Rent Or Buy? - Tools & Equipment - Contractor Talk
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Rent Or Buy?

 
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Old 01-12-2013, 12:22 AM   #1
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Rent Or Buy?


You guys rent or buy tools & equipment when needed?

I always bought, figured if I needed it once I'd need it again...

Quite a barn full....

Wife wants to know why I need all this chit now....

Always had to have two of most things...
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Old 01-12-2013, 12:27 AM   #2
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Re: Rent Or Buy?


Quote:
Originally Posted by griz View Post
You guys rent or buy tools & equipment when needed?

I always bought, figured if I needed it once I'd need it again...

Quite a barn full....

Wife wants to know why I need all this chit now....

Always had to have two of most things...
Usually buy, but I had to rent some scaffolding today, 95 bucks for 4 sections. I hate giving my money away every time I need something. Maybe I should rent out the stuff I don't use that often, then I could buy more tools.

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Old 01-12-2013, 12:29 AM   #3
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Re: Rent Or Buy?


I'm so in shock you can ask questions.....


I'm young so TIFWIW, but I buy everything I need, want, think ill need, and then some.

But I had been an avid renter... In all aspects it just sucks.

Unless I need some heavy machinery I buy it
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Old 01-12-2013, 12:30 AM   #4
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Re: Rent Or Buy?


one can never have enough tools or equipment
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Old 01-12-2013, 12:37 AM   #5
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Re: Rent Or Buy?


Buy it all. Give it to me.
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Old 01-12-2013, 12:38 AM   #6
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Re: Rent Or Buy?


Quote:
Originally Posted by kambrooks View Post
...I'm so in shock you can ask questions.....

Oh heck yes I can ask questions....

The Gym RFI log will prove that.....
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Old 01-12-2013, 12:41 AM   #7
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Re: Rent Or Buy?


I hate to borrow equipment or tools. If something like heavy equipment that am not going to use alot rent , other wise buy all I need.
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Old 01-12-2013, 12:43 AM   #8
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Re: Rent Or Buy?


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I hate to borrow equipment or tools. If something like heavy equipment that am not going to use alot rent , other wise buy all I need.
Borrowing sucks.

I HAD a backhoe, a loader & a skid steer....

Central purchasing balked when I tried to put a second backhoe into inventory.... :
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Old 01-12-2013, 12:53 AM   #9
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Re: Rent Or Buy?


We usually rent, and then never take it back.I can think of a track hoe, scissor lift, man lift, sheepsfoot packer of the top of my head.
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Old 01-12-2013, 12:58 AM   #10
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Re: Rent Or Buy?


If I have the funds I buy, if I have the funds but they are better spent elsewhere I rent, if I don't have the funds they are figured into the bid for a rental.

If it is something that I don't use very often less than once a year or so I usually rent. If it is a storage hassle I rent. If I am on the fence about one brand over the other and I can rent each I will do that to get a better idea of which one I might prefer.

So in short I buy if at all possible cuz I hate not having the tools I need when I need them.
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Old 01-12-2013, 02:50 AM   #11
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Re: Rent Or Buy?


I buy, I look at it if it makes my life easier then I buy. Even if it takes years to pay for itself. It sucks having to rush equipment to keep from paying rent. It's nice to drop it on a job and not worry about it.
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Old 01-12-2013, 05:14 AM   #12
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Re: Rent Or Buy?


About the only thing I rent is scaffold. I just factor it into the job.
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Old 01-12-2013, 06:33 AM   #13
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Re: Rent Or Buy?


I have a friend is so afraid of scaffolding, he rents it all the time all set up for him. They bring it to the job and erect it and when he's done, they come and take it all away.
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Old 01-12-2013, 07:58 AM   #14
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Re: Rent Or Buy?


We only rent big items. If its under $500 bucks, there is a good chance it will get used again. Things between $500 and $2000 are likely on a wish list and if the job comes up I would need it for, it gets purchased. The last tool I rented was a post hole auger for our bobcat. Also we had to rent scaffolding to add to ours....once in the last 12 years we needed 2 bucks more.
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Old 01-12-2013, 08:08 AM   #15
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Re: Rent Or Buy?


