Equipment leasing tools are platforms where startups can rent the equipment they need for a certain amount of time instead of making a full purchase.

Equipment is expensive, irrespective of what kind or type they are. Buying equipment for a business involves a lot of planning, as there must be an adequate budget for it. If there are budget constarints, startups will need to apply for small business loans or desperately accept sharky financing offers that could drain their revenues faster than they can hit break-even. And even if a startup manages to buy new equiptment, the expenses don't stop there. Depreciation and management costs can increase cash outflows.

To avoid these undesired situations, it is best to rent equipment. When you lease equipment, you pay a certain amount over a specific period. The rate also depends on the equipment; the contract typically runs for three, seven, or ten years. This is the best choice for startups. You can rent the equipment you want for a certain period and extend it if you need the equipment for a few more years.

To help startups find the best equipment leasing platforms and deals, we have made a list of the 12 top tools in the market right now. You can choose the one that suits your needs and rent your equipment.

1. Herc Rentals

Herc Rentals is an equipment leasing tool that provides services to various industries ranging from aerospace to renewable energy. For example, for aerospace industries, Herc rents high-quality equipment such as forklifts, air compressors, storage containers, and more.

Herc's on-site equipment rental solution helps customers have immediate access to technicians capable of responding to maintenance or service requirements. The tool provides a rental Protection Plan to protect users against the cost of damaged or stolen gear. Herc also provides equipment-safe operation training to teach the user how to use the equipment safely.

Key Features:

• Credit account provision for easier rental transactions.

• Offers four types of lien releases - Unconditional final, conditional final, unconditional progress, and conditional progress.

• Product category includes lighting solutions, safety equipment, compressors, power generators, and more.

Cost:

Contact the company for details.

2. United Rentals

United Rentals is an equipment leasing tool that provides quality products ready to go. It rents equipment from welding supplies, light equipment, and scissor lifts to mini excavators.

United Rentals understands that users of the equipment work in tough conditions where accidental damage can take place at any time to the equipment. Hence, it provides a Rental Protection Plan, which provides added coverage in case something goes wrong. The tool provides 24/7 customer service, and in case the users have any issues or doubts can easily contact United Rentals.

Key Features:

• Small and large rental equipment is available for various climates, terrains, and unique situations.

• Special training for operators.

• Daily, monthly, and yearly rates are available.

Cost:

Contact the company for cost details.

3. Kwipped

Kwipped is an equipment leasing tool that provides rentals and leasing for various types of needs. Users can find equipment for medical to power utility needs. The tool provides great assistance to users. It helps them find the right equipment, payment options, and prices that align with their budget.

Users can search with the filter tool to locate the equipment they need. Then, they can compare the pricing and equipment options from competing lenders and suppliers. Finally, they can choose from the best option and schedule their rental.

Key Features:

• Request for custom quotes and lease offers from competing lenders.

• Manage cash flow with affordable monthly lease and rent options.

• Over 20,000 products are available, and $150 million in assets are from 30 industries.

Cost:

Contact the company for cost details.

4. Equipment Share

Equipment Share is an equipment leasing tool that provides tech-powered rentals. All the equipment which will be rented is powered by T3- The OS for Construction. Users will gain access to manage and track their rentals from EquipmentShare through T3. The tool's fleet management solution can be used to manage and track rented equipment from outside vendors in one place. Users can view all their reserved or on-rent asserts and sort them by purchase order or job site.

The tool also provides rent utilization reports where the T3 tracks and records the equipment's utilization hours and idle time so that users can easily plan their invoices and budget.

Key Features:

• Equipment powered by T-3 tech.

• GPS tracking across the rental fleet with real-time visibility.

• Track rental machine health.

• Equipment keys replaced by cloud-connected keypads.

Cost:

Contact the company for cost details.

5. Big Rentz

Big Rentz is an equipment leasing tool that serves customers in various industries, from agriculture to media and entertainment. Big Rentz offers real-time rental management technology for easy management of accounts and equipment on the go from any device.

