Here's how you can rent an Apple Watch for $55 instead of buy it for $1,000

If you're intrigued by the Apple Watch but aren't ready to shell out the cash just yet, gadget rental company Lumoid may have a solution for you.

Lumoid is known for its "Wearables Box" program, which involves shipping customers a box of five fitness trackers that they can try for a week. It costs $25 to have the box shipped to you.

Now Lumoid is offering the chance to include the Apple Watch in that seven-day trail.

"We'll do all of the hard work of getting the watches," Lumoid founder and CEO Aarthi Ramamurthy said to Business Insider. "We'll have an army of people to camp out and buy them."

You can sign up to rent the Apple Watch on Lumoid's web site, though Ramamurthy says they currently have a waitlist numbering in the thousands. She says wait time will depend on how many watches they're able to purchase.

It'll cost only $45 to include an Apple Watch Sport in the wearables box, $25 of which will go towards purchase, if you do decide to buy it. The Apple Watch Sport costs $349 for the 38MM model and $399 for the 42MM model.

If you want to try the steel Apple Watch, it'll cost $55, with $30 of that going towards purchase. The steel edition of the Apple Watch costs between $549 and $1,049 for the 38MM model, depending on the band, and between $599 and $1,099 for the 42MM model.

Like with the standard wearables box trial, you ship the Apple Watch back at the end of the weeklong trial.