It is undeniable that building your own home gym is not inexpensive. It’s also difficult to stay up with the latest equipment in the market if you own a small firm. You can acquire gym equipment and it will be upgraded in a short amount of time. As a result, yours becomes outmoded, and you risk losing business to your competition.
If you’re having problems like these, renting to own workout equipment may be able to help. This service allows you to rent exercise equipment with the intention of purchasing it later. The equipment can be used for your business or for your home, and the monthly costs are always lower.
This is not, however, a free or unregulated market. Before you can hire their workout equipment, the renting firms have a series of requirements that you must meet. We explain why renting to own may be a better option for you in this post. We’ll also make recommendations for the best firms to rent from.
Is It Really Possible, Rent To Own Exercise Equipment?
It is possible to obtain exercise equipment on a monthly rental basis in order to own the program. You may not always require permanent equipment. So there’s no need to spend a lot of money on them when you can rent them for a set period of time. You could want to buy something but can’t afford it. This is when you enter into a rental agreement with the potential to purchase later. Depending on the owner, the time can range from 2 to 5 years.
You can rent a treadmill, elliptical, stair stepper, or bike, for example, if you want to do some cardio. You can hire a few pieces of gym equipment if you’re a gym rat. Free weights, smith machines, and rope climbers are examples of this. You may also require a floor mat if you live in a home with hardwood floors. To safeguard your floor, several companies perform a temporary installation on such flooring.
How Do You Rent To Own Exercise Equipment?
You can rent a gym machine and pay a monthly lease cost through the rent to own exercise equipment program. It also has a buy-later option. There are two aspects to the rent to own program: leasing and buying possibilities. You’ll sign a contract to rent workout equipment with the opportunity to purchase it later. This is before the lease time comes to an end. You do not need to have any money during the rental duration. You will be given the option of paying a commitment fee, which is usually nonrefundable. You should be able to purchase the equipment once the rental period has ended. One significant benefit is that you can begin using your equipment as soon as you reach an agreement with the company.
5 Best Rent To Own Exercise Equipment Provider
1. A.E.S Fitness
A.E.S Fitness is a New Jersey-based fitness company. Its services are available to residents of New Jersey and New York City. The firm features a wide range of workout equipment. It has a treadmill, stair stepper, cycle, or elliptical for cardio. They also provide free weights, smith machines, and rope climbers to gym goers.
Temporary floor mats are also installed by A.E.S Fitness to safeguard your floors. This is advantageous if you choose a room in your home to serve as a home gym. The procedure for renting equipment under a rent-to-own scheme is straightforward.
To begin, you must first decide what type of exercise equipment you wish to use. Fill out an application form on their website after that. Cardio, strength, and accessories are all options. They will offer you a quote for the equipment you want and its availability when you submit the form.
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2. Rebirth Fitness
This is one of the greatest companies for renting and buying fitness equipment. Rebirth Fitness provides a variety of services, including machine repair, rentals, and sales. It has been serving consumers in the same domain for over 20 years. They do, however, play an important part in the renting of exercise equipment. You will have a positive experience with Rebirth Fitness since they are customer-focused. Its ability to provide third-party finance is one of its distinguishing features. This is advantageous given how difficult it is to open a gym.
Rebirth Fitness features a variety of well-known brands of cardio and strength equipment. Life Fitness, Body-Solid, Proco, and Hammer Strength are just a few of the brands available. Equipment can be rented for a minimum of two months. You should call them at 866-965-4653 if you wish to rent to own equipment. This is a free phone number. You can also acquire your order statement and status by emailing them.
NY, NJ, CT, RI, MA, ME, and NH are among the states where Rebirth Fitness is available. As a result, if you’re in such areas, get in touch with them to acquire your equipment.
FlexShopper offers a variety of lease-to-own options across the country. It provides services such as technology and furniture. What other gym equipment did you think of? Yes, you’re correct. It is well-known for its space-conscious gym equipment that helps you conserve room in your home. It also provides high-tech fitness equipment, ensuring that you have access to the most up-to-date technology. If you’ve ever visited a gym, you’ll notice that they have a fully functional sound system. Flex Shopper wants you to have a complete gym experience in the comfort of your own home. As a result, sound equipment can be found at their stores.
Do you want to try Flex Shopper’s rent-to-own workout equipment? Here’s how to do it.
- Apply : Flex Shopper provides a simple online application that takes only a few minutes to complete. You have a chance to get up to a $2500 quick spending limit if you fill out the form. This might also result in a weekly payment of up to $113.
- Shop : FlexShop is one of the items that offers a large number of options for clients to choose from. As a result, following a successful application, you will be able to choose from over 85 000 products. Their rental charge is reasonable and is paid on a weekly basis.
- Sign : You will accept the lease agreement when you select the merchandise. This is your product’s “signature” that it will be in your home.
