Carry a high-end handbag even if you're on a budget
Filed under: Reduce, Reuse, Recycle, Shopping, Daily Deal
Are you perpetually in love with handbags you can't afford? Do you wish for the means to be among those who carry Gucci and Louis Vitton? If so, look no further. Bag, Borrow, or Steal gives ordinary women the chance to carry high-end handbags without the expense of purchasing them. The concept is simple: After paying a membership fee of $9.95 per month, you can rent any bag in their collection for as long as you want. Rental fees start at $15 per month (which doesn't get you much) and go all the way up to $2,000 per month for rare vintage bags.
Typical rental fees run from $100 to $500 per month, and get you access to names like Donney & Bourke, Coach, Fendi, Kate Spade, and Burberry. Higher monthly fees are reserved for Gucci, Prada, Chanel, and Dolce & Gabbana.
Does it sound like a deal to you? Well for those who like traditional looks and are known to carry the same bag for a year or two, renting a bag won't make sense. For those whose tastes change frequently, Bag, Borrow, or Steal makes perfect sense.
And if you fall in love with a handbag that you can't bear to part with, you can "Steal It," purchasing the bag after the company evaluates the condition of the bag and the availability of it on the open market.
Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
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Reader Comments (Page 1 of 3)
1-14-2008 @ 4:28PM
holly said...
why would anyone want to rent when you can buy the same at any flea market in central florida, for cheap.
Reply
1-14-2008 @ 4:55PM
sandi lynn said...
Personally, I think this idea is ridiculous. The money that you spend "renting" one of these bags could be saved for more important uses; perhaps food on the dinner table, donated to charity, filling your gas tank (since it's not getting any cheaper). Some of these monthly fees are just as much as if you were to buy one of these coveted purses. I myself, OWN an $800 Louis Vuitton purse. It was not a vanity purchase, not an impulse purchse.... it was a gift TO myself FROM myself for turning 30. :) Lastly, if you can't afford any of these purses, don't buy a knockoff and play it off like it's real. That's tacky. It's just as bad as rent-a-purse. Have a lovely day!
Reply
1-14-2008 @ 9:31PM
JACKIE said...
I CAN'T BELIEVE SOMEONE WOULD RENT A BAG I HAVE THREE LOUIE BAGS WITH MATCHING CHECK BOOK HOLDER AND CHANGE PURSE WHICH WAS A GIFT FROM MY DAUGHTER . WHAT I DO IS I GET ONE EVERY TWO OR THREE YEARS. DEPENDS ON HOW MUCH IT COST. SO EVERY COUPLE OF YEARS I GIVE MYSELF A PRESENT AND BUY MYSELF A LOUIE. I HAVE THE BACKPACK WHICH I GOT IN 2000 AND I USE IT ALL THE TIME AND IT STILL LOOKS GREAT SO WHEN MY HUSBAND SEE IT HE DOESN'T COMPLAIN BECAUSE I GOT ALOT OF USE OUT OF IT. TELL ME ARE YOU STILL WALKING AROUND WITH A CHEAP BAG YOU PURCHASE IN 2000 OR IS IT IN THE BOTTOM OF YOUR CLOSET OR AT THE GOODWILL
1-14-2008 @ 4:58PM
allie said...
This is such a scam. The prices they charge to rent a bag for a month (a used one, at that) are the same prices that it cost to actually BUY the bag in a department store! Coach, Dooney & Burke, etc...they are all in the $200-$600 range. And I know if I had $2000 to spend on a bag, I certainly wouldn't use it to RENT one...um, hello? You can buy a decent bag for $2000!
Two words: Canal Street. $50 and you can keep it forever. Only die-hards can tell a Canal Street fake from the real deal.
Reply
1-14-2008 @ 9:41PM
luna said...
Do you know that buying a knock-off in Canal and anywhere else is helping to fund terrorism and child labor? You can also tell if is fake or not. Not to mention the fact that with a fake you would have to replace it every couple of years due to wear and tear. At least with a real one you will know what you get and its a bag that practically lasts forever and the value actually goes up. think about that before buying a knock-off. Its just plain tacky.
1-14-2008 @ 5:02PM
JODI said...
