SNAP-ON, BLACK HOLE OF TOOL BUYING CREDIT

[@natedog51]

Word of advice to the young guys getting into the business: Buy the cheap tool, if it breaks then buy the expensive one to replace it. If it doesn't, keep using it.

[@xaphan8581]

Bro I just started like a month ago and my first time on the snap on truck I was like yeah fuck that. I’ve been buying icon which works great for me but I agree just buy what you can afford then upgrade when you can.

[@al-aminhussain8052]

​@@xaphan8581Thanks for the advice as I'm new to the trade it's tempting to fall for the interest free finance 💯💯💯

[@jwilkers1]

Setting yourself a tool budget, putting that amount in a envelope each pay period and buying as many tools online as you can is the best way to avoid this problem.

[@RustbeltMechanic]

Good call👍🏻

[@natedog51]

Or shopping around.

[@jb2._]

Good idea

[@PNW_Adventures1]

I feel like this is where I’ve landed

[@jesusramonvargasrivera6824]

At that high interest you’re better off shopping at harbor freight I hate techs that feel they’re too good for cheaper brands.

[@lesgobrandon]

Great Advice guys. Pay cash as you go and stay off the dang tool truck. Far better deals are everywhere now a days. Tool trucks do not sell magic tools, and what I mean by that is a tool truck tool will not do anything any other tool will not do. There are plenty of idiot parts changing techs out there with lots of tools, and zero troubleshooting ability.

[@victorbeal8036]

You dont make money with a toolbox. Buy a cheap one from harbor freight and load it with quality tools not the other way around

[@jmackinjersey1]

Exactly, there are way too many other tool chests out there that can hold your tools. But get a good cart though, since those tend to see a lot more abuse than a large box sitting against the wall. Not saying to get a $5k cart off of the trucks, just saying to get a cart that is a little better than a HF cart.

[@victorbeal8036]

@@jmackinjersey1 I used a harbor freight 5 drawer for a long time. I liked having a cheaper cart that way if it gets run into stuff I didnt care

[@jmackinjersey1]

@@victorbeal8036 , I understand. But what I'm saying is that a large box will typically sit still, even though full of tools, and be relatively gtg for a long time, even if it is a HF/CR/Husky/International box. But for the most part the carts see major movement and drawer action a lot, so stepping up a little bit can be beneficial in the future. I'm not saying that we need to step up all the way to the sexy brands either. But yeah, getting a lower priced box and having it get scratched or dented doesn't sting as much to some people as a $5-8k cart. I still like to keep all of my stuff nice, regardless of the price I pay, but maybe I'm strange.

[@VB-bk1lh]

As someone who's been through all this and now retired, there will be shops that require you have a name brand box inorder for their insurance to cover any theft and a few that will require you deal only with certain tool dealers. I worked at one shop that wouldn't let Matco or Cornwell in the shop, and we had no Mac dealer in the area so Mr Snap-On was all there was. A good solution is to find a good used box, when it comes to security, Snap-On and the larger Mac boxes being the best. I can't speak for the newer Matco boxes but years ago they didn't hold up very well over time, between the color fading and drawer slides failing with no availability of parts. The parts issue holds true for most brands, regardless of warranty. Years ago, in 1986 I bought a brand new KR1000 bottom box and a smaller top box. No roller slides, nothing fancy. The box was sold with a claim of a Lifetime Warranty. after about 18 years one of the slide tracks came unwelded from the box and several of the drawer slides needed replacing. Snap-On at that point no longer stocked parts for that box, they told me they dropped all parts support for it. I was offered a $125 credit if I wanted to trade it in on a new box the same size or larger. But not on anything lesser in size or for any other tools. I ended up rewelding the slide brackets myself and I reversed a few slides and got it to work pretty well. I lived with it for a few years then traded it in with a new dealer for a recently repossessed KRL1003 top and bottom from an dealer at my second job. I paid cash for the box, bargained down the price to where I thought it was worth my while. The look on the SnapOn dealer at the other job was priceless. I wish I had kept that original KR1000, it was by far a better box than the newer model was. Even without the roller slides. Now, 20 years later with that box, the slides are starting to fail, its been in my home garage for the last 17 years only lightly used and 9 slides are bad and Snap On says they no longer warranty tool boxes for life, and that slides are 'wear' items, but the one's I need are no longer available. This time they simply said the box, which has yet to see a scratch, is worthless. In retirement, I'm not buying a new box. I bought a smaller box used that had the same slides for parts and fixed mine. I've had zero luck trying to sell it or the four bank box I've got, (unless i want to give it away). The best offer I've had was $500 cash for a box that cost over $20k 20 years ago. So unless you intend to be buried in your tool box, buy something used and cheap because no one will pay anything for a used box because they can't move it and most techs don't have any lump sum cash to spend on a box.

