Borrowing instead of buying: for two types of users, renting technology products is particularly worthwhile

Smart TVs, upper-class smartphones or nimble drones: service providers offer desirable products for rent. For some users, this new model is particularly worthwhile.

Should it be the new iPhone or the coveted Xbox Series X? But there is not enough money in the account at the moment? Service providers like Grover and dealers cooperating with them want to come into play and offer such devices for rent instead of for sale.

Your promise: always the latest technology, reimbursement of costs in the event of damage and free return shipping. But for whom is such a rental model worthwhile?

Rent instead of buy: convenient and easy

Borrow for vacation: If you only need a drone for a short time, it is hardly worth buying.
Borrow for vacation: If you only need a drone for a short time, it is hardly worth buying.

CHIP

Eva Stüber from the Institute for Retail Research (IFH) in Cologne explains that the concept of “lending instead of buying” emerged against the background of new target groups for whom ownership is no longer a status symbol. “It serves convenience, speed, simplicity and corresponds completely to the zeitgeist.”

The fact that retail chains such as Mediamarkt, Saturn or Gravis, which actually only sell, are now also renting out, shows the upheaval that is currently taking place, says Stüber.

There are two use cases in particular. Number one: A tech-savvy person always wants to own or at least test the latest gadgets, but not pay so much. Case number two: someone only needs a certain product for a certain period of time. For example, to take photos with a great camera while on vacation. In these cases, subscription models for a shorter period of time, in which you can flexibly change products, are worthwhile.

Broken device: repairs are usually carried out

And what if the good piece you rent breaks down? If so, you should definitely check the contract to see whether it includes insurance against damage or how to proceed in the event of damage, the experts advise. For example, is there a deductible for repairs that are due?

Grover advertises that in the event of damage, such as “technical defects, display breakage, water damage and severe signs of wear and tear”, 90 percent of the repair costs will be covered, and 50 percent for drones.

Subsequent purchase is also possible

If you like the device too much to give it away, Grover offers that you can buy it. The rent paid will be offset against the subsequent purchase price.

However, you shouldn’t expect to always get a new device. After all, the concept of sustainability also plays a certain role in the concept. It could also be remanufactured devices.

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