The dilemma to rent or buy is very apparent with medical equipment, which usually packs a high price tag. Many seniors with health issue must decide if they should make a purchase or only pay a monthly rental charge for their healthcare necessities.
There are several factors involved in trying to decide if a senior should rent or purchase equipment. One of the main deciders is cost. A high-dollar item might not be economically feasible to buy outright and may be more cost efficient to rent. In many circumstances, veterans’ associations, healthcare foundations, and other state and local nonprofits will pay the rental fees on specific items or even purchase them outright for a senior in need. All options should be explored, and the pros and cons should be weighed.
As with any decision, the pros and cons must be weighed out, especially when it involves making a possible high-dollar purchase.
There is no black and white answer when it comes to renting or purchasing an item. What works for one individual may not for another. Also, some items are easier to rent than purchase. A senior must think about all the options and alternatives that are available to decide what works best for their unique situation.