Rent vs buy

[TheMan419]

I need to plant some 6 inch round wood posts. Some now and some in the spring. No I cannot do them all at the same time.

Renting a powered auger cost is around $70 for the day. Cost of buying is around $350 when you get all in with the bit needed etc. assuming harbor freight purchase.

Where does one draw the line of rent Vs buy? I am approaching half the cost in just two rentals.

Pretty sure I would NOT sell the tool after my projects are done. I tend to hold on to things.

 

[3Ts]

If you buy, where are you going to store it? I use the criteria that if I'm around 75% of the cost of rental, I'll buy it - because:
- I'll have it for other projects I don't know about
- I'll be more likely to use it for small short duration tasks I'd do by hand instead of renting
- I'll avoid the trip to pick it up and return it. (about 1 hr each way for me)
- It'll be better maintained than the rental unit (in my experience)
- Less hassle than renting.

 

[RPW]

I prefer to buy because of the hassle to drive 30 miles to get to the nearest rental place. I rent only if it's a one of project.

 

[atsah]

I like doing things with no time constraints, other than renting a dozer or excavator or maybe a skid steer I buy it..

 

[CobyRupert]

When you pay $70 to rent (on their schedule, convenience , under the clock, etc..) you get your holes and that $70 is gone.

When you pay $350 you get your holes dug, it's not like that $350 is gone, you still have that $350, it's just in the form of an auger (instead of ink on a bank statement, or 0's an 1's on the bank's computer).

Or said another way, even if you resell it for $300 you've still saved $20. Or if you use it for two days and sell it for $300, saved $90, etc...

 

[Big Barn]

It would depend on the quality of your $350 HF auger.

 

[Shaneard]

I'd keep an eye on craigslist for a used one and save some money.

 

[bigtiller]

I might rent a hydraulic and self propelled one like this. If one wasn't available, I'd buy the $350 one you're talking about.

 

[ustmd]

For the type of project the OP is talking about (on again/off again), I would buy simply for the convenience.

That being said, after my last project with fence posts, I will never use a 1 man or 2 man hand held power auger again. They are just too dangerous for my comfort level.

 

[Diggin It]

That being said, after my last project with fence posts, I will never use a 1 man or 2 man hand held power auger again. They are just too dangerous for my comfort level.

Finally, we get there. I don't understand how people use these at all without breaking wrists, ribs, hips, backs, collarbones and so on.