Table of contents:
- Scenario A: Rent iPhone 11
- Conclusion: Renting a smartphone is not worth it unless …
- Smartphone for rent: you should pay attention to this
Video: Rent A Smartphone - Is It Really Worth It?
2023 Author: Sheila Hailey | [email protected]. Last modified: 2023-05-24 11:17
Scenario A: Rent iPhone 11
As an example, let's look at the white iPhone 11 in the 128 GB version on the Grover website:
- Since a smartphone is usually kept for at least one year, we select the minimum rental period "12 months".
- The iPhone then costs EUR 54.90 per month.
- Overall, this results in: 12 x 54.90 euros = 658.80 euros
Interim conclusion: We have effectively 658.80 EUR 11 for the use of an iPhone for one year issued. A new iPhone 11 would cost around 840 euros if you bought it. On the surface, you would have saved 181.20 euros. Now let's look at the other scenario.
Grover: Experience & Hotline - Renting Cell Phones & Co.
Scenario B: Buy iPhone 11
In this example we buy the white iPhone 11 with 128 GB. After a year we want to buy a new device:
- According to Idealo, a new iPhone 11 costs us around 840 euros in the best case.
- After the year we sell the old iPhone.
- We assume a resale value of 50 percent, even if you would probably get more.
- We sell the smartphone for 420 euros.
- 840 euros (purchase) - 420 euros (through resale) = 420 euros
Interim conclusion: We effectively spent 420 euros for the use of an iPhone 11 for one year and “quasi” saved 420 euros.
Our test for the iPhone 11
Conclusion: Renting a smartphone is not worth it unless …
In scenario A, you almost spent the price of an entire iPhone 11 at the end of the rental period. If you had rented it for about 3.3 months longer, you would have paid the full price for the iPhone 11 - but the device would not belong to you.
It looks better here in scenario B: Because the device belongs to you, you can sell it again at the end of the year, which reduces the original purchase price. In scenario B, compared to scenario A at the end of the year, it is another € 238.80 cheaper.
However, in our example we did not take into account what it looks like when the iPhone 11 breaks. Unless you have Apple insurance, it can end badly. It also depends on the Android or Apple device. It can be worthwhile for some to only rent a smartphone if the resale value is low or if you only choose a very short rental period. Basically, however, we think that this will be the exception. It is worthwhile for companies to rent certain equipment for trade fairs etc. if the rental period is correspondingly short (a few days).
It's worth it if …
If the respective rental provider lets you buy the smartphone and takes the previous rental payments into account, the offer can be very worthwhile again.
- At Grover, for example, this is the case: In the customer account, you can see how many rental payments are still outstanding until the purchase price of the device is reached and it becomes the property of the customer. The device can also be bought there immediately.
- In addition, accident damage at Grover is covered by the “Grover Care” service, which covers 90 percent of the repair costs for accident damage. In the event of loss or theft, the customer bears the costs.
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Smartphone for rent: you should pay attention to this
The following important factors are always important when it comes to renting smartphones:
- How long do you want to rent the smartphone?
- What is the (theoretical) resale value of the device?
- What are the monthly rental costs?
- How are accidents or losses covered?
You should at least take these factors into account and carry out the calculation shown above to arrive at a result that suits you.