COME ON LADIES. DO WE REALLY HAVE TO MEASURE OURSELVES BY THE COST OF THE PURSES WE CARRY. SERIOUSLY, WHY NOT BUY A DECENT PURSE UNDER 100.00 AND DONATE THE REST OF THE MONEY YOU WOULD HAVE SPENT ON AN OUTRAGEOUSLY PRICED PURSE. TRUST ME, YOU WILL FEEL GOOD ABOUT YOURSELVES KNOWING THAT YOU'VE HELPED SOMEONE IN NEED.
Reply
1-14-2008 @ 5:03PM
joan said...
Holly, you said you can buy the same at any flea market in central Florida? I want to buy a Fendi Spy bag cheap (retails for $2100+). Please tell me....which flea market did you see this bag in? lol.
Reply
1-14-2008 @ 10:03PM
luna said...
Honestly, you don't want to get a designer bag at a flea market because more than likely it will be fake. If you dont want to pay full price for a designer bag you can try bluefly.com or if you want a vintage designer bag you can try consignment stores or estate sales.
1-14-2008 @ 5:11PM
Tracy Coenen said...
Depending on your handbag habits, it can definitely be worth it. Take for example this Louis Vuitton Damier Azur Speedy 30. It retails for over $600, but the rental fee is only $113 a month. If you like to change handbags frequently, the rental fee will be a steal!!!
http://www.bagborroworsteal.com/product/10057/Handbag/Louis-Vuitton/Louis-Vuitton-Damier-Azur-Speedy-30/18
Reply
1-14-2008 @ 5:12PM
Tangie said...
I agree with what the other ladies said. It's really foolish to spend so much money renting a purse when you can use the money for something else. If you don't get a designer purse for a present (a friend of my mother's gave me a small Burberry purse as a birthday present 2 1/2 years ago), you can go on ebay and bid on some designer purses or buy them outright. I got a small Prada purse (but I thought it was going to be larger) for under $100. The first time I bid on it, I was outbid, but the person ended up not buying for some reason and I didn't want to pay the winning bid price. I was blessed to get it again by waiting at the rebid sale and getting the purse for only $90.00. So try that instead.
Reply
1-14-2008 @ 5:20PM
Cissy said...
How insanely ridiculous this rent-a-bag scam is!!! I have gotten excellent buys at the Coach outlet store. Bags marked down half price, then another 20 to 40 percent off that. Who cares if they are last year's style?? I have gotten a couple of great bags for under $150.00. Anyone who spends hundreds or even thousands of dollars on a handbag needs a gut check.
Reply
1-20-2008 @ 8:51PM
Sharon said...
Cissy,
Where are the Coach Outlets??
1-20-2008 @ 8:40PM
karen said...
there is a good Coach outlet in Santa Barbara on State Street.
1-14-2008 @ 5:22PM
monica said...
Joan, if your looking for a Fendi spy bag i have one im selling. I read your comment and thought i'd ask if you wanted to buy it? I live in Michigan, and i can ship it to you. I can use paypal for the payment. Renting a bag is stupid!
Reply
1-14-2008 @ 5:39PM
BunnyNutz said...
Does anyone realize that most of those fake/counterfeit bags are made by women and children in sweat shops? Is it so important that you impress others with a logo?
Reply
1-14-2008 @ 5:55PM
Sally said...
Come to the Flea Market, Bine Pine Key, Florida Keys on any Saturday or Sunday and you'll find stands selling hundreds of these handbags cheaply...
Reply
1-14-2008 @ 6:05PM
SKW said...
I just shove everything in my pockets. Then again, I don't wear makeup so I only have a cell, wallet, keys and an inhaler. Maybe you shouldn't carry around as much stuff and what you can't get in a pocket, carry a tote you decorate yourself from Michaels.
Reply
1-14-2008 @ 6:07PM
daisy said...
ew. not only is this absurd and rediculous, it's disgusting. Handbags/purses are known to be so laden with bacteria and germs, even disease! (yes, i saw this on the montel williams show the other day). they said purses carry more germs than the doorknob to a public bathroom. you rent these handbags, you do not know who has handled them, what has been on them, and whats on them. filthy.
Reply
1-14-2008 @ 6:16PM
Jenn said...
Does anyone realize that most of the designer bags are made in sweatshops as well?
Reply
1-14-2008 @ 6:28PM
Annette Phillips said...
I LOVE designer handbags, but would NEVER rent them. Just the thought of all those GERMS makes me ill. AND I'm really sensitive to strong perfumes - if someone had the bag before me and used some nasty perfume, I wouldn't even be able to use the thing. I think I will stick my own collection of handbags - renting them is a rip off!!!
Reply