[@jeffcanyafixiy]

Not a mechanic but enjoy your vids just the same. In construction we called a guy like you an "ole head". A guy that helped keep the new guys from killing themselves, looked out for um. Damn good of you to take the time to do this. 👍👍

[@RustbeltMechanic]

Thanks man, appreciate the support🤘🏻

[@koorite.]

Great advice! One thing i'd like to add, is that all of the tool trucks in my area offer 0% interest truck accounts like you said, but they require 10% weekly payments. If you got $800 worth of tools on the truck account, that would be $80 a week which, i myself, couldnt afford. If you got that same $800 on the company account the payment would be like $10 a week. Yes it would have interest, but it is a more affordable option as far as payments go. Again, that may just be my area, but that is what i have experienced and didn't know starting out as a tech.

[@thisguysgarage]

33% is loansharking so go from there.

[@603Cummins]

Guys making 50-70k a year, somehow convinced they need a 14k toolbox, a $220 wrench, $450 sockets, $550 wrenches, etc. because nothing else will do, will forever boggle my mind.

[@matthewjackson9615]

Why don't the repair shops supply the technicians with tools they need to begin with ? Or at the very least offer a tool allowance of some sort ?

[@410AutoTech]

That's why KZbin is awesome, videos like this can help future technicians stay away from being in debt. New technicians under huge debt just starting most likely wont stay in the field due to not being able to have money to stay afloat.

[@thisguysgarage]

If the snapon trucks around here didn't float the house credit $20 A week they would never have sold anything. Back in my day a mechanic or body man with credit. Lol wasn't heard of. Great advice But the times have been changing.

[@96ruly]

What in the world are you trying to say

[@thisguysgarage]

@@96ruly what is your issue lol

[@zoticus1]

That's all I use is truck credit. Only buy 300 max. Rarely as well

[@connerbowey3200]

I do $500 “tool hauls” no interest and I pay what I’m comfortable with till it’s paid then I come and get the next tool or two I need

[@BassWhoopinFishingTeam]

If you can’t pay for it in cash, you can’t afford it.

[@GeorgeJFW]

So happy I payed cash I am really think about calling it quits and having 20 grand on a tool box would be a nightmare

[@JustinDowDIYcentralhighway]

Great Video Topic & Great Coverage of how the credit system works. Not just with Snap-On, but with beginner Lending. Cheers!

[@RustbeltMechanic]

Thanks buddy!

[@corey5109]

The median income for a mechanic n the US is 46,000, average tax bracket for a single person in that range is 20%, median national rent is 1700, average insurance for someone under 25 is 400, average car payment is 500, average food cost 400, water, power, phone, health, etc. you are already in the negative just doing this for a “living”. Snap On tools are not in your budget. In fact, this career is not in your budget. Stay away, become a plumber, electrician, HVAC guy, welder, any other trade but this.

[@mototraining265]

Al Chile si man estos jales de mechanic force you to get in debt is insane, I'm even thinking to get into another industry.

