Camcorder hire- yes or no?

We was originally getting married October last year but now getting married this October. We had a videographer booked but he no longer can do our date. We now can't afford another one due to losing so much money because of postponements. I have been looking at hiring a camcorder and filming the day that way as its alot cheaper. The one thing I wanted more than anything was a film of the day. Has anyone else done this or is it a waste of money?