Appliances: should you rent rather than buy?

Moving into a new place or refreshing your current space and having to buy basic household appliances can prove quite expensive. For this reason people are increasingly turning to renting these appliances as they may need them. Teljoy, is one such company that allows customers to rent appliances, like an oven or a fridge, instead of purchasing them. This week we take a look at how this works and under which circumstances should consumers consider using Teljoy?

“’Rent to Own’ is a month-to-month contract that allows you to rent a wide range of household appliances, furniture, electronics and even baby goods with the option to take ownership after the pre-determined rental period,” explains Teljoy.

What are the advantages of Rent to Own?

Apart from saving on forking out possible thousands on appliances, Teljoy identifies the following as benefits:

  1. Financial flexibility– Teljoy allows you, the customer, to upgrade/ downgrade or cancel and return the unit at any time.
  2. Convenience– You can shop and apply online and we will deliver and set-up the unit in your home at no additional cost to you.
  3. Peace of mind– We’re responsible for maintenance, risk cover and even the TV license (if applicable) during the rental period, again at no additional cost to you.
  4. Reliable and trusted– Teljoy has been in this business for 48 years, and boasts with a trusted reputation.

What is the cost?

While cost will differ depending on the appliance you are wanting as well as the renting period you are looking at, here is a working example of a Hisense 32″ HD Ready LED TV :

Hisense 32″ HD Ready LED TV

Buying: R2599 – Takealot and R2799.99 – Hirsch’s
Rent to Own: R179 pm – Teljoy

How do you apply?

Applying is a 3 step online process that Teljoy have tried to streamline in making it easier for you.

Step 1: Click on the ‘Apply now’ icon on the product/s you would like to apply for.
Step 2: Complete the application form online and upload the required documents (copy of your ID document, 1 month’s bank statement and your latest payslip) and click ‘Submit’.
Step 3: Sit back and relax and have their friendly agents process your application and contact you within 2 days.

In the event of cancellation of a product or renting term, you are required to give one month’s written notice in which case Teljoy will arrange for the item to be collected from you.

What happens if the product or appliance breaks?

The worry when renting or making use of goods that aren’t yours is that it could break or be damaged. In the event of a breakage customers are encouraged to contact their Head Office on 0860 22 44 66 or complete the online contact form, Teljoy will then log a call with a technician to assist you.

Risk cover

For peace of mind Teljoy offers to cover claims while you’re renting with them. Taking out risk cover means that they will cover theft (with a valid case number and affidavit), accidental damage (except cracked tablet/cell phone screens) and any damage that may have been caused by lightening surges.

While renting to own may not be conventional, it can save you quite a bit of money and spare you from buying unnecessary appliances that later will only end up gathering dust. Whether you should rent or buy can be answered through both preference and need. If you are someone who has the means and prefers owning your own things then buying is the obvious route to take. But if you’re starting out you may not have the means to buy new products, this is where ‘rent to own’ may come in handy.