[@fernandocastillo9499]

You hit some real valid points across the board, it can get expensive really quick when you're a young tech with hardly any credit and like you said all it takes is a signature to get you locked into a potentially high interest rate. That being said, if you're fortunate enough to have a snapon dealer that's actually looking out for you rather than locking you in into what feels like an eternity of credit payments is an easier pill to swallow. I was fortunate enough to have a dealer that would rather sell me $1000 worth of tools on a truck account and slowly pay them off. Rather than have him roll the account over to credit and pay who knows much more in interest. At the same time a good solid relationship with your dealer goes alone way.

[@darwinmetiva5640]

Young techs are lucky today. They have a large choice of good quality tools for a reasonable price. The black hole is no place to be when you are first starting out.

[@charlesshankle3178]

The credit union would be my go to. I am member of two credit unions and the interest rates tend to be much better than any tool truck. To get a nice tool truck box, know what you need and buy nothing more. Finally, pay as much cash up front as possible

[@DTTM1993]

Been there! I needed a box and had no credit right out of high school, 29.9% interest rate was what snappy gave me. I payed over $100 a week to get that sucker payed off in about a year

[@theobrown1309]

When I was attending universal technical institute they routinely pushed for the students to visit and take loans from the snap on guy they kept in the building

[@trekzilladmc]

A mechanic was saying that it was because the schools have some sort of partnership with them where they get a small percentage of the sale?

[@andybub45]

@@trekzilladmc Yes. And they get tools. Snap On puts their tools into community colleges because young guys use them in school and end up wanting to buy them for work.

[@pdfads]

That is sick.

[@NovaPrime54]

This company should be investigated. My 19 yr old son just started working at a car dealership and some snap-on sales guy coerced him into to buying a 5000.00 toolbox. Not only that, the interest on the credit line is 24%! He’s basically going to be paying double for this toolbox. 4100 in finance fees is criminal. I’m already pissed at him for making such a bad financial decision but I’m also upset at this sales guy for duping him into this loan contract.

[@RustbeltMechanic]

That’s sad man. That’s why I always tell these kids if they’re dead set on a nice toolbox (sometimes you just can’t change their minds) to look into student programs if they are going to school, that gets stuff half off. Or look into used stuff and to use your own financing, not the financing on the truck.

[@wford1984]

Your son shouldn't be around heavy machinery.

[@Toyotas_n__Tools]

Going to a credit union to buy a toolbox would almost be the same scenario as if you were to buy a car. What they would do is want all the details of the toolbox msrp and job/personal info so they can calculate what kind of depreciation it will have over the course of the loan, say its a 30k box and you got it for 20k cash to the dealer if the loan is approved.. That will lower the credit unions risk that if you cant pay for it that they can repo it if things don't work out, it also increases your chances that they will loan XX amount of $$$ for a loan period. Do your best to eliminate middle men. When I was 20 the car dealerships wouldn't loan me on anything but when I went to the credit union they were willing to float me $60k @ 10% due to my income and job history. That's why its so easy to get yourself screwed into debt young!

[@billbeckett1021]

When I was starting out the only choices were Sears, parts stores (no Auto Zone Advance etc..)and the tool trucks. Now with the internet there is an abundance of places to buy tools. Just make sure that your NEED purchase is paid for before you buy any WANT items. Like an old timer told me put your want item off for a couple weeks until you have the money. Most times the want goes away and now you have some money saved also.

[@billk5296]

Truck dealers are encouraged by corporate to have technicians open up a company credit line for toolboxes, then roll their small truck purchases into that credit line so EVERYTHING can be repossessed for late payment.

