What should you buy new and what should you buy used?  If it is a non-mechanical “commodity” it should be bought used. 

Let’s consider part of my tool shopping list: a wheel barrel and a chainsaw.  I plan on buying the wheel barrel at a tag sale (I recently paid $2 for a used pitchfork at a tag sale—I saw one for $15 at the store.)—I won’t spend anything near the $50-80 at the local home center for a new wheel barrel.  As long as it isn’t too beat up functionally, who cares if it isn’t shiny and new—all I am going to do to it is move wood, dirt, and who knows what in it.  A chainsaw on the other hand, is a complex mechanical item that if not properly cared for by its previous owner it could present problems for me—I would rather buy a new one that has gone on sale or discount. 

One exception to this approach on mechanical devices is automobiles—I don’t believe in paying for depreciation, but do have a knowledgeable mechanic check it out first if it isn’t warranted by a dealer.  The good news is that quality used tools are almost always found at tag sales.