Benefits to a third party modem?

Perhaps a little clarity on the subject of just what you mean by third party modem. Dial up? DSL? Cable?

I can not speak of modems for other services, but for Comcast Cable internet the benefit of owning my own cable modem is...

#1. End of the $7.95 + tax monthly fee for the modem itself.
#2. I get to chose a modem with proven performance and reliability instead of have to tolerate what the cable company gives me.
#3. I have more control over the updating and security of my own network versus equipment owned and managed by a service provider.
#4. I can select a modem based on the remainder of the configuration of my network and those requirements.
#5. If I have security, or reliability concerns with my device itself, I don't have to spend hours of my valuable time and stress fighting with my service provider.
#6. I can pre-purchase a relatively "future proof" device to take advantage of the latest standards. I have friends that have theoretically been updated to 50 mbps cable internet two months ago, but Comcast has yet to update their modems past the old DOCSIS 2.0 devices they have so they cannot take advantage of it. I bought my own DOCSIS 3.0 modem and was able to take advantage of the speed doubling on the first day.
 
Mostly eliminatting the monthly lease charge. There is very little to "take control of" since the modems config file is downloaded via TFTP from your ISP. This is how they are able to cap your bandwidth.

If you subscribe to a service that is over 30Mb/s download, then you need a DOCSIS 3.0 compliant modem. DOCSIS 2.0 maxes out at 30Mb/s.

If the modem supplied by your ISP is a combination modem/router and has wireless, you may be able to get a 3rd party modem/router that has better wireless capabilities.
 


The big issue I was referring to was firmware updates... The whole someone else's property issue... You are free to update your own firmware on equipment you own, but leasing is a different animal...