Should I buy that tool?

I see a form of this question almost every day on the various forums I frequent. It's a simple question and there are a number of variants. But the answer is complex and highly dependent on you, your skill level, what you want to make in your shop and, in no small part, your budget.

Too often, I see someone posting about wanting to get some shiny new cool tool. Lots of people post about their desire for it and glowing testimonials about how great it is. It's easy to get swept up in the entusiasum. But, is there really a need? When thinking through a purchase, I have 3 questions I ask myself:

1) Do I need this machine to do something I can't otherwise do well, quickly or easily?

2) Does this machine help me improve my skill or quality level?

3) Will I use this machine enough to justify my investment?

If I can't answer at least one of those questions with a strong YES! then I know to stop looking.

A real danger in buying a new tool is that you are making assumptions about how you will use it and how much it will help. Too often, I have based a purchase on what made sense at the time but came to realize that it just didn't work for me. A good example is a tenoning jig I bought. I was starting to get serious about building furniture and thought the jig would help me make better tenons. After using it a couple of times I found that the set up time was more than I thought, it was more complex to use and, frankly, found that I could do a better quality job in less time with a simple method on the table saw. The jig sits gathering dust. In hind sight, I should have investigated different techniques for cutting tenons in more depth before buying the jig. Fortunately, it was used so I didn't spend much on it but fiddling with it did waste a lot of time.

This leads to a secondary question: buy used or new? Sometimes, used isn't an option but for a lot of woodworking tools, it's a real possibility. The internet has lead to a number of ways to find used tools. Personally, I like Craig's List. I think we all love to unpack that brand new tool. No one has had a chance to mess it up and if it's broken, you can get it fixed or replaced by the manufacturer or seller. However, you pay for that. In many cases, tools last for a long time and are relatively easy to repair. Typically, a used tool goes for about 1/2 the price of new though there is a fair amout of leeway there. Some tools, like Festool, retain their price better than others. And there are stories of the widow who let the new-in-box DeWalt 735 planer go for $250. So, you can certainly save money. But equally important, if you decide to resell the tool, you are likely to get very close to what you paid for it. This assumes you don't pay way too much. It sometimes takes patience to find a used tool but the rewards are there.

There are concerns with buying used so you need to do some homework. A good search on the internet should reveal issues people are having. I'd also get the manual and become familiar with it before actually looking. And, of course, a good inspection looking for damage or abuse is always called for. Of course, there is no substitute for actually testing the tool. I've bought used where the seller had no way to test but used that as a lever to reduce the price.

Another trap is the "buy the ultimate tool" trap. You've got your hard earned cash earmarked for a great new tool so you want to get the one that will last you for ever. Unless you have experience with that kind of tool, you won't really know what is right for you until you've actually spent some time using it. Pretty much a catch 22. This is where buying used shines. You don't have to get the best with the most. The cost of buying the "wrong" used tool is your time but given that you learn a lot while using it, you are still ahead of the game. A good example is my band saw. I have a used 1.5 HP 14" band saw that works pretty well and I use frequently. I've learned a lot about band saws in the process and will probably upgrade to a more powerful one for resawing. I'm pretty sure I can get what I paid for it when I sell.

In the end, it's a personal decision but I hope that I've given you a way to frame your thinking and avoid a mistake.

Adendum - 2/22/2016 I read a quote that seems appropriate. "Fishing lures aren't made to catch fish, they are made to catch fishermen." Thanks to Cherryville Chuck on RouterForums.