Designer accessories may be expensive to rent, but renting still can save you money.
"Fifty bucks beats the heck out of spending $1,500," says Karp.
Also, renting for a little while may help you talk yourself out of a more expensive purchase.
"Rent it -- then, you can get it out of your system," says Karp.
Avelle may be the leader in renting out designer handbags, watches and jewelry. Formerly known as Bag, Borrow or Steal, the designer rental company was made famous by the "Sex and the City" movie. It has more than 3,000 styles of designer handbags, jewelry and sunglasses from more than 100 designers, including Louis Vuitton, Prada and Gucci.
You can rent from Avelle for a week, a month or an entire season. If you rent something and decide you want to own it, 50 percent of more of your rental fees may be applied toward the purchase of that accessory.
Damage insurance totaling $150 is included free of charge with each rental to cover potential wear and tear.
"We expect that they will borrow them like they are borrowing from one of their friends and then return the item in much the same way they received it," says Michael J. Smith, Avelle's president and CEO.
You can also rent designer handbags from RentMeAHandbag.com and FromBagstoRiches.com.