Renting or Buying Film Equipment: Which One is Better and Why?
Most filmmakers decide to either invest in buying film equipment or rent it when making a film.
The decision depends on the budget, requirements for the project, and the importance of carrying long-term value.
Now, owning one's gear is very attractive—and suits well with filmmakers with huge budgets and long-term needs.
However, renting film equipment has numerous benefits for those producing a budget-conscious product or working on a short-term project.
Filmmakers receive access to top-of-the-line technology that might otherwise be unaffordable at a tiny fraction of the cost, save the hassle of maintenance, and can choose the best tools for the task.
In this guide, we’ll examine both options in detail and evaluate which is most beneficial for you.
Cost Comparison: Renting Vs. Buying Film Equipment
Cost influences this decision heavily since filmmakers who work on low budgets or manage several short-term projects usually require a cheaper and more flexible option than costly equipment.
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Buying film equipment is a huge upfront cost.
For instance, a high-end camera costs $50,000, beyond the budget of independent filmmakers or small production houses.
This huge one-time expense drains resources and earmarks the buyer for a technology that may quickly be outdated.
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Rentals enable filmmakers to access premium gear, allowing them to use even some of the top-of-the-line cameras such as the ARRI Alexa Mini LF, which costs them $80,000 to buy.
They can rent the same camera for $400-500 a day, implying that you would have had to hire it for over 200 days to meet the price of buying it.
That's more than enough days for any filmmaker to complete several projects without worrying about the long-term financial burden of owning them.
Renting also saves filmmakers money on accessories or add-ons—most rental packages include everything they need to start shooting.
Renting provides access at little or no expense for an upfront cost, whether it's specialty lenses, lighting, or audio equipment.
Maintenance, Storage, Insurance, and Depreciation Costs
Most filmmakers also fail to realize the hidden costs of owning equipment, including perpetual maintenance, repairs, insurance, and depreciation. All these costs and concerns disappear when you rent, because rental companies maintain the equipment to keep it in good condition every time you use it. Let's explore these in a bit more detail.
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Equipment ownership means a maintenance cost.
Camera, lenses, light, or sound will require continuous maintenance to keep it in working condition.
Servicing, parts replacements, and repairs can add high costs to your budget for such equipment.
For technical gear requiring specialized technicians, these costs multiply rapidly.
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Depreciation is another significant consideration.
Top-of-the-line technology may become outdated in two or three years.
When newer models arrive on the market, a high-end camera will depreciate by tens of thousands of dollars.
After investing tens of thousands of dollars in gear, the resale value is often much lower than the original price.
Renting eliminates that concern. Filmmakers can work with the newest models without worrying about their depreciation.
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Storing and insuring film gear is another cost.
You need space to store large, bulky items like lighting rigs, camera bodies, and lenses, and these costs rise with rent, especially in cities.
Insurance for valuable filming gear is also complex and costly, considering one needs to cover theft, damage, or loss. These policies can rack up quickly, costing anywhere from $600-$4000 a year.
Access to the Newest Technology
One of the biggest pluses of renting film gear is access to the latest technology—you can have all the latest without committing the big dollars.
This provides a solid edge in an industry where technology advances fairly quickly.
Owning equipment obligates you to use it for a long time, even when newer models are introduced.
Filmmakers can rent this problem away, allowing them access to the newest gear.
Rental companies can provide the filmmakers with the newest gear as soon as possible to keep up with other filmmakers.
Flexibility and Project-Specific Customization
Renting film equipment offers unmatched flexibility and convenience that buying cannot match.
Flexibility is important, especially for filmmakers working on different projects without long-term financial commitment.
Moreover, every film project is unique, and so is the equipment required.
Thus, this is where renting caters to the specific requirements of a shoot.
Be it a high-budget commercial or a low-budget indie documentary—you can pick the right gear without worrying about whether your equipment will suffice.
No Long-Term Commitments
Owning equipment ties you to it in the long run—thus, when new projects require other or advanced technology, you're stuck with it.
Renting gives you full flexibility when switching gears without getting stuck with any long-term commitment.
No Hassle Returns and Repairs
Among the most important advantages of renting is saving yourself from the hassle of long-term storage or repair.
After using the equipment, you return it to the rental house.
If specific equipment has defects, rental houses replace or repair them quickly, and your project does not have to wait due to waiting periods.
Why Renting Film Equipment Makes Sense
Film equipment rental offers many advantages over buying.
Renting provides easy access to the most advanced filmmaking technology without worrying about depreciation, storage, or flexibility.
Renting is usually the smart option for filmmakers who want to keep up with the times while keeping budgets balanced.
If you’re interested in renting film equipment, at DFI Rentals, we’d be more than happy to help service your next project.