[@erictech201]

Bro that’s only if you’re late lmao don’t be late

[@kraybrother8768]

This how they get you, they want you to get a toolbox, now you got this big empty box with no tools and guess what, now they got you on the hook, because now your ego wants to fill that toolbox up with snapon tools

[@plantedrabbit3]

glad you made this video, im just starting out and i really only buy specialty tools or tools my techs have that we use every day on the truck, and a lot of the basics at harbor freight or off amazon, but i see a lot of guys, even at my shop getting into debt buying tools off the truck and those weekly paymets add up like crazy

[@stratialepidis]

As a former snap on dealer I have a bit of insight on snap on credit or SOC. I have seen many different ways of going about credit and options for purchasing tools. The revolving account or RA truck account is the backbone of the industry. Still the best way to do it. It is how we bring in money to do anything. Buy inventory, pay ourselves, buy gas etc. one under rated form of credit not all dealers fully utilize is sbec or small buyer extended credit. It is a 6 month 0 interest loan. It has a cap of 1000 to 1300. This is a great way to supplement the RA without breaking the bank. So if let’s say you owe 800 on the truck and paying a hundred a week but want or need that ball joint set at 800 but can’t stretch to 200 a week the sbec would be 30 more a week. Stretched out 26 weeks plus continues to give you buying power on the truck as your ra goes down. Then in 6 months when finish and your need to gets a cart for let’s say 700 and set up an sbec for that. Dealers don’t like it because it cannibalizes the RA. Dealers get paid for that as a credit on our bill with Snap on. As they would prefer the ongoing truck cash flow. But a powerful tool to allow you to capitalize on a special deal esp a combo deal after the SO tool show.

[@1970chevelle396]

That won't ever happen to me. Because Snap On would never give me credit. If I want to buy something the only way I'm getting it is if I actually have the money for it.

[@goinhot9133]

It’s funny the company gets the blame for selling you a big box you don’t need on credit. The responsibility falls at the feet of the consumer. It’s the company who charges such a premium, because so many people are POS and steal the merchandise.. My dealer was out 40k because of a couple people screwing him on big boxes, and it directly affected everyone on his route. It’s always the dealer being the bad guy, when credit cards often charge 18-30% interest. What’s predatory in my mind, is when you miss a payment or something, and the interest jumps or what not. (I’m sure we have all heard the story’s). The hidden cost, the fine print.. but if your a idiot and get sold a box, or a car, it’s not the dealer it’s your fault.

[@ifitsnotbrokenfixit1193]

I agree with you 1000000% Its not the dealer 99.99% of the time. People should see if there budget allows them buy of said tool truck.

[@gregblau8082]

I don’t agree with it but it’s the dealer’s job to sell you on their products and credit options. Young techs also have a bunch of guys who have been drinking the koolaid for 10 or 20 years telling them this is what “real mechanics” do. I’ve had a couple times I didn’t have my wallet and paid the next week but have always paid in full. If I can’t I don’t need it.

[@goinhot9133]

If it's not broken fix it yes, it’s bad financial decisions on the consumers part not the dealer.. I also think it’s funny when den of fools harps on SnapOn etc for the credit accounts and taken advantage of young techs, but then the brand they purpose as the alternative, also just started doing credit 🤣 oh so your a idiot if you finance a 10k SnapOn box, but your smart if you finance a 10k Harbor freight box 🤣🤣🤣

[@goinhot9133]

Greg Blau I think your right, but really that’s peer pressure, and the responsibility rest at the feet of the consumer, not the big bad evil corporation that made it possible for people to do something great (someone who needs it, pays it off wisely), or terrible when they can’t make their payment.

[@gregblau8082]

You’re right there’s no difference between wanting fancy tools or fancy clothes to impress people. The last Mac guy we had only lasted a couple months and we’re constantly going through Matco dealers because they can’t order more tools when people don’t pay. I hate the victims’ society we live in and there’s plenty info online that a lot of us didn’t have starting out. However, I watch everyone go out to the truck and get that guys half my age want to be in that club. If I were them I’d believe this a lot more coming from someone like Kyle with obvious experience and hats off to him for sticking his neck out.

[@cardo1111]

As always really good, well presented content. I wish I could make those returns on my money. Start small maybe buy a U.S. General or similar tool box to start and only buy the really good expensive tool truck tools for the ones you use daily. Upgrade when you start making some money, don't buy disposable junk either because that will cost you more in the long run because you will have to buy it at least twice, there are some good mid line tool options these days. It's unfortunate that interest rates are always the highest for those who could least afford to pay them.

