The problem with buying electronics and related tools is that keeping up with the latest and greatest is difficult. It's especially bad for professionals with budget constraints. Many people can get into serious trouble if they borrow money to buy things like cameras, lenses, etc. and a situation interrupts their ability to repay. Some people only temporarily need a specific high price tool.
My solution is a variant of leasing better than "rent to own." The advantages are:
- If an unexpected situation arises and/or you no longer need the tools, you can send the equipment back and the lease and future payments will terminate.
- If you acquire equipment and something newer comes along, you can order newer equipment and later exchange for sending the old equipment back.
- You can trade equipment within the same budget.
- You acquire now and pay later without using credit
- Prepayment is allowed
- It becomes yours if you pay enough into the equipment
- No late return penalties. It's great for long term temporary projects.
Rental houses often sell you their insurance. It's not best for long term rentals. This one will provide recommendations for third party insurance that covers both equipment you own and what you rent/lease. Just provide the certificate of insurance along with a security deposit and everything will be great.
What do you like about this idea? What concerns do you have? Should someone like me start a company for this? Would it make sense to instead get established companies to offer this concept as described? What's your general advice?
Thanks in advance.