For the users, the tool provides equipment rental guides for boom lifts, forklift, scissor lift, crane lift, and dumpster lift equipment. These guides will help users pick the right rental equipment which will suit all their project needs. Big Rentz does local deliveries. These vary by market and delivery company they use. Depending on the market, local delivery can range anywhere from 25 to 50 miles.

Key Features:

• Flexibility on hauling charges.

• Has more than 4,500 suppliers and 12000+ partner locations.

• Convenient and simple interface to locate the right equipment.

• Next-day delivery is available.

Cost:

Contact the company for cost details.

6. Dozr

Dozr is an online heavy equipment leasing tool or rental marketplace. It collects equipment availability and pricing from rental companies across North America. The tool helps contractors find and book equipment rentals near them. It lets you rent equipment by day, week, or month.

The tool automatically adds the Rental Equipment Protection Plan to any equipment on Dozr to remove the worry of accidents and damages. It covers up to $500,000 for all Dozr rentals.

Users can rent from heavy equipment suppliers, including Hyundai, Bobcat, Cat, JLG, New Holland, Hitachi, Deere, and more. This tool allows users to set their location to see rental companies, prices, and construction equipment providers available in their area.

Key Features:

• Compare prices and availability from various rental companies with one click.

• Book, track, and manage equipment at any point from any device.

• Customer service or assistance team available.

• Rental equipment is available from over 15,000 plus rental partners.

Cost:

Contact the company for cost details.

7. Rent Alpha

Rent Alpha is an equipment leasing tool that provides various equipment. It has partnered with OEMs and vendors like Apple and Lenovo. Users can rent anything from the tool except for registrable employee vehicles or real estate tools. Users can rent equipment from this tool which becomes obsolete relatively quickly. Laptops, PCs, and servers have a limited lifespan. This tool allows users to replace or upgrade once they become outdated.

The tool allows users to opt for quarterly payments on fixed data for simple administration. The tool has an exchange plan where users have the flexibility to replace any equipment they need. Users can upgrade or exchange equipment without an increase in their rental payment.

Key Features:

• Customers can lease all brands under a single contract.

• Rent Alpha's Online Contract Management, a web-based application, helps track the rental contract and equipment.

• Provides high flexibility.

Cost:

Contact the company for cost details.

8. Loxam

Loxam is an equipment leasing tool that provides rental agreements from one day to the time the customer wants. It provides various equipment for cut drills, electronic power, green spaces, earthworks, demolition, and more. The tool has different categories the user can choose from for rentals.

Loxam TP is for heavy equipment rental. The equipment is selected from the world's largest manufacturers. Loxam Power offers global turnkey services. Loxam Module provides modular construction rental. It offers tailor-made, scalable, and technically efficient solutions.

Key Features:

• Book rentals in one phone call.

• Training is available on how to use the equipment safely.

• LOXAM club, a loyalty program, helps in earning points through rental, which are later converted into discount vouchers.

Cost:

Contact the company for cost details.

9. Boels

Boels is an equipment leasing tool that provides rentals for various sectors, from events to warehousing. With this tool, users can rent equipment for an uninterrupted time of one to fivers with no additional costs.

The tool provides 100% security. It provides a fixed all-in weekly price with no additional costs. The amount of the rented equipment remains the same during the rental period. If the machine needs replacing, the tool immediately provides new equipment. The tool delivers equipment within two working days from the day request is placed. If the equipment is outside their range, it will take five working days.

Key Features:

• Rentals are available through one call.

• On-site rental is available immediately. For example, equipment like wielding wires and cutting equipment.

• The on-site rental system provides information regarding all the equipment available at the location.

• Maintenance facilities are available.

Cost:

Contact the company for cost details.

10. Equipment&Services

Equipment&Services provides industrial equipment for startups. It provides higher standard rental equipment, sales, services, and parts. The tool has locations across the United States, and they leverage a local approach to make renting easier for users.

The tool works closely with the users to understand their needs and provide them with fair prices and the best support or service team. The tool offers diverse and large equipment. It has an inventory of construction, heavy, earthmoving, and more equipment. They rent on a daily, weekly, monthly, and yearly basis.

Key Features:

• Rental dashboard is available for invoices, contracts, and other rental information.

