Best Magnetic Drills Under $500

A budget 1 5/8 in mag drill for bolt holes and brackets, with the same limits as the other VEVOR machines.

Fine for holes up to about 1 5/8 in. For $40 less the VEVOR 8850E cuts 2 in.

A starter kit for bolt-size holes in structural steel. The 2 in VEVORs cost less and cut larger.

The entry price for a magnetic drill, for light fabrication where a 1 1/2 in hole is the biggest you cut.

A compact VEVOR for beam flanges and tight spots. Buy it for the low profile, not the price.

The lightest 2 in budget mag drill here, with reverse. Sold in cutter-kit bundles at higher prices.

A cheap 2 in mag drill with a large motor rating, but without a published magnet figure it is a gamble on thin steel.

A cheap 2 in mag drill for occasional shop and farm steel work. A name-brand machine is the pick if it will run all day on a jobsite.

For a shop that needs 2 1/4 in plus holes and tapping without a pro-grade price. Plan on a lift or a second person for overhead work.

A good-value light 2 in mag drill for home and farm fabrication. Treat the magnet rating as the maker’s claim.

The cheapest way to get a 2 in magnetic drill, for a buyer who will carry it only a few times a year.

A 2 in VEVOR that comes with cutters. Buy the 8850E and a separate cutter set if you want to save money.

A reversing 2 in mag drill from a small seller. The VEVOR 8850E is the same size for $95 less.

For steel where holding force matters more than weight, such as vertical or overhead work you can mount with a strap.

The VEVOR to choose for tapping and curved pipe, since a strap holds it on 3 to 12 in pipe. For flat plate the cheaper models do the same job.