Rent versus buy and the real cost of renting household goods

Published: 24 April 2024

Renting a fridge or washing machine can seem like a fast, easy option when you’re running low on money. But it’s often a lot more expensive in the long run.

When you rent an appliance you enter into a consumer lease. This is also known as a ‘rent to own’ or ‘rent to buy’ agreement. This can seem like an easy way to get what you need straight away but there are often hidden costs.

At the end of an agreement you may find you’ve paid a lot more than you originally planned for, and you may not even own it. Also, if you miss an agreed payment due date, it could affect your credit rating.

Visit Rent vs Buy to learn about advance payments or Good Shepherd’s no interest loans, so you can buy what you need upfront.

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Page last updated: 24 April 2024.
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