6 Ways To Save Money When You Buy Tools
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Stocking your home workshop with a full set of tools can be an expensive endeavor, especially if you pay full price. Luckily, there are money-saving strategies for building your arsenal that won’t put a huge dent in your wallet. From combo kits to seasonal sales to one-day online deals and even used tools, there are a variety of strategies for growing your tool collection without emptying your savings. Here are five ways to save money when you buy tools.
Buy Combo Kits
If you need to stock up your toolbox or replace a number of older pieces, those package deals that let you buy several tools at once really do pack in the savings. You might spend up to 30 percent less than if you bought each tool individually.
For example, you can buy a Dewalt 20-volt MAX 6-tool brushless power tool combo kit that includes a hammer drill, impact driver, circular saw, reciprocating saw, oscillating tool, and flashlight with two batteries and a charger for $559 (or less, if it happens to be on sale) from Lowe’s. You’d pay more than $800 for the same tools by purchasing them individually. And you get a storage bag to boot.
There is a catch. Combo tool kits often include one or two items that you don't want or need, like a cheap work light or a specialty tool like an angle grinder. To get the best bang for your buck, shop around for a kit that includes those tools you’re most likely to use.
Stick With a Brand
What goes for gadgets goes for tools, too: Once you're in a manufacturer's ecosystem, it's easier and cheaper to stay there than to have multiple products by multiple makers. This is especially true in the cordless tool age. You save money by buying only a single battery and charger and loading that battery into whichever tool you're using.
Most major tool brands, including Milwaukee, Dewalt, Ryobi, Makita, and Craftsman, have batteries that can be used across their entire cordless product line as long as the tools use the same voltage. Dewalt even has its Flex Volt system, which allows you to use one battery for both its 20-volt and 60-volt cordless power tools.
Once you buy in to a platform, you can buy "bare" tools without the battery and charger included. Given that the battery and charger often cost as much as the tool itself, this can save you a lot of money.
If you're like most people and amass your power tools over time, you’ll want a brand that has what’s called backwards compatibility. This means the company will support older generations of tools by making them compatible with new product lines. Milwaukee and Bosch, for example, use batteries that fit into both their older and newer cordless tools. Dewalt even offers an inexpensive adapter that allows its customers to use older generation tools that use NiCad rechargeable batteries with its newer family of lithium ion rechargeable batteries.
Shop at the Right Time of Year
Tool retailers look for every opportunity to put their tools on sale and not just on Christmas and Father’s Day. Black Friday, Cyber Monday, Labor Day and even President’s Day are all opportunities to save big on tools at such retailers as Lowe’s, The Home Depot, Amazon, and Acme Tools. Amazon even has a tool sale to celebrate the arrival of spring.
It’s not uncommon to save 40% or more on power tools, hand tools, batteries, and various tool accessories during these sales events. If you don’t need a tool right away, wait around until one of these sales rolls around to save money.
Be Honest With Yourself About What You Need
We all know somebody whose garage is filled with top-of-the-line tools in pristine condition—because they're rarely used. Here at PM, we love pro-grade tools. But for weekend warriors and DIYers, it doesn't make sense to pay extra for tools designed to handle the demands of a professional worksite.
Brands such as Ryobi, Ridgid, Klein, and Craftsman offer budget priced tools that can handle most projects around the house. If you’re wedded to premium brands such as Dewalt, Milwaukee, and Makita, don’t fret. Even these brands offer more affordable versions of their pro-grade tools that are more than adequate for your next DIY project.
Check Online For Special One-Day Deals
If you’re limiting your tool search to brick-and-mortar stores, then you might be missing out. Retailers such as Lowe’s and Home Depot offer unique promotions that you won’t find in their locations simply because they can't fit everything in a store. And many times, the shipping is free.
Home Depot, for example, offers the Special Buy of the Day, which is a one-day online sale on a wide variety of items at the home improvement giant, including tools. Lowe’s offers similar online-only promotions with its Deals of the Day. Brick-and-mortar retailers aren’t the only ones offering these very limited-time offers. For example, online tool retailer Acme Tools regularly offers Flash Sales on its website.
The savings you can get with these one-day online-only sales is no joke. Markdowns are often as much as 60% off and include top-notch brands like Milwaukee, Gearwrench, and Dewalt.
Shop Refurbished or Box Opened
One way to save on tools is to go used rather than new. Many retailers sell refurbished products that have been restored by the manufacturer to like new condition. You can often get factory-reconditioned tools for well under the price of a new model. While this may not be the best idea for a tool that might see frequent use, like a cordless drill, buying refurbished makes good financial sense for a tool you need in your workshop but may use infrequently. Many reputable retailers sell reconditioned tools, including Amazon, Acme Tools, Walmart, and Target.
You can also find good deals on open-box tools that have never been used at bargain prices through such outlets as eBay.
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