[@waltercruz-escobar8017]

If you have to use the tool truck, keep your account personal with the tool truck guy himself, and don't get the credit card. Just keep the weekly payments at no interest and budget your purchases, don't go crazy all at once. Buy tools as you go as you need them.

[@93sundance]

I have bought a bit of everything over the years. The Mac truck will warranty Sunex and Gearwrench and I bought them online.

[@kawasaki000000000000]

I started buy tools when I was in the lube lane and not going over my head with anything . The dealer I have right now has never said I couldn't pick a tool up even if my bill was at 1000. I dont know what my limit is on the truck and don't want to really find out lol

[@Techformative557]

I avoid the tool trucks overall. Markups are just insane and I can get alternative brands which get the job done for me off Amazon and eBay. My toolbox is 46 years old and got it from an older tech who retired for a fraction of it's vintage value. All my in shop bought tools come from sales like father's day and so on. Also store brand tools are not bad anymore, they've upped their game. Kobalt for example, they are killing it.

[@redneckwithajeep5001]

Personally my method of buying tools is buy cheap and if I break it replace it on the tool truck. For example we all know good drill bits are expensive. I have a cheap set that get me by most of the time but they do break and they don’t work as well as I would like. Just want on the Mac truck last week and asked about what he had in used tools he showed me where they were and I bought a set of matco drill bits 3 of which were broken the rest needed sharpened. So from there matco comes in the following day and I warranty the broken ones and sharpened the rest with my drill sharpener. Depending on the tool buying used does not bother me as it’s a lot cheaper and you still get the same warranty

[@renaissanceman4267]

I have seen "SOOOOOO MANY" fall down that black hole!!!!

[@pelotas56]

My first box was a scratch a dent special from cornwell. That cornwell dealer thaught me understand the how's. He long retired but his advised helped alot.

[@ifitsnotbrokenfixit1193]

Nothing wrong with a scratched and dented box. They still have the same warranty. And they can be had for way less.

[@pelotas56]

@@ifitsnotbrokenfixit1193 not at all. Worked great for 6 years in a professional environment. It's now in my home garage.

[@ifitsnotbrokenfixit1193]

@@pelotas56 My newest cart was a scratch and dented bluePoint. It works as it should thats all i care about.

[@jimhaines8370]

I don't know if things have changed but I know twenty plus years ago I was told by a lender representative that Snap On or other tool company credit can only hurt you if it shows a failure but lenders dismiss them as a positive if everything is all up to date so it won't help you build credit. As I say things may have changed but they looked at the tool companies not as lenders but secured lenders like pawn shops so no long term positives in their eyes and I say this a mechanic that never did apply for that credit as the most I ever floated on a tool truck was probably three weeks. Mostly if i needed something large I would prepay up to a curtain amount and then be able to pay it off in two or three weeks. I also found out that it worked good for both sides and I got better deals that way because of that.

[@FigureEightdetailingco]

Rock n roll can express just came to Alberta, picked up my titanium and deep blue classic 73” 3 bank box. Absolutely love it, the go to tools are in the bank drawers👌

[@cjmccavanagh2858]

It really does suck to see how quick some people can set themselves up. I’m at diesel mechanic by trade and I’ve always gone by a few rules. I’d you need to borrow the tool more than three times buy it. If you buy it get the cheap one, and if it breaks then get the expensive one. I’ve also always been a believer in paying ahead. I got a triple bank, power drawer matco 4s box brand new off the truck a little over a year ago. My dealer and I were super cool and he ended up giving me a massive discount plus a very generous trade in on my old box. The boxes pice went from $11,500 to $5,500.... I bought the box and my minimum payments were $33 and some change a week. From the very first payment to the last (this week on Thursday 12/10/20) I gave my matco guy $100 a week. I was projected to have the box payed off in 166 weeks or 3 years... I stayed true and had it paid off in a year and one month

[@ghostwrench2292]

Excellent video! Full of great information!

