At the rate that camera technology is changing, it makes little sense for someone on a student budget to go out and buy a camera when one with better resolution, lens quality and more convenient footage acquisition is almost always lurking six months around the corner. The large video camera manufacturers are almost constantly engaged in a game of one-upmanship to provide better cameras and better price points for a range of amateur and pro-level users alike. There are a variety of pros and cons on whether you should buy or rent a camera, but it all boils down to your individual needs.

WHY BUY?

Knowledge is Power

Owning your own camera allows you to have it with you at all times, which allows you to learn the ins and outs of the camera and its features. When you’re renting, the clock (and the meter) are running, which makes most people rely on the camera’s default settings. Having the time to customize your own settings can allow you to create unique looks that could help your picture stand out.

Time is of The Essence

If you’re doing work for other people, having your own camera can allow you to function as your own business, which is good if someone who is hiring you on short notice. It’s a nuisance when you have to call rental houses to see if their equipment is available and often clients that are bogged down by their own time constraints don’t want to wait around while you figure out where you are going to get your camera from.

Mo’ Money

Renting out your camera or yourself as a freelancer is a good way to pay off money spent on buying the camera. While you can also negotiate a price for your services that will cover your rental cost and ensure that you make some money for yourself, be realistic. Clients are also privy to how much a camera will cost to rent and they might rent it themselves and find their own cameraman to do the work for free. It’s good to be reasonable, especially if you’re just starting out. Sometimes the experience and the chance to show your stuff can lead to more (paid) work down the road.

Write it Off!

Cameras can be declared as an expense if you are a registered business. I’m not sure if the same applies to rentals (if anyone knows this, please let me know!) If you’re leasing the equipment, those payments can also be claimed as business expenses.

WHY RENT?

Times WILL get Tough

The nature of freelance work and personal projects can mean lots of down time. A friend of mine who makes corporate videos has been out of work for stretches as long as four months! Also, finding or writing a story and developing it can take some serious time and usually the poor camera is just sitting there waiting to be used. Renting on a per-project basis is often a good idea especially if you don’t have some sort of plan or reserve of cash to cover your bills when times get tough and the projects are trickling in.

Cameras don’t suffer Broken Hearts

Renting is like being single. You can walk in to a rental store and not feel committed to any one particular camera. In fact, many rental houses will let you sit in with a camera, provided that it is not rented out, so that you can play around with it and get to know it while asking the all-important questions of the professional staff that are at hand. Oh, and luckily cameras don’t suffer from broken hearts.

The Right Tool for the Right Job

Different projects often require different tools. Cameras are no exception. Some of them have exceptional low-light performance, while others may be better at capturing slow-motion. Video is also rife with a myriad of video codecs, so it pays to do your research to see if the codec that your camera shoots in won’t choke your video editing program’s CPU.

YouTube It!

There are a load of tutorials and footage tests posted on YouTube as well. All you have to do is type in the name of the camera and you’re sure to find shots using the camera you’re curious about in a variety of shooting conditions.

At this point, it makes more sense for me to rent than buy, but I’m also a bit impatient. I like just grabbing the camera and going out and shooting whatever suddenly occurs to me. Also, rental houses usually ask for pretty substantial security deposits if you’re renting their equipment, which can often be a third of the cost of the camera itself!

Most student credit cards don’t have the monstrous limits to support the deposit required of certain high-end cameras, which limits them from accessing the good stuff. Thankfully, most rental houses offer student discounts, which help ease the pain. As a solution, you can get a parent to us their card for the security deposit and usually the rental house will allow you the student rate. I’ve done this on many occasions, which has allowed me to make some good quality stuff. Now if only I could get MY limit down…