The Cost-Effectiveness of Hiring vs. Buying Fitness Equipment
Go to the gym, they said; it will be fun, they said, after going home with a crippling bill with those expensive gym memberships. As much as some of us would want to prioritise our health, sometimes with the situation we’re in where our monthly bills and home maintenance skyrocket above what we earn daily, skipping our fitness seems like the right thing to do. But these simple tasks that we often overlook sometimes can lead to a variety of health problems that could lead to even more financial stress. Searching for the perfect gym is never an easy task because most of them are too expensive.
Well, the solution to that problem is simple: hire gym equipment. Leasing equipment is much better than paying for memberships or buying it. The convenience of having your fitness device delivered to your doorstep at almost half the cost of buying one can be a big lifesaver to your finances. There’s an affordable fitness equipment hire in Perth if you’re interested in getting one right now. But before that, let’s look at the benefits you’ll get by leasing gym equipment rather than buying it.
Maintenance and Repairs: probably the best benefit you’ll get from hiring gym equipment is you don’t have to worry too much about them breaking down and having to get them repaired because rented fitness gear gets regularly changed annually, meaning newer versions of your choice get delivered right to your home before the old versions even breakdown. Plus, repairs and maintenance are covered by the leasing services. Compare that to buying where you get stuck with one model and are obligated to do maintenance and repair every few months or years depending on the amount of usage you do with them.
Lower Costs Upfront: availing of these services guarantees you lower fees when you pay for them upfront. A deposit is sometimes needed, but compared to purchasing the equipment, you get to save a lot. You’re also not obligated to pay for the whole package right away; some companies have options for monthly or annual dues depending on your financial capabilities and your choice, of course. In contrast, buying would require you to pay the whole thing straight away or get an instalment package where, most of the time, the interest rates are high, costing you a large fortune from your wallets.
Lessening your Taxes: One thing most people often overlook is that leased equipment reduces your taxes, especially if you have rented equipment for a gym business. These are taken into consideration and deducted from your annual tax returns; just make sure to consult your tax accountant first. Not only that, but because you rented them, the tax you pay when you buy products no longer applies since these are funded by the rental company you rented them from. Compare this to buying gym equipment, where you need to take into consideration the huge tax that comes with it.
