You know you are renting that router, right?

So you’ve been with your cable/internet company for over a year now and still have not purchased a modem/router of your very own? What are you waiting for? 

Do you know how much you are paying and have paid for that modem/router combination? In today’s world of auto-pay, where so many bills can be automatically paid by your credit card or deducted from your bank account, many people don’t even look at their cable/internet bills.  I have to admit I’m guilty of not reviewing my internet bill occasionally. Of course I really take notice when the monthly cost increases!

If you didn’t know the cost of renting this equipment – it is about $15 a month. So let’s do some quick math here: $15/month for 36 months = $540! For that kind of money you could own three brand new modem router combinations directly from your service provider. But who needs one new router let alone three?

Let’s look at the savings in terms of what other bill you could have paid or purchase you could have made:

  1. You could have made a car payment – or two, depending on what kind of car you have. 
  2. You could have bought season tickets to your community theater for you and a friend and still had money left to go to dinner before each play.
  3. You could have bought a plane ticket to someplace that you have always wanted to visit.

It is in your bank account’s best interest to purchase a router/modem combination unless you’re someone who jumps from provider-to-provider every year. And if you’re really savvy you’ll purchase a used one. There is ALWAYS someone selling modem or routers or router/modem combinations because they’ve switched internet providers or they are moving or they upgraded their equipment. You can generally find the equipment for about half price. And if you find someone who is looking to unload their equipment quickly, it’ll be even less expensive.

Here is the effort you need to put in purchasing your own modem/router combination:

  1. Determine which model number(s) will work with your internet provider. The internet provider’s website should tell you the models that are compatible with their service.
  2. Spend a little time on Craigslist or Facebook Marketplace searching out the particular models that you are looking for.
  3. Drive to pick up the router/modem from the person selling it.
  4. Call the internet service provider and walk through the steps of setting up your new router modem.
  5. Return the rented unit. The internet service provider should provide you with a UPS return label for your convenience.

I estimate all those tasks can be completed in four hours or less.

In my experience the average price for a used combination unit is about $50 to $100 depending on who your internet service provider is and how bad the person selling it wants to get rid of it.

Setting up a purchased modem/router is just as easy or as complicated as setting up one that you receive from Verizon or Comcast. So if the setup is just as painful or simple whether it’s your equipment or their equipment, why not save some money?

I bought my modem/router for my new internet provider for $20! In two months that modem/router had more than paid for itself! Bear in mind that I didn’t buy a top-of-the-line modem/router. I don’t have a house full of people accessing the Wi-Fi and I don’t have a lot of square footage to cover (1200 sq. ft.). I do however work from home mostly which requires a consistent and fast internet connection in order to VPN to the servers and engage in video calls regularly. I have three additional devices connected to the Wi-Fi at all times: phone, tablet and TV.

I have to admit that I rented my router modem combination from my last internet provider for many years and wasted a lot of money. I think mainly because I was a little skeptical of getting the router/modem configured to work properly. I switched internet service providers two years ago and I opted to purchase a router/modem and not rent one. Switching from the service provider’s equipment to my own was an easy process once I was able to connect with a qualified customer service representative to walk me through the process. Don’t let “the process” deter you. Just because you’re receiving the equipment from the cable company doesn’t mean it’s going to be an easier process getting it up and running. I watched a girlfriend spend well over an hour on the phone with her provider, trying to get all of the new cable boxes working because her provider recommended upgrading the equipment. She went from room to room, resetting the boxes and walking through the connection process over and over and over again per the support representatives instructions and still went to bed that night with no cable TV.

NOTE: Unless you’re really tech savvy remember to look for a router/modem combination and not a separate router and modem.

The only downside to purchasing your equipment is if the router/modem stops working then you’re responsible for getting a new one or repairing it. The internet service provider will not help you.