

But also understand your ISP will likely upgrade or replace your rental modem for free in these cases as well. Upgrading to a newer modem may give you faster speeds, especially if you’re subscribed to one of the higher-speed packages. Your rental modem could be an older or even used model that doesn’t support the newer technology used by your ISP. Plus, if you shop around you can probably find a better modem than the one your ISP sent you. The modem your ISP gave you probably gets the job done, but let’s face it: You can do better. Since most people use the same modem for five to ten years, buying your own is definitely a moneysaver long-term. Though purchasing a new modem requires an initial investment of $50 to $100 (or more for a modem/router combo), your savings on rental fees will enable you to recoup the investment within one to two years. Installing your own modem will likely save you money. Some special modem types-like fiber or satellite-aren’t easily replaceable yet, but the vast majority of us can ditch our rented modems and reap some substantial benefits in the process. But most ISPs also let you buy your own modem, which is fairly easy for the average computer user to hook up. Most ISPs charge anywhere from $4 to $7 per month for the modem that brings you Internet access-and you have to return it when you cancel your service. Every month, we lose the equivalent of a sandwich or a really nice cup of coffee to the modem rental fee that we give to an ISP.
