I want to use my own modem instead of renting from Sonic. What is the basic procedure for setting it up?
Many ADSL2+ modems just plug in and work. In some cases, particularly with used modems, you need to disable PPPoE (setting can be confusing since it is called different things on different modems). Some modems come with ISP specific firmware, and can't be flashed to generic firmware.
Unless you're ready to support yourself on this, consider the rental. While it is no bargain, it will just work and someone will have your back. Sonic offers one model of router, a mid-end all-in one. They don't offer a supported bridge or modem-only.