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Q: I was on a blog searching celebrity gossip and there was a link called bagborroworsteal.com and basically you can rent a handbag, return it and rent another one for a fee each month. Why in the hell would someone want to rent a handbag? Couldn’t you just save up and buy it?
A: I’ve received quite a few questions about bagborroworsteal.com and other sites like it. These sites charge a flat fee per month (starting at around $10 bucks and increasing) and then an additional fee for renting ranging from $5 a week for cheap bags you can buy easily at your local Marshalls to $100+ a week for a couture bag that you probably didn’t need anyway.
The appeal is a little like leasing vs. buying a car— those who like to change purses often or want the status that a brand name conveys will like the service. But unlike a car, which provides transportation, you don’t NEED a designer purse. Folks act like carrying a designer bag is some basic human right. What would be smarter would be to take that $300 a month and save it and within 3 months, you could have the bag. Or better yet invest it in a retirement fund or savings account and forget about this obsession with status.
On a personal note: I’m a big fan of purses. I love them (along with accessories in general). I would never participate in a service like this for the same reason I would never lease a BMW or Mercedes—if I can’t afford to buy it, then I don’t need to have it. Although, if I lived in a place like my hometown of Minneapolis, where the public transportation system is practically non existent, then I might consider leasing a BMW . . .but never a bag.