[@andybub45]

Just looking on the Snap On student website, it really irritates me how they push the whole “you have to have snap on tools to be successful” thing. Yes, I get there is a discount but even with the discount a lot of their stuff isn’t worth the price tag starting out. You won’t see me making payments on tools, that’s for sure. Cash only!!

[@charliemagoo7943]

I have wondered if harbor freights next move is credit for the icon stuff that seems overpriced. Another tip for the truck. Find what you want. Go on there with cash. You can often get 1/2 price for cash. Makes you really feel good you got a sweet deal plus you own it 100%

[@kendallas3705]

When I was a struggling tech I got a secured credit card for 250 bucks. That means I can only spend that 250 bucks then its done till paid down. I used that card to pay my truck account every week. That helped me leverage the money a little bit and since it was a secured card the interest rate was pretty low. It gave me a 50 dollar a week payment to the truck which I never had any problems with. That is what kept me out of tool truck debt..

[@FusionKota]

The only thing I enjoy buying from tool trucks is the boxes. I do NOT pay the ridiculous prices for basic hand tools. Matco has 10-20 piece ratcheting wrenches for more than one thousand dollars! The only thing worth buying thats truly the nicer side of tools is they're boxes, depending on the dealer and the trim you get of course. Also there's some good deals they have and there's tools they supply that just don't have any competition that are also worth buying. I just wish they didn't charge so much, they could sell so much more to people they'd need to replace their trucks with tractor + trailers. Unfortunately nobody will stop buying their tools because they just don't know there's better if not the same quality tools out there.

[@cadillaccooke811]

So, I like my dealer, and I like doing business with him, I'm young still, and have only been wrenching less than 10 years. But I'll put this in perspective, I started buying Snap-On after I bought a house. Don't go the other way around is my advice

[@RustbeltMechanic]

Perfect bit of advice!

[@JackDaniels-v6f]

Snap-on is being sued for lying and being a predatory lender. You buy a $12,000 tool box, it actually costs you 22 thousand! Buy a scanner for $8500, cost you over $16,000! They getting sued and I'm one that's suing them.

[@MrManuel1329]

It's a blessing kinda that no big Tool Truck brand comes to our dealer but sucks when you need that one tool or need warranty it.

[@nevillepretorius8948]

Very good advice. Tool truck debt is not a funny matter when it runs away with you. I never let my truck account go over $200. Cash is king. If I cant afford something, I walk away. Young techs should buy from HF, once you making proper money, buy from the tool trucks. That said, my Snap On rep is great and always gives good advice.

[@DK-jk2cn]

In my town we have a cap on how much interest a business like snap on can charge me. It’s capped at 4% Which is very fair. But at the end of the day paying in cash is batter

[@Toyotas_n__Tools]

Snap on will relate to this also but I made a post on Instagram how harbor freight is like the tobacco companies with how they aim to advertise at the people who may not have a good education or even read well when they post pictures of their toolboxes and jacks with a advertisement of a 20% off coupon but has a fine print excluding all those items in the 20% off coupon. The method of selling tools on credit is like rent a center selling a $300 xbox that will cost $1000 after 1 year of the weekly $2x.00 payments. Its like people go out of their way to be poor and appear a certain way to people that don't know you. If I can build the tool set that I have without credit or ever having to make a payment towards something, anyone can and there shouldn't be excuses. Wanting instant gratification will wreck you financially. BTW free interest leads to over priced items like that icon tool box, someone using 0% financing is cutting profit from the dealers up to %15. Paying with cash gets you better prices and leverage being that they can hide it from the greedy government its sickening what small business owners pay in taxes.

[@matthewjackson9615]

Keep on talkin' man , I'm ready to be a Snap On dealer. Sounds like a good gig.

