Save Benjamins’ by buying your own cable modem
Do you know how much cable companies like Comcast make on modem rental fees from customers like you?
Let’s break down the numbers:
- Comcast has an estimated 26 million internet customers
- Average rent fee for a cable modem is $13 / month
26,000,000 Customers
X
$13 / month rental fee
=
$338,000,000 monthly revenue
Okay, not all 26 million people are crazy enough to donate $13 dollars a month to Comcast, right?
Well.. the reality is that 90% of the 26 million are renting their modems. Let’s redo the math:
23,400,000 Customers (90% of customers)
X
$13 / month rental fee
=
$304,200,000 monthly revenue
Roughly 33 million dollar difference – No biggie (for Comcast).
The point is that BIG cable companies make a SHIT TON of money from customers like you and I on rental fees alone. More than a BILLION dollars a year. This is crazy. Let’s do something about it.
So what I do about it?
STOP donating to your cable company and buy your own modem!
It’s easy, any one can do it. Cable companies don’t want you to do this because it puts money in their pocket but they can’t stop you. But first, let’s look at the story of John, Susie and Billie:
John is angry. He read this post and found out he donated over $700 dollars to Comcast over the last 5 years of being a customer with them because he was renting his cable modem. He is going to purchase his own modem right now. You can’t tell now, but John is starting feel like he is taking control over his life and has a growing smile inside.
Susie is happy go-lucky. She also is a loyal customer of Comcast for the last 5 years like John. However, she bought her own modem last year for $50 bucks. Susie donated $624 in all but after buying her own modem she knows she is no longer getting ripped off and can run happily ever after. Oh and the $50 bucks she spent on her modem? She made that back in less than a year!
Billie, oh god Billie – where do we start? Well, Billie is rich. Billie has been a loyal customer of Comcast for the last 6 years and has no interest (even after reading this) of buying his own modem. Billie likes to donate. Fast forward 4 years and $1,560 in donations later, Billie is still good ol’ Billie. If only he’d donate to us vs large cable companies. SMH.
The moral of the story is that it is okay to be John – it is even better to be Susie but for god sake don’t be like Billie (Unless you are rich). And let’s face it, we all are in one shape or form. But still begs the question – why make companies like Comcast rich vs making your self richer?
Okay, the mic drop convinced me.
How can I buy my own modem? And what do I need to know?
Here are three modems that’ll get you up and running – lickity split:
I want to be transparent and say do not buy a modem if you have home Phone (who has this nowadays, anyway?) & Internet service with your provider. Buy one only if you subscribe internet or internet + cable tv with your provider.
1. ARRIS Surfboard Cable Modem (no-wifi) – $69
Certified for Comcast Xfinity, Spectrum, Cox, Cablevision & More (SB6183 White)
Look – this is a nice modem. This will work for 99.9% of you out there.
PROS:
- Cheap – Get your money back in 6 months!
- DOSIS 3.0 – you can’t go wrong
- 3,000+ 4 star reviews!
CONS:
- Have to hide it somewhere in a closet (but who cares? as long as it saves $’s)
- You will need a wifi-router (but you should have one of these anyway)
2. MOTOROLA Cable Modem + WiFi Router – $129.98 (buck 30)
Certified for Comcast Xfinity, Spectrum, Cox, Cablevision & More (MG7540 Black)
Up your game with this modem and wifi router combo.
PROS:
- Money back in less than a year!
- Comes with a wifi-router so you don’t have to purchase one
- 1,400+ great reviews!
CONS:
- Let me know if you think of one
3. NETGEAR DOCSIS 3.1 Gigabit Cable Modem – $169
Certified for Comcast Xfinity, Spectrum, and Cox (CM1000 Black)
Woah – this modem is the shit. Top of the line. Only get it though if you are a nerd or have the fastest cable speed from your provider ( I mean the fastest they offer)
I bought my modem, what do I do now?
Did you really? If yes, AWESOME! Give yourself a HIGH freaking FIVE. Okay, let’s get you up and running. Follow these steps next:
Step 1:
- Unplug your existing modem and router (if you have one)
- Plug in your shiny new modem (hide in the closet if you have to) and wait 5-10 mins for all the lights to come on
- Plug in your router (if you have one). If not, connect your computer to your new modem via Ethernet port
Step 2:
- Open up your laptop and go to https://register.be.xfinity.com/activate
- Click “Let’s Get Started” (They are excited – but don’t know you have your own modem yet :))
- Login with your Comcast user name and password
- Wait 5-10 mins for activation
- Go to your favorite website and make sure you can access web
- If you run into issues, call Comcast @ 1-800-931-0790
Step 3 (Important):
- Return your old modem to your nearest Comcast service center and monitor your bill to make sure the rental fee is not on there for next months bill (keep your receipt that you get from the service center)
- Click here for service center locations
That is freaking it! One, two, three and BAM you are a ROCKSTAR! You have taken back control of your life and saved thousands of dollars doing so!
If you are with any company other than Comcast, please follow activation steps on their respective websites.