Handbags for rent

The economy is draining nearly everyone. But if you have a few bucks to spare and want to treat yourself, consider renting a flashy new handbag. Renting is cheaper than buying, though there are pitfalls.

A Wall Street Journal reporter recently tested out four handbag online rental businesses.

"All of the sites were well-organized in categories such as styles and designers," the story says. "The companies provided excellent, prompt service and hassle-free return procedures using preprinted labels."

Rental fees at the four companies, Bags to Riches, RentMeAHandbag.com, AllThatBags.com and Bag Borrow or Steal, can range from $15 a week to as much as $400 for runway bags from Dior and Jimmy Choo.

The sites offer optional monthly memberships, which lower the rental fees but add up quickly if you don't rent frequently. The sites also sell insurance if you are worried about messing up the bag. Some of the rental services also sell the bags after they have been rented a few times.

The story shares the authors experience renting one bag from each site.

"The services may be ideal for glamorous one-time evening bags that we wouldn't normally buy, such as a $990 Dior bag that we spotted online," the story says. "But otherwise, it may be more cost-effective to purchase one or two designer handbags for everyday wear and own them indefinitely."