[@billy-sx8wx]

Snap on are fantastic tools. Cornwell, Matco, and mac are good too. But there are so many amazing affordable tool manufacturers out there. There are a lot that the big four put their name on and charge more for. Auto part stores, harbor freight, northern, and Amazon are all amazing.

[@johnbeach3804]

I own mostly all snap on. I get a great deal from my dealer but I also only but snap on now. I bought a tool box after I got out of the military and was affected by predatory lending and got approved for a tool box 548 credit score at 29.99%. I worked and paid it off within 2 years without that loan I wouldn’t be where I’m at with my credit in the 780’s now. Just be smart about your finances and pay all your debt off asap and you will be fine. But if you’re a new guy I would save and buy used box and focus on getting quality tools.

[@dougtilaran3496]

Are you related to Mr Subaru ???

[@markschumacher5728]

So many defaults is 80 percent of the reason Snap On is so expensive.

[@lornes798]

Just picked up a new 84 epic for $6850 at 6% interest through Snap-on credit considering my first 84 after my trade in for a classic 96 series box was 10k at 12% don’t think is too bad after building good credit. Gotta shop around and remember they are working for your business not you are working to get there business. With the competition with online boxes that are actually good quality they will have to be competitive otherwise the boat will sink.

[@vincentmedina1092]

Most of the tools you see on the tool truck you can pick it up on amazon for half the price 🤷🏽‍♂️.

[@LVCatSociety]

Exactly check out tool truck rebranding on Instagram

[@SuperJhuffman]

My snappy truck guy mostly carries snap on, designed and made in Wisconsin and not rebranded crap. He also carries some bluepoint tools, which are in fact rebranded.

[@zoticus1]

Fact

[@jeffstanley4593]

What is a "rebranded" tool?

[@19ADAM80]

Jeff Stanley Any brand tool that another company buys out and rebuilds it, put their name on it

[@obsant7214]

What if you don’t have no interest at all and wht ever u pay for the tools and paying $40 a week or am I just lucky tht my dealer has known my dad for so long idk but i didn’t give any Info to even run my credit and get no interest is it still really a bad idea to invest to much money I won’t be investing a shit ton not tht stupid but kinda scared to go forward with investing a lil more in to snap on only getting want ik other brands haven’t caught up with and shit ik will last compared to other brands and pay cash for all the stuff tht isn’t snap on still a bad idea?(just starting out)

[@ifitsnotbrokenfixit1193]

Another thing is see if your dealer will let you do a layaway option. Or pay ahead for tools at a future time. Sounds funny but my Cornwell rep will for bigger items. If i can't pay no harm.

[@josephsnow7882]

If it's not broken fix it my Cornwell rep does the same. One of the main reasons I’m a Cornwell guy just cuz I’ve always had good experiences with those guys

[@ifitsnotbrokenfixit1193]

@@josephsnow7882 I think people forget or don't want to ask and see if they can. No shame in asking its either yes or no.

[@josephsnow7882]

If it's not broken fix it I agree

[@josephsnow7882]

Tool truck tools aren’t needed but if it’s a must for any of y’all. I suggest Cornwell tools. Say what you want about the company and all that but I haven’t had a single bad experience with Cornwell reps. Most are laid back and chill and are willing to work with you on payments. Plus they don’t try to shove truck credit down your throat or even push toolboxes in ur face

[@bikkens]

My first tool set was 50$ harbor freight Then 200$ Now 6k in milwaukee

[@PKhanz]

You buy Snappy tools for the warranty. Some things you want reliable with easy replacement and that's tool truck. Set aside a budget and always pay into the account. EVEN WHEN YOU DON'T OWE MONEY!!! I have a positive balance on the Snappy truck since something always comes up every couple months.

