
It was a fleeting thought, but nonetheless, we were thinking about renting a purse the other day. Poof! The thought was gone.
We did some Google browsing and stumbled across all the news media quotes listed below. So, we decided to consult some handbag experts to bust some of the myths floating around. We also did our own research and came up with some surprising data. Bottom line, it's not cheaper to rent a designer handbag. In the long term, you are better off owning the purse of your dreams. The media has taken hold as usual, it is all hype and drama. The proof is in the numbers. Rental fees can be as high as $300 per month or more for a famous high-end designer handbag (12 x $300 = $3600).
No wonder all the advertising is being pushed like none other. People are being blind-sighted by one of the worst investments a woman can make with her hard earned cash! Too bad there aren't laws to protect financial rape. Women, wise up. If you can't afford to buy yourself a new purse a few times a year, you certainly shouldn't be worried about impressing people with designer fashion accessories.
Here are a list of quotes made by prominent publications. They are myths, and we just busted them!
MYTH #1 -
“Because hot handbags have such a short shelf life, why not rent one instead of buying? That’s the logic behind…” — The Washington Times
Not true. A classic designer handbags does NOT have a short shelf life. Let's take the Fendi Baguette as an example. It started the entire "it" bag movement about twelve years ago and it's still going strong. As a matter of fact, Fendi introduced a "rebirth" of the detailed ornate baguette this past season. It's still alive and doing well. And, for all you Fendi baguette lovers out there, those designer handbags you purchased over the years are now becoming collector's items are reselling for a ton of cash. So, don't cash in yet. Hang onto, or still hang it over your shoulder and look fabulously current carrying a Fendit baguette. The Fendi Baguette is available in a small version about 9 x 6 inches in size or the larger MaMa Baguette style. Whichever, you picked a winner.
Not only has the Fendi Baguette survived over a decade of shelf life, it has been copied by all the major handbag brands. The word "baguette" is not synonomous to any small shoulder bag that fits neatly tucked under the arm when carried over the shoulder. Coach has one, so does Prada, Gucci and all the big handbag designers.
MYTH #2 -
“Fashion handbags are now a $5 billion industry, and a growing number of women are renting bags instead of buying them. For the price of a single designer bag, women can rent a year’s worth.” — NPR
Not true. Wait. Maybe true if you are willing to settle for less than the high end designer handbag style. You can rent at a low rate, but the designer bag is a low-rate, too. You get what you pay for in rentals and in retail.
A year's worth of high-end designer rentals like Chanel would cost much more than the price you'd pay for owning a classic Chanel handbag of your own. Chanel maintains its value, too. So, look at a Chanel purchase as an investment. The classic black quilted lamb leather chain shoulder bag rents for more than $300 per month. HUH! You can purchase one for about $1500. That's 5 months of rental fees, not including insurance and other hidden fees for renting Chanel.
Classic Chanel bags last a lifetime and are passed down through generations. Rentals are like booze, here today and gone tomorrow.
MYTH #3 -
“Do you want to look like Uma Thurman, the new face for Louis Vuitton, but just can’t afford those accessories? No problem. Now the middle class is scrambling for brand-name luxuries, borrowing has become the next-best way to look rich.” — Time
Think Keith Richards. Can't resist the Time Magazine quote we stumbled upon online. The new face of Louis Vuitton is Keith Richards! LOL. Now, re-read the quote above. Replace Uma Thurman with the name Keith Richards. Think Twice about what you wish for!
MYTH #4v-
“Ten years ago in the US the trend was towards cappuccinos and lattes – the sort of small luxury indulgence that was affordable to everyone. It’s the same idea with handbags you can rent.” — The Times
What? handbags have been around since the beginning of time. Check out Wikipedia. There's some great information online about the history of the handbag. Man-bags transformed into women's purses, and they've continually evolved throughout the ages. As a matter of fact, the best thing about a fabulous handbag is it can be carried to make your raggiest pair of jeans, a pair of flip-flops and cotton T-shirt look like Vogue. All you need is a fabulous bag and your entire ensemble is pulled together to make a fashion statement.
Yet, renting a designer purse is not a good comparison to the cost of a cup of coffee, even if it's $5 from Starbucks. Let's see, McDonald's just introduced the "designer" flavored ice coffee drink on tap for $1.89. Hmmmm....am I dreaming? The Times is a bit off in their price comparisons here. To rent a high-end designer handbag you'll be putting out more than $300 per month. Let's see. Big decision here. Should I rent a purse or make my car payment?
MYTH #5 -
“In the age of new luxury where some people would forgo a month’s rent for a the new Chloe Paddington bag, retail analysts say there is a burgeoning group of middle-class Americans who are indulging a yen for high-end fashion. Companies ...are catering to fashionistas who lack the disposable income to satisfy their cravings for Coach satchels and Chanel clutches, but for whom carrying a cheaper knockoff is blasphemy.” — The Boston Globe
Sorry, Boston Globe, the Coach handbag is so very moderately priced that renting one is not a very good investment of a person's money at all. To encourage people to rent Coach is not a good financial strategy. Buy Coach. Actually, renting Chanel is not a good investment either. The rental fees for Chanel begin at about $270, and that's not including membership fees, insurance fees, and other hidden fees none of the news media discloses in all the free advertising they do to promote designer rental companies.
