Lending Club Blog

Rental Center Pricing

Rental centers allow you to rent everything from furniture and appliances to computers and high-end electronics. Monthly fees may seem low, but renting often ends up being even more expensive than buying.

When my wife and I relocated for her job, her company paid for furniture rental until we completed our move. Included in the package were a small couch, coffee table, end table, 2 lamps, 2-person kitchen table and chairs, 3-drawer dresser, bed frame, and mattress. Her company was charged $116 per month for the rental.

The first thing we noticed after the delivery was that the items were of much lower quality than what we had seen in the showroom. The items were certainly well worn. While we only had the furniture for one month until we sold our house and moved our own furniture, the experience taught me a lesson: renting furniture is really expensive.

I decided to go shopping and price comparative furniture to what we had received. Of course, my prices were for new furniture, which would be considerably more than the used furniture we rented. The breakdown was as follows:

Table and 2 Chairs $90
Small Couch $400
Coffee and End Tables $45
Two Lamps $20
3 Drawer Dresser $70
Mattress/headboard $250
Total $875

Assuming you were to buy new furniture versus renting, you’d pay for the furniture within the first 8 months at the rental rate. Furniture may be more of a need than some other rental items, but want items follow similar pricing. If you were to buy used furniture, of comparable quality to the rental, from a thrift store, yard sale, Craigslist, or a similar second-hand source, it would pay for itself even more quickly.

Renting for a very short term may be more cost effective in certain situations. If you are looking to satisfy an ongoing need, however, then buying will almost always be less expensive. Confusing wants and needs makes us even more inclined to rent things that we really can’t afford. The irony is that while we may rent to save money, it usually ends up costing much more. Run the numbers for yourself before making a rent versus buy decision and you’ll likely come to the same conclusion.

Friday, May 23rd, 2008 at 7:30 am

Comments (0)


Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

Credit Performance Update

Summary: Credit performance of our standard program is coming… Read More »
February 7, 2016

New Infographic on Small Business Financing

Check out our latest infographic on the state of… Read More »
December 17, 2015

More Data Coming for Investors

We’re always seeking feedback and looking to make the… Read More »
November 10, 2015

Lending Club Surpasses $13 Billion

Check out our updated infographic to see what a… Read More »
October 29, 2015

Lending Club Launches Multi-Draw Line of Credit for Small Businesses

We’re excited to announce the… Read More »
October 16, 2015

Bloomberg Markets Names Renaud Laplanche on its 2015 “Most Influential” List

Read More »
October 6, 2015

Congratulations, Carrie! Named 2015 Financial Woman of the Year by The Financial Women of San Francisco

Read More »
October 5, 2015

Congratulations to Carrie Dolan – Named one of American Banker’s 2015 Most Powerful Women in Finance

Read More »
September 22, 2015

Welcome Nebraska, Kansas, and Indiana Investors!

We recently welcomed residents of Nebraska, Kansas, and Indiana… Read More »
September 21, 2015

Lending Club Job Spotlight: Technology & Member Support

Our Technology team develops and… Read More »
September 14, 2015


We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w