Hire vs Buy

[Teemore]

Have my 705 to play around with and to get the general knack of using a detector in the field (or beach) but still harbouring the intention to go all the way with a 5000 during next year.

Was considering the transition and started looking at the economics of buy vs rent.

Based on an assumed price of around $6000 and just the first rental rates I could find it bears some consideration.

Rates were $75 per day ..... allows 80 individual days hire before your $6000 is gone.
Rate of $120 for 2 day hire ..... give you 50 weekends (120 days) to have a play before your $6000 is gone
Rate of $300 for weekly hire .... gives you 20 weeks (140 days) before the $6000 is done and dusted.

If hiring you have nothing at the end, if you buy you still at least have the resale value.
If hiring there's always the chance of finding a little to help support a future purchase and who knows there might be a new super machine just around the corner, suppose there's also the option of hiring a Minelab and Garrett to make your own comprehensive comparison.

Obviously hiring is the way to go if you're unsure of how you will like it.
Hust some food for thought,
Cheers Tom

 

[condor22]

Some food for thought, Teemore.
I spent $2000 setting up a Eureka Gold at the begining of the year. I went prospecting for a month and got nothing but rust. So, I have spent the money on a 5000, 2 weeks ago and spent 4 days playing with it in the goldfields. So, at least I can't blame the equipment. I could get lucky when I go out next year a month at a time, but....

I reckon it's going to take me several weeks using it just to get used to it. I had a mate over there with a GPX 3500 in the goldfields who prospected for 6 months of the year for several years, his comment was it can take 2-3 months to learn how to use the detector properly. So, hiring to become proficient may well be expensive.

I guess it all depends on how you look at it, how quickly you pick things up and especially how lucky. Lol