Random pic from google.
Own a Hakko 96 like above photo, bought it many years ago, an used one for at quite cheap price, if I'm not mistaken about < $15.
As N2ixk said, not much for normal daily use if you're not tinning lots of wires, but when you're on project that needs lots of wiring/jumper wires inside the case for example, then it will be very handy, especially like ribbon type wires, as manualy soldering those wires one by one will not be as tidy as dipping the whole wires in the molten solder.
Also its a good tool to coat the solder thinly and evenly at any pins, say like thru hole component's pins, and it serves as a quick & lazy tool to salvage components from relatively small board.
It does take time to heat up, about 15 mins & will take longer to cool it down back to the temp that is safe to touch.