Interesting topic. I admit that I've bought more special tools than I probably needed to, given the number of times I've used them. But unless I've missed it, there is an additional factor in "doing the purchase vs. renting math" (or the calculus according to Rob). That is, what is the probability that one of your buddies will want to borrow the tool if you own it? Because, besides being the envy of your friend when he calls to see if you "have a digital-whangabanger-for-a-37MM-wheelhoffling" and you say "Sure do!", there is the possibility that you will be able to wrangle a cup of coffee or even a brewski outta him when you lend it to him. I've held desperate guys hostage to a whole 6-pack more than once while negotiating to lend out all kinds of tools that they don't have. 😃
@Swamibob obviously knows exactly what he's talking about. As I read his post, I could almost anticipate his nest words, because they were my thoughts, exactly (except for the Mopar reference, 'cause I've never helped a Mopar buddy 😁). Swamibob's story here is really an important brick in the building of the "automotive enthusiast's community". Helping, and being helped by, others and sharing our experience, skills, tools, knuckle blood, and friendship (and BBQ) - ah, if 'twere only true in so many other endeavors and slices of life!
Kudos to you, Swamibob - you truly "get it"! 👍