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Short on Cash but Need a New Fridge? Try Renting

Short on Cash but Need a New Fridge? Try Renting
Written by Aryan Arya
Do you have an old fridge that is doggedly soldering on, despite being well past its lifespan? Your situation isn’t uncommon. Thousands of Indian consumers hold on to old and inefficient appliances even when they clearly need to replace them with something more efficient and functional. They are willing to deal with poor cooling temperatures, malfunctioning freezers, condensation on utensils stored inside, water leaking, and rotten fresh groceries instead of getting a new fridge.

The reason for tolerating these conditions is quite common and might be familiar to you: it is money.

New Appliances Can Be Expensive

Even the most basic of fridges available in the market today costs anywhere between Rs. 15,000 and Rs. 20,000. If you want something that is suitable for your entire family, you might have to spend nearly double the amount. Most people can’t afford to make such a big financial commitment, especially if they’re on a tight budget.

While there are finance options available in the market, they’re not always the ideal solution. People with less financial stability often don’t have good credit scores or even credit cards. They don’t have access to these zero-down payment schemes and other options that are available to modern consumers.

Without this financial assistance, people have to rely on their own resources to get these essential appliances. That can seriously encroach on their savings and cause problems down the line.

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This is where renting comes in and can be a great alternative to outright purchase. There are fewer hurdles in getting a fridge on rent in Noida. You just need to find the right rental service and choose an appliance that suits your requirements perfectly.

How Is Renting A Better Option?

Renting is a great option because it doesn’t require a massive initial investment. You just need to pay a small security deposit amount, which can be anywhere between Rs. 1,000 to Rs. 2,500. This security deposit is returned to you after the lease period is over and you have returned the appliance to the company.

You need to pay a small rent every month on the due date for as long as you use the appliance. This amount is quite low and won’t compromise your monthly budget too much.

The amount of money you spend on this option depends on the duration of the lease. For example, if you rent an appliance for more than 2 or 3 years, you might end up paying more money on rent than the cost of the appliance. However, if you only intend to rent the appliance for around 10 to 15 months, you won’t even spend half of what it is worth.

This means a rental plan might not be a good idea for some consumers but is a great option for most.

Rent To Buy Option

Fortunately, there are alternatives for people who wish to buy new appliances down the line. You can either rent directly or choose the rent to buy option. This option is like an installment scheme. Every month’s payment contributes towards the purchase. You can either pay the remaining amount in full or keep paying the rent.

This option is quite convenient for people who are on a limited budget but still want to buy an appliance instead of just renting it. It might even be a more affordable alternative to outright purchase from the store.

How To Get The Best Rental Deal?

If you want to get a fridge or washing machine on rent in Noida, it is a good idea to consider the deal carefully. Rent is a recurring expense that you have to deal with every month. If you’re on a very tight budget, this can be a financial burden.

You don’t need a large fridge if you’re just one person living alone. Your monthly expenses will go down considerably if you get a small, compact fridge that has low rent, doesn’t consume much electricity, and doesn’t take up much space.

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It is also important to choose the right lease period if you want to avoid spending more than you need to. If you need the appliance for a long term, choose the rent to buy option for the best results.

About the author

Aryan Arya

Aryan Arya (Venkat Siva Reddy) is the CEO & Originator of Crazy Speed Tech, Blogger, Web Developer & currently maintaining other few tech blogs also operating as an SEO Analyst.

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