Consider other ways to buy the item
If you're not eligible for Centrelink or NILs, consider other options:
Interest-free credit card deals
Many stores offer interest-free deals that let you take goods home before you pay for them. Interest-free doesn't mean cost-free – there are fees and charges! However, it is usually cheaper than renting and you will own the good. Again, use MoneySmart's Rent vs Buy' calculator to calculate your costs.
More about interest-free credit card deals.
Put the product on lay-by
When you have a product on lay-by you can arrange to pay in instalments. Make sure you read the terms and conditions so you know when and how much your payments are, and whether you can afford them (see Step 1).
With lay-by, there's no interest, fees or charges. You may also get a cash discount. The downside is that you can't take the item home until you've paid it off.
Check how much it would cost to use your credit card
If you bought the appliance using your credit card, what would your monthly repayments look like? While we don't recommend using credit cards to buy essential household items, it may be cheaper than renting.
Again, use MoneySmart's 'Rent vs Buy' calculator to calculate your costs.