The term rent rather than buy is self-explanatory. The primary benefit to customers is that they avoid the upfront costs associated with a direct purchase, allowing them to obtain products they might not have been able to afford otherwise. Renting avoids the need to lock up capital for extended periods of time, providing customers with greater financial flexibility. Many people greatly value these benefits - particularly when it comes to capital-intensive assets. This provides a greater opportunity for sales than an outright purchase. A necessary precondition for offering Rent instead of Buy is the ability to finance the products in advance, as revenues will not be received until a later date. Renting is similar to Pay Per Use in this regard, but with the significant difference that rents are determined by the duration of use rather than actual usage. The transition from Rent to Buy to Pay Per Use is frequently quite fluid, as evidenced by rental car agencies charging an additional fee on top of the base rate when customers exceed the stipulated mileage limit.

When and how to apply Rent lnstead of Buy:

This pattern is extremely versatile. If you sell products or services at a set price, you might consider renting them instead. Indeed, if you choose to do so, you will be able to capitalize on a growing trend: people want to use things rather than own them. This trend, which began in the consumer goods industry, is already affecting the automotive industry and is expected to spread to other sectors.
Well-known companies that use this pattern are Meine Spielzeugkiste and Getaround.