Wednesday, June 27, 2007

The difference between borrowing and renting

I've been loaning out a lot of my own stuff lately through Loanables, and I really enjoy meeting and chatting with the Borrowers. I had a great experience today that I wanted to share.

On Monday, a very nice guy named Chris requested to borrow my ladder. He was putting his house on the market 2 days later and just needed to hang some shutters, so he only needed a ladder for a day. He picked it up yesterday. The price was $8 for the day.

Tonight, he was a couple hours late returning it because his A/C died and he had to deal with that crisis. When he returned the ladder, he shoved an extra $10 into my hand and wouldn't let me give it back, then proceeded to thank me profusely for letting him use the ladder. Wow. Just for grins, I checked the rental prices at a local "Depot" store. $26/day for a comparable ladder. If he had been late returning it there, guess what? They would have charged him another $26. Instead of being forced to pay an extra $26, he gladly gave me an extra $10. That's the difference between borrowing and renting, folks.

Just for being such a great Borrower, I've credited his account with $10 in rental credit. And I was glad to do it.

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