Equipment Rental: Day Rate vs Week Rate

Excel Formulas › Equipment Rental

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Every rental counter has the same conversation: at some point the daily rate crosses the weekly rate and the customer should just take the week. MIN makes the register do that math for you, every time.

Quick formula: Quote the lower of the two prices:

=MIN(B2*C2,D2)

Five days of a skid steer at $95 is $475 — but the week is $320, so the customer pays $320 and keeps the machine two extra days.

Functions used (tap for the full reference guide):

MIN

The example

Three machines out on rent, each with a day rate and a week rate.

	A	B	C	D	E
1	Equipment	Days	Day rate	Week rate	Charge
2	Skid steer	5	95	320	$320.00
3	Plate compactor	2	60	210	$120.00
4	Scissor lift	6	140	700	$700.00

The formula

MIN picks the cheaper of the two ways to price the same rental:

=MIN(B2*C2,D2) // days at the day rate, capped by the week rate

How it works

Two prices, one winner:

B2*C2 prices the rental the long way — five days at $95 is $475.
D2 is the flat weekly rate for the same machine.
MIN(...) returns the smaller number, so the customer never pays more than a week costs.

The crossover is week rate divided by day rate: $320 over $95 is 3.4, so from day four onward the week is the better deal.

Try it: interactive demo

Interactive

Enter the rental length and both rates.

Days out

Day rate ($)

Week rate ($)

Variations

Multi-week rentals

Charge whole weeks plus leftover days, still capped week by week.

=QUOTIENT(B2,7)*D2+MIN(MOD(B2,7)*C2,D2)

Show the crossover day

Print the day count where the week becomes cheaper so counter staff can quote it aloud.

=ROUNDUP(D2/C2,0)

Pitfalls & errors

Rental days are usually 24-hour periods, not calendar days. A machine picked up Monday at 3pm and returned Wednesday at 4pm is three days, not two.

Delivery, fuel, and damage waiver should sit outside the MIN. Rolling them in lets the weekly cap swallow charges that are not rental time.

Practice workbook

📊

Download the free Equipment Rental: Day Rate vs Week Rate practice workbook

Edit the yellow day and rate cells; the charge recalculates.

Frequently asked questions

Do I have to tell the customer the week is cheaper?

Most reputable yards do, and the formula makes it automatic. It also removes the awkward call when a customer notices afterward.

What about a four-hour or half-day rate?

Add it as a third argument: =MIN(Half,Days*Day,Week). MIN happily compares as many prices as you give it.

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Function references: MIN