Rent a luxury car? Rent a luxury airplane? Rent a luxury suite? These make financial sense for the occassion at hand. Renting a purse? Well, think twice about your cost and pay-off. Do your homework first before jumping into something you can't get out of later.
Nobody should ever carry a fake counterfeit handbag. However, designers like Melie Bianco and Murval make fabulous similar looking eco friendly handbags for a fraction of what you'd pay for a good counterfeit. And, if we are working toward a youthful "new earth" movement, then doesn't the inauthenticity of "renting" a purse to look good actually make a person look bad? Renting a designer handbag in order to "look good" is like living a lie. Authenticity rocks!
MYTH #6 -
“Cash-strapped fashionistas rejoice. The authentic $850 Gucci pink clutch you’ve been eyeing … can be yours for $72.90.” — National Post
You'll have to show us this to prove it. All the handbag rental stores we scoured had much higher prices than $73. Maybe $73 per day, with a minimum rental membership fee, plus other fees like shipping, insurance and etc., etc. Do you really think paying $73 to carry a Gucci bag for one day is going to transform your life? your appearance? your stature? Hello?
MYTH #7 -
“You can pretty much look like a million bucks, without breaking the bank.” — KCNC-TV CBS, Denver
I wonder what Susie Ormand would say about that! Let's ask her. Susie, if you are reading this post, please send us an email with your comments. Is renting a designer handbag a good use of a person's budget? Email KarrBernadette at hotmail.com. Thanks Susie!
Now, refer to the comments made about Myth #4 and living your life authentically. Thank you.
MYTH #8 -
“If you’re a handbag junkie, there is hope online – a service that rents out designer handbags and prevents you from breaking the bank.” — CBS Market Watch Weekend
See Myth #6.
MYTH #9 -
loan[s] out ‘it’ bags that cost more than your rent – and that are guaranteed to be out of style in three months – plus a host of classic styles from designers such as Louis Vuitton, Coach, and Donney & Bourke.” — Time Out New York
See Myths #1, #6 and #7.
MYTH #10 -
“Wake up and smell the Chloe. The Chloe Paddington bag, that is…it’s now possible for you (or that hard-to-please fashionista on your holiday gift list) to carry the $500 or $2000 bag of your dreams – and to swap it out for a brand spanking new model every month – for a fraction of what it would cost to buy all the latest must-have bags outright.” — FWD
Swapping bags out can only be achieved if the bag is available! But your monthly dues is automatically charged to your credit card. Just like that gym membership. It's not any good to your budget unless your are using it and getting the results you want.
But, if you save your money and make a personal invnestment in a designer handbag, it's yours for a lifetime. When the bag is yours all it takes is a walk to your closet when you are in the mood to change handbags . And, you never have to worry about who carried the bag before you. Can you imagine using a purse someone you don't know used for possibly carrying their puppy?
MYTH #11 -
‘I love it. I would never – and could never – afford to buy one of the bags, but I can rent one for three weeks for about $50.’ — SLTtoday.com
Not true. A three week designer handbag rental is about $210 at one of the lowest membership fee schedules for a really nice bag. Anything less than that, you may as well not even consider.
MYTH #12 -
“It says that you’ve arrived. That you’re part of an exclusive club. That you are a fashion insider.. And an affluent one. Your purse packs a punch.” — The Denver Post
Do you see the humor in this quote? Who are you trying to fool? The people around you know whether you can afford the purse you are carrying. What do you think people would really be saying if they see you carrying a designer handbag they know you can't afford to own?
MYTH #13 -
"…thousands of women have signed up to lease the latest luxury brand bags on market, many of them coming back for more week after week, month after month, or every time a new event or outfit calls for the perfect handbag.” — Baltimore Sun
Pure media hype. There's no proof in the quote by the Baltimore Sun. As a matter of fact, there's so much hype in the media it makes the regular person ask, "What's all this hype about?" Think about it. Paying rent sucks. We do it for a place to live or a car to drive. When it comes to a purse, let's get real. Now, we have to worry about making enough money to pay our purse fees?
MYTH #14 -
“A key feature of the business is that women can rent several different handbags over a year for the same price or less than it would take to buy a new purse.” — Pioneer Press
Agreed, a person can rent several purses over the course of one year. But, the cost would be much higher than making an investment in the purchase of one classic high end designer handbag. See Myth #2.
MYTH #15 -
“Business is booming…and retail experts say consumers don’t attach a stigma anymore to leasing large sticker items like cars, even furniture, so it makes sense that pricey purses would fall in line.” —WXYZ-TV, Detroit
Once again comparing a handbag to a $60K Lexus is not a good comparison. Same holds true for furniture. Pricey purses carry very high rental fees.
MYTH #16 -
“Fashion conscientious women will pay hundreds, even thousands of dollars for handbags , everything from Gucci to Kate Spade, but now there is a local company that offers the exact, and we mean the exact, purses for as little as $20….” — KSTP-TV, Minneapolis
Not true, period.
MYTH #17 -
“It can cost a pretty penny…to carry a stylish handbag, and if you want a new bag each season, you’re talking some big bucks, but we’ve found away around it.” — Action News – WXYZ-TV, Detroit
For the rental price you pay, you can easily purchase a gorgeous new handbag every season. Labels: authentic chanel handbags, chanel, chanel designer purses, designer handbags, handbags, melie bianco handbags, purses