When do you rent a tool vs buying it?

[icnsltmfg]

When do you typically decide to rent a tool vs go out and buy it. I am limited on room, and there are times that I am on the fence on whether to buy or rent. For example I need an engine hoist to help assemble my new 4 post lift. I am not sure when I may use it again. To rent one, is $30-40 a day, to buy one is $125 from Pep Boys. This one I may buy as the rental is close to 50% of the new price and I do not have to rush it back to the rental shop, and I could always sell it and still loose less than the rental cost.

What about for more expensive / less used tools? like a small scaffold unit for doing work around the house....they can be expensive to buy.

Adam

 

[shopnut]

I normally end up buying the item, mostly because I don't like to be rushed. But, I look for things that fold up and store easy. For instance, a lot of engine hoists fold into pretty small footprints. Most scaffolds break down for storage. However, I choose the quality level of item based on my intended usage. In other words, I will probably buy a H-F import and save some bucks if I only intend to use it a couple times a year. For things I use every week, such as a cordless drill, I will buy a high quality version.

BTW, once you have it, you will find all sorts of uses for that engine hoist. Same holds true for the scaffold - I bought the kind with casters and adjustable platform (baker rack style) for about $130 at the wholesale club and use it ALL the time in the house and in the shop. I found that I don't need to break down the scaffold because it simply "bridges" over the nose of one of the cars.

 

[PAToyota]

For me, I can't say that there are hard and fast rules. Some of the factors are size, cost, how often I'd use it, etc...

If the rental costs over the times I'd use it add up to more than the purchase cost of something that is usually a trigger. Especially if I have to figure in the time to go get it and then return it and all. Plus, with eBay there is the option of then selling it again when you really are finished with it. Looking back on it, I wish I had gone that route with the drywall sander. I've rented one maybe three times over the past couple years and the rental cost has been about what I've seen them going on eBay for. Plus, if I had it around I would have likely used if for a couple other smaller jobs instead of doing them by hand.

Size can be an issue. Infrequent use and large size and it can be easier to just rent it than have to store it all the time. Although, I do have a Bobcat that I had always planned on selling again when I was "finished" with it... I did buy a hardwood flooring nailer. I don't use it all that often, but it doesn't take up too much room in the tool drawer and I've used it for some side jobs that I would not have taken on if I hadn't had it.

Maintenance can be an issue. If I didn't use the Bobcat as frequently as I did, it could be easier to rent one. The one I have is older so that it was affordable, but that means that there is maintenance and repairs to be made...

The other consideration is friends and family with tools. I won't loan my tools out to just anyone. But there are people that I know that have about the same feelings about tools as I do. My father has a pressure washer, rototiller, and certain hand tools I'll likely never buy because I know that I can borrow his. Likewise, there are a list of my tools he borrows when he needs them. My next door neighbor and I are the same way. It definitely expands the "tool inventory" beyond what one person can own or store.

Does that help?

 

[cc_rider]

It's a tough call, but generally I err on the side of buying the tool. An engine hoist would be an easy call for me though. They're not that expensive to purchase, handy as all git-out, and not too difficult to sell. If you bought it for $125, used it a week, and sold it for $50, you'd still be ahead!

Usually renting is only worthwhile for big power tools. Like the gas-powered concrete saw I needed to 'refine' my garage door opening. Or the jackhammer I needed to dig some post holes (don't ask.) Those are both around $800 to purchase, and I'm not likely to need them again. And since they're pretty specialized and expensive, both would be hard to sell without taking a big loss.

c.

 

[mulepackin]

Same as everyone, I consider rental vs. purchase price, liklihood of future use for any reason, how much space it will take up, and if I use it again how urgent will the need be. By that I mean will I need it urgently when it can't easily be rented. I rented a tile saw for 3 days last spring for tiling our tubsurround on a bathroom remodel. Could have bought for about the same, but I probably won't need it again, and wouldn't want it sitting around.

 

[Herb]

I usually buy except for when my wife says RENT IT!!!

 

[maa139]

I agree with everything said above. I'll add a caution though...fwiw, don't go cheap on the cherry picker. I've heard stories of the boom bending in half and dropping an engine. This is an item that you definitely want to get high quality....

Matt

 

[thefairlaneman]

In this case I would buy the hoist and get one that has fold up legs for out of the way storage. I have used mine for things other than just pulling engines. Once I used it to pull up a deep rooted plant that need to be removed. With other tools that cost alot more renting is the way to go if you feel sure you will not need it again. Sometimes its easy to underestimate the time you will really need the rented tool and this will cost you.

 

[kyeakel]

You don't have a buddy nearby that'll loan you one? You could borrow mine, but I'm in NY.

Kipp

 

[JB22]

Harbor Freight you can get the foldup one for $150.

When I was looking at renting it was going to cost me more to rent it, than to just buy it, so I bought it and got it over with.

 

[Dave Carney]

Around here at least, rental is a rip, on almost everthing. Per day, it's roughly 30% of the cost of the tool. Buy buy buy...

 

[mulepackin]

Around here at least, rental is a rip, on almost everthing. Per day, it's roughly 30% of the cost of the tool. Buy buy buy...

I do agree with this. I have been on the fence about buying a lawn edger for awhile. I only do it once a year with a real edger, then go over it with the string trimmer thereafter. I have been renting an edger once a year, do mine, a few neighbors the inlaws. But it is about $30.00, each time, the blade is usually so worn down that even on the deepest setting it doesn't dig very deeply and I get p-------. I think I'll be buying one.

 

[TY2185]

ON sale now...Good price!
I say buy for this item.

 

[icnsltmfg]

Your the man! I will pick one up in the AM.