Equipment Rental Cost Calculator

USD/day
USD/day
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USD
USD

How to Calculate Equipment Rental Costs

To calculate the total cost of renting equipment:

  1. Daily Rental Rate: Multiply the daily rate by the number of rental days.
  2. Insurance Costs: Add daily insurance fees multiplied by the rental days.
  3. Additional Fees: Include any extra charges like delivery or cleaning.
  4. Discounts: Subtract the discount (if applicable) based on the total before fees.

The formula:

\text{Total Cost} = (\text{Rental Days} \times (\text{Daily Rate} + \text{Insurance Cost})) - \text{Discount} + \text{Additional Fees}

Example:

You need to rent a backhoe for 5 days. The rental company charges:

  • Daily Rental Rate: $150/day
  • Insurance Cost: $20/day
  • Additional Fees: $50 for delivery
  • Discount Rate: 10%

Calculation:

  1. Base cost: 5 \times (150 + 20) = 5 \times 170 = 850
  2. Discount: 850 \times 0.10 = 85
  3. Add additional fees: 850 - 85 + 50 = 815

Total Cost: $815