Tools: Should You Buy or Rent?

I have been called a tool freak, on more than one occasion. Anytime I walk into a hardware store, like Home Depot, my wife cringes at the thought of what I might buy next. When I see a new tool I don’t have, I want it, and realistically I don’t need it. There are tools in my garage that I have never used. It pays to look at alternative options and renting would seem to be the most logical solution to my over consumption.

Next time you pick up a cool new tool at the hardware store ask yourself, when will I use this tool? Will I need it with-in the next 6 months? If the answer is no then you may want to consider renting one instead. Renting has many cost saving advantages. You only pay for the tool when you need it at a fraction of the retail price. You don’t have to worry about storing the tool afterwards, which frees up space in your garage or basement. You don’t have to worry about protecting it with added warranties or insurance. In essence what renting provides you, along with cost savings, is peace of mind. When you are finished with the tool you rented, you actually pass all those worries back to the rental store, leaving your garage and life as uncluttered as possible.

The Home Depot actually has an amazing policy where you can rent most of the tools they sell. Later, if you decide to purchase that same tool they will deduct your cost to rent from the purchase price. This allows you to try the tool before you buy. How many times have we all purchased a tool that wasn’t even the right tool for the job? What do you do? You can’t return most tools after opening the package. So maybe you use a tool that isn’t quite right. Maybe the job you are doing doesn’t turn out quite right as a result. Remember that spice rack Homer Simpson built for Marge with a chain saw? Yeah, enough said.

I now know the chances of coming out ahead with renting is far greater than that of needlessly purchasing tools I will use only once or even a few times. Rentcharlie.com makes finding a rental store, in your area, with all the tools you could possibly need to rent fast and easy. So, before making another major tool purchase ask yourself how often you will use this tool and consider the option of renting.