--- title: "Should you rent, borrow or buy tools and equipment?" description: "Should you rent, borrow or buy tools and equipment? How to decide based on how often you'll use them, with a worked example and ways to share costs." author: "Wealtie Team" published: 2026-11-12 updated: 2026-11-12 category: "Saving" canonical: https://wealtie.com/blog/rent-borrow-or-buy-tools --- # Should you rent, borrow or buy tools and equipment? Whether to rent, borrow or buy tools depends mostly on how often you'll use them. In a worked example, renting a carpet cleaner costs 30 a day against 200 to buy, so renting wins unless you'll use it more than six or seven times. ## Key takeaways - Whether to rent, borrow or buy tools depends mostly on how often you'll use them. - In a worked example, renting at 30 a day beats buying at 200 unless you'll use it more than six or seven times. - Borrowing from friends, neighbours or a tool library costs little or nothing. - Buy tools you'll use often, and look after them so they last. ## Should you rent, borrow or buy tools? Decide based on how often you'll use them. Many tools and pieces of equipment, like pressure washers, carpet cleaners, ladders, hedge trimmers and drills, are needed only a few times a year, or once for a project. Buying them means paying the full price and finding space to store them. Renting or borrowing can cost far less. For tools you use often, buying usually makes sense. Thinking about this before each project stops a garage or cupboard filling with expensive things used once. ## How do you compare the cost? Work out how many uses it takes for buying to beat renting. Here's a worked example for a carpet cleaner, in round numbers that work in any currency: | Option | Cost | | --- | --- | | Rent once | 30 | | Rent four times | 120 | | Buy | 200 | ![Carpet cleaner: rent or buy. Rent once: 30, Rent 4 times: 120, Buy: 200.](https://us-1-s3.polodev.net/wealtie-blog-media/posts/2026/11/carpet-cleaner-rent-or-buy-rent-once-30-rent-4-times-120-4ecbd24f72.webp "Source: Worked example in round numbers") Dividing the purchase price by the rental price gives the break-even point: 200 divided by 30 is about seven uses. If you'll use it fewer times than that over the years you'd own it, renting is cheaper. If you'll use it more, buying wins. [Cost per use](https://wealtie.com/blog/cost-per-use) explains this way of comparing. ### Count the hidden costs of owning Owning a tool means storing it, maintaining it and sometimes replacing parts. A tool that takes up space in a small home has a cost even if you don't pay for it directly. Renting means someone else handles the upkeep, and rental equipment is often more powerful than the versions sold for home use. ## When does borrowing make sense? For one-off jobs, borrowing is often best. Friends, family and neighbours may have exactly what you need and be happy to lend it, especially if you offer to return the favour. In some areas, tool libraries and community sharing schemes let members borrow equipment for a small fee or for free. Local online groups are another good place to ask. Return borrowed tools clean, on time and in the condition you received them, and replace anything you break. Keeping a list of what neighbours and friends own, and what you can lend in return, makes it easy to ask. ## When should you rent? Rent when you need something more than once but not often, or when the equipment is expensive, specialist or large. Hire shops offer daily and weekend rates, and some rent by the hour. Check whether the price includes delivery, safety gear and consumables like blades or cleaning fluid, and plan the job so you use the rental time well. Ask for a quick demonstration when you collect the tool, so you use it safely and don't damage it. ### Plan the job first Have everything ready before you collect the tool, so you don't pay for an extra day while you prepare. Group jobs together, like cleaning all the carpets in one weekend, to get the most from a single rental. ## When is buying the best choice? Buy tools you'll use regularly, like a basic drill, screwdrivers, a hammer and a tape measure for most homes, or a lawnmower if you have a garden. For these, owning saves time and money. Choosing decent quality pays off, since cheap tools often break or do the job badly. Buying second-hand can get you good tools for less, since tools are often sold when people move or finish a project. ### Starting a basic toolkit A small set of good basics covers most household jobs. Add tools one at a time as real jobs come up, rather than buying a large kit full of pieces you'll never use. [How to buy second-hand](https://wealtie.com/blog/buy-second-hand) has tips. ## Can you share the cost of buying? Yes. Some neighbours or family members buy larger items together, like a lawnmower or a pressure washer, and agree how to share them. This works best with clear agreements about storage, maintenance and who pays for repairs. [How to save money on gardening](https://wealtie.com/blog/save-money-on-gardening) has more ideas for sharing garden equipment. ## How do you plan for tools and equipment? Think about the jobs you'll need to do over the year, and which tools each one needs. Set aside a small amount for rentals and repairs as part of your home budget. [The home maintenance budget](https://wealtie.com/blog/home-maintenance-budget) covers saving for upkeep around the home. ## How do you track tool costs in Wealtie? Log tool rentals, purchases and repairs in a home improvement line in your [expense categories](https://wealtie.com/features/categories), so you can see what you spend over a year. Comparing rentals with what a tool would cost to buy helps you decide when it's time to own one. A monthly limit in the [budget tracker](https://wealtie.com/features/budgets) keeps project spending in line. ## Questions people ask ### Should I rent or buy tools? Rent if you'll use the tool fewer times than the purchase price divided by the rental price. In a worked example, about seven uses. ### Where can I borrow tools? From friends, family and neighbours, local online groups, and tool libraries or sharing schemes where available. ### Which tools should I buy? Ones you'll use often, like a drill, screwdrivers, a hammer and a tape measure, or a lawnmower if you have a garden. ### How do I get the most from a tool rental? Prepare the job first, group tasks together and check what the rental price includes. *This article is general information, not financial, tax or legal advice. Your situation is your own; check the numbers that apply to you before you act on them.*