What is a washing machine lease?
Leasing or renting a washing machine is actually the same as buying a car. Instead of spending a large amount of money to buy a washing machine, you can pay a fixed amount per month and still use the washing machine.
You enter into a contract that states the monthly costs and what you get in return. Is the washing machine broken? Then in most cases you just get a new one. Any extra costs, for example for service or if a part breaks down and needs to be replaced, are also included in the amount you pay per month.
This way, even on a small budget you are able to use a good washing machine, and this way you can save on electricity and water costs.
The pros and cons of leasing or renting a washing machine
Whether renting a washing machine is better than buying one depends on a number of factors for you. If you don’t have the budget to buy a new washing machine at this moment, then leasing could be a good solution for you. Even if you do have the budget, but you are afraid that you will spend too much on repairs and service, you can still see the advantages of leasing. In this section we have listed the various pros and cons for you, so you can make a good consideration.
The benefits of leasing a washing machine
The biggest benefit of leasing a washing machine is of course that you do not have to spend a large amount of money yourself at one time. For a fixed amount per month you can still use that spacious and energy efficient washing machine. So you don’t have to make any concessions on fill weight or energy efficiency, you can always go for the washing machine you have set your heart on.
In addition, leasing a washing machine is also very beneficial for other costs. As soon as the washing machine breaks down, it will be replaced for you and even when a part needs to be replaced or repaired, you won’t have to pay for it yourself. The cost that you pay per month for the washing machine is exactly what you spend on it, no more and no less.
The disadvantages of leasing a washing machine
To rent/lease a washing machine is in the long run more expensive than buying one yourself. For example, a 1250 washing machine costs 35 per month to lease and you also pay a one-time fee of 99 for the administration, delivery and connection of the machine, which means you pay 519 in the first 12 months.
After 2 years you have already paid 939 for the washing machine and another half year later you have covered the full purchase price of the washing machine. Chances are, the machine is still working well at this point, which means it would have been cheaper to buy it yourself at once. With leasing, you still pay 35 per month, even after you have reached the full purchase price. Lease this washing machine for 5 years? This would amount to 2100 and you could easily buy 2 washing machines for that amount.
Is renting a washing machine right for me?
The choice you have to make is between spending a large amount of money once or paying more for the same washing machine in the end. Don’t forget to take into account that with renting or leasing, you don’t risk your washing machine breaking down quickly and you don’t have to pay for other costs, such as repairs.
When is renting a washing machine useful?
Temporary rent
If you are living somewhere temporarily, for example, it can be beneficial to rent or lease a washing machine. In a temporary living space it does not always make sense to buy white goods, because it is not ideal. When you leave your temporary place of residence, you might have to move or sell everything with you and that can be very annoying. Another situation where renting or leasing a washing machine can be beneficial is when you live with several people. For example, in student houses where the turnover of residents is high, renting a washing machine can be a convenient solution. The monthly costs for the washing machine can be included in the rent, so nobody has to pay for the purchase all at once. If a tenant leaves the property, the costs for renting the washing machine are simply transferred to the next tenant. This way, no one is stuck with the costs and everyone can still use a good washing machine.
What does renting a washing machine cost per month?
The monthly costs of renting or leasing a washing machine vary greatly. The price differences between different providers are very large, so it is important that you compare them before making a purchase. In this section we have listed some of the features that may help you make your choice:
Is there anything for free?
For example, some companies will deliver and hook up the washing machine free of charge, or provide you with a new one free of charge if the washing machine no longer works properly. With some providers, on the other hand, you will have to pay almost 100 for the connection, delivery and preparation of the contract. There are also companies that offer a lot of additional free services, such as moving the washing machine with you when you move house. So always check what exactly is included in the price.
For how long do you have to rent/lease the washing machine?
Most providers indicate that you have to take out a subscription or sign a rental contract stating that you will use the services for at least 1 year. There are also many companies that do not have one-year contracts, but require you to sign for at least two or three years. In that case it is important to consider whether it is cheaper to rent or lease a washing machine or to buy it yourself.
In addition, with renting or leasing you are often required to take out another subscription. For example, a detergent subscription or a subscription where the washing machine is regularly checked for defects.
Is there an option to buy the washing machine over?
Some providers also offer the option to buy the washing machine over after the one-year rental period. This does not include the added amounts you paid for renting the washing machine, but you can often buy it over for a lower price.
This is because the appliance is not always in top condition after use, and therefore the rental company cannot always offer it to someone else again. Instead of taking it back and selling or renting it to someone else, they will always try to sell it to you first. This saves the landlord a lot of money. It can be advantageous for you too, as the price of the washing machine will be a lot lower and you, in turn, will not have to pay for the delivery of a new one. If this solution is offered in your contract, it is a good idea to find out if this has any advantages for you. This way you can avoid paying three times the purchase price of the washing machine.