- Lease town : FlexShopper allows you to purchase leased fitness equipment. You are simply required to make all of your payments for a period of 12 months before you may purchase it. Your affordable weekly payment, on the other hand, is usually withdrawn from the account you specified. So, if you want to own the equipment, you must meet the discussed standards.
In practically every section of the country, FlexShopper is available. However, you should always check their website or call to verify if they are accessible in your region.
FitDel is another company that offers rent-to-own fitness equipment. Treadmills and ellipticals are among the traditional cardio machines available. They also have additional workout devices such as assault bikes and rowing machines. They also have weights that take up less space.
FitDel’s customers can choose from a variety of equipment bundles, which is a distinct advantage. You can choose from a variety of machines and receive savings. The major goal is to provide you with a fully functional home gym. For individuals who are having problems with their treadmills, they also offer free call and maintenance. Furthermore, if you want to replace a machine, you will simply have to pay for delivery or pick-up. The FitDel team will then select and transport your machine for exchanging.
The FitDel procedure for renting to own exercise equipment is straightforward.
First step: Choose the equipment you want to use. Following that, you specify where you want it to be installed. The company will then take care of the rest of the procedures. Austin, San Antonio, Waco, and TX are among the cities where it provides services.
5. Local Gyms and Studios
This occurs when your local gyms or fitness studios close their doors. This could be due to pandemics that prevent people from assembling in large groups or sharing equipment. Also, during long vacations when people are spending time with their families. In such cases, they may opt to rent equipment for a limited time. Small fitness studios use this method to stay in touch with their clientele.
Pros and Cons of Rent to Own Exercise Equipment
When you tell folks you’re looking for fitness equipment, they’ll flood you with all kinds of suggestions. You’ll have to decide whether to rent or buy the equipment. Here are some of the benefits and drawbacks of the rent-to-own program to help you make an informed decision.
- Less initial expenditure : The biggest benefit of renting to own exercise equipment is the low initial cost. Many businesses do not require you to pay a deposit. The rental charge is paid on a monthly basis. As a result, you will have your fitness equipment without having to worry about your financial flow.
- Easier to upgrade your equipment : One of the most difficult aspects of purchasing workout equipment is the need for frequent upgrades. This primarily impacts people who run small enterprises. Rent-to-own exercise equipment, on the other hand, allows you to improve without incurring additional fees. The firm from which you rent equipment is responsible for ensuring that you receive the equipment of your choosing.
- Flexible terms : When you rent equipment, it is usually simple to obtain. This is due to the fact that you are not required to meet restrictions such as having positive credit. As a result, if you have a poor credit rating, this is an excellent option for you. You also won’t have to take out any loans to pay for your fitness equipment if you rent to own it. This is because, as previously stated, you will not be purchasing the equipment.
- Time Saving : One of the advantages of renting to own exercise equipment is the time savings. This is due to the fact that purchasing a home necessitates the acquisition of a loan. When you lease a product, it is always ready to use.
- Termination rights : If you are dissatisfied with the condition of the equipment, you have the option to terminate the entire contract with the company. This allows you to always obtain the best deal on whatever is available on the market. You will also benefit from having access to latest equipment when it becomes available.
- Enough time to raise money : It is possible to purchase the equipment later. As a result, renting workout equipment will allow you to save enough money to purchase it.
- High overall cost : When leasing equipment, it may appear to be inexpensive, but it is not. It’s possible that the total amount you’ve paid for the entire lease period will be more. This is true if you are renting for an extended period of time. For instance, if you rent $3000 worth of equipment for three years at $100 per month, you will pay $3600. This entails much more than simply purchasing the necessary equipment.
- You do not own it : You are not the owner of the workout equipment when you hire it. This means that if you take out a loan using your assets as collateral, you may be at a disadvantage. The only time the equipment can stay with you after the rental period is when it becomes obsolete. With most gym equipment, however, this is not the case.
- Compulsory to pay for the whole rental period : You can rent exercise equipment and then stop using it after a while. This does not imply that you will stop paying. You must pay for the entire rental period, even if you are not utilizing the device. If a company’s operations alter, some will give you the choice to cancel. When you cancel, however, you will be charged a termination fee.
- Maintenance cost : When you rent workout equipment, you are responsible for its upkeep. You will have to fix the equipment if it is damaged or in poor condition. However, some businesses will provide insurance coverage in the event of damage. You will, however, be responsible for the insurance even if the equipment is in good working order.
If you were looking for a home gym and thought it would be difficult, you were mistaken. There are various ways to get your gym set up for next to nothing. Rent-to-own workout equipment helps persons with bad credit and others who don’t have enough money to open a full-fledged gym. This isn’t to say that just these people are qualified for rent-to-own workout equipment. You can improve your credit score by renting to own fitness equipment. This implies that no bank or financial institution is engaged in the transaction. So it’s up to you to find out what’s available and reasonable for you.