Quote:
Originally Posted by griz View Post
Oh heck yes I can ask questions....

The Gym RFI log will prove that.....
I had to read that few times. I think k he meant that the forum had the ability to do polls and questions
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Old 01-12-2013, 03:03 PM   #16
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Re: Rent Or Buy?


Quote:
Originally Posted by madmax718

I had to read that few times. I think k he meant that the forum had the ability to do polls and questions
I think he meant that the gym he's building had a gazillion request for information sent to the project manager/engineers/architects/owners or whom ever is the shot callers for the project
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Old 01-12-2013, 03:30 PM   #17
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Re: Rent Or Buy?


Quote:
Originally Posted by griz View Post
Oh heck yes I can ask questions....

The Gym RFI log will prove that.....


My old boss told an archy once in a plan review that he ran two Bic pens out of ink red lining his plans
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Old 01-12-2013, 03:32 PM   #18
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Re: Rent Or Buy?


Buy everything but equipment ( skid steer and up).
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Old 01-29-2013, 02:59 AM   #19
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Re: Rent Or Buy?


My take on renting vs buying is like this, and keep in mind this is for residential construction and small commercial projects. When i think of renting a tool for the minimum $50 rental fee per day or whatever it is, it doesnt make sense to rent something for that price when you can buy the tool for $250-$300, unless you absolutely cant afford it. Chances are, you are going to need it again, so just buy the tool.

Tools in the $500-$1000 range are in a grey area to me, but there are a lot of tools out there in this price range that will be used a lot from project to project and through different phases of the project, meaning that you many need to rent it longer than a day, or a week. A tool here that comes to mind is a good wet tile saw or a hand held concrete saw. They are expensive, but will be used often enough to justify it. Tools above $1000 is when a guy needs to look at weighing the costs of renting with how often it will be used versus how much the tool costs and how much it costs to keep up and maintain.

Take a power trowel as an example. To buy a new one, its gonna cost roughly $2500. To rent one is gonna cost $120-$150 a day, with some having even hourly and half day rentals. Now unless your going to use it daily or 30+ times per year, it would be hard to justify buying a new one after you consider maintanence costs, upkeep and replacing the blades. To add a $150 for a rental line item probably wont eliminate you from getting the job. At the end of the day, your only responsible for making sure it is cleaned, didnt damage it and get it back on time. You never have to worry about wearing it out. In this case, it makes sense for me who will only use one 10 times a year, give or take.

I see a lot of guys renting scaffolding. Scaffolding is a huge cost expense and can sometimes require a lot of sections to span an area and get high enough to reach the work area. I think this is a tool that should initially be rented, but slowly acquired over time. If a guy were to pick up a section here and there, it wouldnt take long to have enough sections for a typical job. I look at scaffolding as a tool that is always going to be needed. There is little to no maintanence and as long as it isnt abused, it should last you throughout your career, which cant be said with the majority of tools and equipment.

When i look at the bigger and real expensive equipment, for me it makes sense to buy a skid loader and a telehandler than to rent one. This most likely isnt possible when starting out do to funds and capital, but they are constantly being used, but maybe only a total of a few minutes to a couple hours per day so the convenience, but practical factor makes it justifiable to own one for the fact that you would lose your profits by paying the rental fees for a skid loader to sit on site not in use, or used very little. I dont need to go into detail on the different daily activities that we use skid steers and telehandlers for on a jobsite, but you get my point. For items like a backhoe or a payloader, there would be no justification for me to own one, unless i started getting into excavation and utility work, which i dont intend on. For me it only makes sense to either rent a hoe to dig a basement or to subcontract it out.

This is just my perspective and others might have a different and better perspective on how they manage how they buy or rent their equipment and tools. I know i can always improve how i manage my tool and equipment purchases.
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Old 01-29-2013, 05:39 AM   #20
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Re: Rent Or Buy?


If I figure I am going to need it more then 3 times I buy it, factor everything into the job

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