• Affordable rental rates.

Cost:

Contact the company for cost details.

11. Sunbelt Rentals

Sunbelt Rentals is another equipment leasing tool that you can consider choosing. It provides equipment for any type of project. The tool provides an expanded mix of equipment for rental. It offers small tools and general equipment to specialty gear. With the tool's digital platform, users can manage their rental, fleet, and job sites.

The tool provides a single rental to a long-term turnkey plan and solution requiring technical expertise. The tool offers climate control services, flooring solutions, industrial services, ground protection, and more.

Key Features:

• 24/7 assistance available.

• Training by professionals on how to use the equipment.

• Manage your rentals from one platform.

Cost:

Contact the company for cost details.

12. Sunstate Equipment Co.

Sunstate Equipment Co. is an equipment leasing tool that assists in providing industrial, construction, and other rental equipment. It has a full fleet of powerful equipment from top brands. They offer rental experts to users to pick the right equipment for their job or project.

The tool increases job site efficiency by providing reliable scheduling, live and local service support, advanced communication, and more. The tool has enhanced backend support, providing accurate invoicing, comprehensive reporting, and fast lien releases to simplify project management.

Key Features:

• Well-maintained high-quality equipment.

• Quick delivery of equipment to the location.

• Trainers will train the staff on how to use the equipment safely.

Cost:

Contact the company for cost details.

Things to Consider While Choosing Equipment Leasing Tools

Your Monthly Budget

Even though you lease or rent the equipment, you must consider your monthly budget. Check if leasing the equipment is affecting your monthly cash flow because if it is causing a disturbance, the tool will not be effective. Look for tools that provide equipment that you can afford.

How Quickly Will the Equipment Become Outdated

Equipment connected with technology can become outdated quickly. Check obsolescence before investing in the equipment. Consider how long you need the equipment and how much you will use it in your startup.

How Long Do You Need the Equipment

It would be best if you considered the duration. Check for how long you need the equipment, and then lease it. Do not lease the equipment for longer durations when you are not sure. You can always renew your contract.

Conclusion

These are the top equipment leasing tools you can consider looking at when you wish to rent equipment. These tools will help you save money as well as work with high-quality equipment. The above-mentioned tools provide assistance at all times and training. Hence you do not have to worry about anything. Leasing is always beneficial when you are running a startup.

FAQs

What Are Equipment Leasing Tools?

Equipment leasing tools are platforms that help startups or business rent industrial or any sort of equipment rather than purchasing them. You can lease equipment such as computers, machinery, or vehicles if you think they will be expensive for your budget when you purchase them upfront. These tools let you lease equipment for a specific period, and once the contract has ended, you have to return the equipment. If you wish to continue to use the equipment, you can renew your contract with the tool.

When Should I Consider Using an Equipment Leasing Tool?

You must consider using an equipment leasing tool when you think that you do not have enough budget to buy certain equipment. You also consider using these tools when you do not want to invest in equipment by purchasing because you need it only for a specific time. In these situations, equipment leasing tools will be beneficial as they save you money. You will be only renting the equipment; hence you can always use the saved-up money for things that are more important or need investing.

What Are the Benefits of Equipment Leasing Tools?

Here is how you can benefit from equipment leasing tools:

• These tools are cost-effective. You do not have to pay the full amount compared to purchasing.

• If you need the equipment only for a few years, you can you these tools to lease instead of buying.

• Since the equipment is on rent, you can upgrade whenever you need more advanced equipment.

• By using these tools, you can get tax credits at times.

What is the Equipment Financing?

Equipment financing is the process where a takes a loan to purchase equipment and pay it off over a certain time. The equipment is the collateral. Once the loan is fully paid, the business owns the equipment.

An equipment lease means that the business does not own the equipment. Once the contract ends, they have to give the equipment back.

How Does Leasing Equipment Work?

The process is straightforward. You pick an equipment leasing tool and choose the equipment you need. Once you decide, you enter into a rental agreement with the vendor. The agreement states the price, duration, and a few other clauses. You rent for each month till the deal expires. You can renew the deal if you wish to. The price of the rental varies for each vendor.