For the most part, e-ink readers are black-n-white only (the tech exists for color e-ink, but it's still in its infancy). If you wish to read color graphic novels in color, you'll need a tablet. If the graphic novel is in black-n-white (or you don't care if you read it in black-n-white), an e-ink reader will be fine.
If you go to the product page and click "available only on these devices," you'll get a list of compatible Amazon/Kindle devices. I probably wouldn't read a graphic novel on my Paperwhite, since the 6" screen would shrink the images down quite a bit.
Checking Kindle books out from the library is simple, but availability of any particular book will be up to your individual library. Your library might even have e-readers for you to borrow.
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