, -0/+3i dugg just for the stupidity of the article... i found it funny
- EtherGnat, on 05/29/2008, -0/+3E*machines were the worst in reliability and customer satisfaction surveys, but as of several years ago they had improved dramatically. I'm not sure what their current status is.
- thund3rstruck, on 05/29/2008, -0/+3Yes, RENT then COPY DVDs, that knocks 97% off the purchase price.. of course it could also cost you 5 years of freedom.... tough call; prison or Free Willy...
- pr0t0, on 05/29/2008, -0/+3Actually, there is an old saying about acquiring and keeping wealth: "If it flies, floats, or *****...rent it!"
The upkeep and maintenance for planes, boats, and members of the opposite sex just isn't worth it. - EtherGnat, on 05/29/2008, -0/+3You're ignoring the fact that the property has value, which may even appreciate. I agree with you anyway, though--the costs of owning a property go far beyond the purchase price.
- MtheoryX, on 05/29/2008, -0/+3eMachines may really suck, but they are cheap, and better than renting a Dell for those interest rates.
Besides, if all you're doing is MS Office and web surfing, would it matter if your machine can play Crysis or not? - strid3r, on 05/29/2008, -1/+4I'll never forget my Dad's advice: "Son if it floats, flies, or *****, rent it."
- ChildeRoland420, on 05/29/2008, -0/+2The property and cabin will have intrinsic value as well. He doesn't have to save $80k on rentals in order for that to be a smart inveestment.
- inactive, on 05/29/2008, -0/+2I was describing their point. I think rims are a waste.
- EtherGnat, on 05/29/2008, -0/+2The maxim is HORRIBLE advice. Almost everything depreciates over time, that doesn't mean it's more expensive to own than rent. The only valuable metric is total cost of ownership.
- lordewoks, on 05/29/2008, -0/+2It's da HOE TRAIN! Chuga chuga chuga chuga chuga woooo WOOO!
- diggbeerfridge, on 05/29/2008, -0/+2At least now when I rent a whore for a couple hours I know it's economical.
- Kyan, on 05/29/2008, -0/+2But you can't assume the granny had the 1440 sitting there up front 30 years ago. If she did, then putting it in an interest-bearing account would have been a dumb move when she could have just invested in Microsoft.
She could have paid 1250 for 50 shares. By 1 April 1999, these 50 shares would have split to 7,200 (I think). And selling them at 94 each would bring her 676,800 dollahs. take out capital gains of 30% and she can easily invest 400,000 dollars into AAPL. (This is 1999, heh.) Roughly 11,400 shares of that. These split twice (June 200, Feb 2005) So now 45,600 shares of AAPL.
Which is worth 45,600 * 187.30 = 8 540 880.
That's wherre your inheritance went.
Now can someone do it right? That is invest 1250 in MSFT in 1986, sell it in April 1999 and buy AAPL with the profit after capital gains and tell me what we've got today? I wonder if I am even in the ballpark here. - inactive, on 05/29/2008, -0/+280K to buy but unlike 80K worth of hotel fees, I actually still own the property and if I play my cards right I get that 80K and possibly more back when I sell. Plus it might be tax deductible if I take out a mortgage on the cabin construction (I haven't really worked it all out yet). My point is there's something to owning your own vacation home, even if you aren't rich, as long as you are satisfied with just a cabin.
- MtheoryX, on 05/29/2008, -0/+2America? This is HORSERADISH SAUCE!!!
- daemonx, on 05/30/2008, -0/+2I'm a photographer and normally rent high end lenses,filters and other related products. Its ok if ur renting it for a day or two and that too not very frequently. But if u'r gonna take it for a week or more,its definitely not worth it.
- mmascari, on 05/29/2008, -0/+2Re-read the article.
20K + 60K = 80K to buy. Or put another way, at $100 a night, 800 nights.
At 52 weeks a year, 2 nights a week plus 2 full weeks on vacation, that's over 7 years worth of every weekend travel to break even.
Add some variety to your vacation and it takes even longer. And that's not even counting the ongoing costs that push the time out even further.
You have to really really like the spot to the exclusion of all others before it makes sense. Or find some different cost numbers. - inactive, on 05/29/2008, -0/+26. Porn
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