MoneyMagpie

Apr 26

How to save money with home depot rental services

Building houses from scratch, renovating the interior and exteriors and even smaller tasks such as modifying or upgrading the plumbing system require, in most cases, highly complex tools and pieces of equipment that you will not normally find at your standard corner hardware store. If you are in this situation (as most of us will at some point during our lives), your first instinct might be to run to the first store and buy them.

Unfortunately, this will cost you more money on the long term than you would expect. Apart from the purchasing costs, there are many other factors that might spread your finances thin, like maintenance and storage. Moreover, unless you build houses for a living, there is a high chance you will not use those tools more than once. Therefore, renting the tools for the duration of your project instead of outright buying them is the more sensible option. Luckily, Home Depot provides clients with a very effective and transparent renting service, that is both affordable in terms of costs and lenient from a policy perspective. Here is how to save money with home depot rental services.

 

Why Should You Rent The Tools Instead Of Buying Them

From a practical and financial perspective, it is impossible to own all the tools in the world. Sure, having a basic set of tools at hand’s reach (screwdriver, hammer, flashlight, nail set, and so on and so forth) is logical, but there is a low chance you will be using a shredder, a jackhammer or a chainsaw on a regular basis after the completion of the project.

Furthermore, the home depot equipment rental prices are reasonably low considering the wide variety of specific and obscure tools on offer. This fact alone opens the floodgate in terms of money saving opportunities – by renting instead of buying the tools, you could use that money to buy better materials, hire some extra hands to help you on your project, buy better furniture, upgrade a certain house feature that you have not considered before, and so on and so forth.

 

Consider the Logistics

Renting costs – and issue which we will further elaborate in the next entry – can be influenced by a variety of factors. In order to find the best rapport between and price quality, you should check the store frequently and look for old and used tools because, obviously, a slightly older model will be rented at a slightly lower price than a top of the line, brand new unit.

Another thing to consider is transportation. If the Home Depot store is nearby and the tools are small, you can easily bring them all to the work site either by foot or within a single drive. But if, for example, you are building a house from scratch, you will need large-scale equipment pieces that you will not be able to transport with your personal car.

Therefore, if you find yourself in this conundrum, the best option is to hire a delivery service that will pick up and drop the tools according to your needs. The cost of delivery will slightly burden the final costs of the project but is better to do this than transport the tools yourself and risk damaging your car.

 

Familiarize Yourself with Home Depot Price Coding

If you are planning to rent instead of buying, you might think this information is redundant, but it is relevant for a number of reasons. While the renting prices for tools varies and is highly dependent on their size, complexity and the duration of the contract, there are several other factors to take into consideration, mainly their price tag code:

  • If the items have yellow tags attached to them, the store has classified them as clearances.
  • If the prices end in .06 – for example, $40.06, $3.06, etc. -, it means that the items have been through a previous round of markdowns. Moreover, the .06 price tag also means that the cost of the items will change in six weeks from the day the tag was attached to the item. If you want to find out the exact dates, you can easily do this by checking the bottom of the price tag.
  • If the items with the .06 tags do not sell in six weeks, the prices of the products will drop and have a .03 tag attached. If the items do not sell within three weeks, the stores take them off the shelves.

Now, you might be wondering how is this information relevant to the whole renting process. Home Depot is famous for offering a wide variety of equipment pieces which are both commonplace, and extremely obscure and specific. Usually, the tools from the latter category do not sell very well for various reasons and go through frequent markdowns, often reaching the .03 price tag. Therefore, you could save a lot of money by checking which tools reach that price tag and rent them at a significantly lower price than tools which have standard price tags.

 

Rent Tools for Short Timeframes

Another way to save money at Home Depot is by renting tools for short time spans. Usually, most people will rent tools in bulk to avoid any hassle, but there is no use in borrowing a chainsaw for 24 hours or more when the task can be completed in a couple of hours. Fortunately for everybody involved, the store caters to these short rentals by allowing clients to borrow equipment for as little as four hours. So, if you have your act together, you can rent the tool, finish whatever you are doing, return it before the contract expires and used the money that you saved by doing this on more important issues.

 

Conclusion

Out of all the hardware chain stores on the market, Home Depot has one of the best and most affordable renting services. Unless you own a construction business or build houses for a living, renting the tools instead of outright buying them is a wiser decision both from a practical, and long term financial perspective.

Renting the tools is a good way to spare household expenses. To get the best bargain for your money at Home Depot, make sure to consider the logistics (costs of transportation, duration of the project, etc.), learn to decipher the price tags or rent tools for short timeframes.

 

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