[@marcelcovaci9922]

Also you can get the tools from the tool trucks interest free by making a deal with the vendor, so you pay him not the Snap -on/Matco/MAC… so the vendor takes a risk by giving you the tool. I buy only the tools that are specialty tools not the tools that I can get at Harbor Freight

[@ifitsnotbrokenfixit1193]

Don't know why all the hate for the tool trucks. People need to look at there budget to see if they can afford tools from said truck. Its not the tool trucks fault for the high interest rates. Its the people who think that they want to work in the wrenching world. And soon find out that they don't like it. Or they buy from the truck and skip town with the tools. And who pays for it .the people who have the money and the common sense to make payments on time. Also people need to understand that making the minimum payment most of it goes to the interest not the premium. There's no shame in asking for a better price. Or if they have or can get a scratched and dented box. My newest bluePoint cart was stupid cheap because it had a really small dent and some scuff marks on the top.

[@melgross]

Snap On credit is notorious. Their tools are pretty good, but you are NOT getting what you pay for. That’s pretty well established. Their tool cabinets are two to three times what they’re worth, compared to other manufacturers’ cabinets. Guys on site are pressured by guys on the site who buy these tools. Peer pressure can be a terrible thing.

[@markj7519]

Like many have said the best thing you can do to not go into debt on a rool truck is if you can pay cash for the tools do that.

[@airratchet7313]

I got 9% from snap on for my box and my bank couldn't do better then that because it would have been an unsecured line of credit. That's with excellent credit, so plan your payments to pay off in one year or less to save the interest.

[@Rhodesian_FAL]

I’m a cash operator only.

[@brianritzpatrick4737]

Honestly its just an addiction more than ego. Truck comes by every week, lets you take what you want without running credit thats very intriguing

[@georgecroney6168]

I'm my own person and maybe don't think like everyone but I'd rather be broke and own what I do have than look, feel and live like I have what I can't afford. I can walk away from everything and owe no one a penny or any kind of favours. I don't borrow tools either. Before you know it you're lending everything to everyone and you're asking for your own tools back

[@tyroneallen8064]

I thought my 17% was bad 30% is crazy harbor freight and home depot are affordable

[@keny46]

You can still get decent tools while not going into debt. Most people with sense call it "strap on" for a reason.

[@CL-02]

Snap on must be different in the UK because I'm on 0% fixed interest and so is everyone else that buys from our van that turns up

[@juanpaz6707]

Snapon gave me a rate of 19% interest even though my credit score is up in the 800 range. Kinda regret financing through them to buy a tool box.

[@harveysmith100]

"The most powerful force in the universe is compound interest." Albert Einstein.

[@383lt1impala]

I got 0% snap on interest rate for 6 months after 6 months it would go to 29% but I paid the box off in 3 months.

[@TheYouTubeMechanic]

why did my contract start at 7k but now it is over 9k?

[@steviefpv]

I’m not a mechanic but I do my own servicing and jobs that don’t mean opening a engine up so minor stuff, I still by snap on as I only need a few things so they will last me my life and will be handed to my son when I kick the bucket.

[@justanotherbuild2095]

32 sounds good compared to my 43 I’m dealing with right now

[@mototraining265]

Tools, student loans, liability insurance omfg.

[@osvaldo8393]

Yeah that’s right the snap on guy told me the only people that get 10% are old farts lol His words. For me he gave me 18% but I instantly declined , that’s outrageous. I would of rather gotten a better interest rate from a credit union or a 0% interest rate for 21 months from a credit card. Matco did give me a better rate tho at 10% for 22k$ and I made them compete but it didn’t work lol They were just fighting to sell me a cheaper box The snap on guy offered me a 72x 30 triple bay for 6200$ And matco offered me the 77x25 triple bay for 7k but still it’s a lot of money.

[@juanpaz6707]

The Snapon reps told me because of the high turnover on tool boxes the interest rates they give are high.

[@tomreed9606]

Save your money. Buy the cheaper tools first, so many choices online now. Save for the toolbox, buy it used if at all possible. Start with a cart, work your way up from there. If you're good at what you do, no one will care if it's a Craftsman or a Mac or a Snap-On wrench in your hand.

[@BOOSTerrific]

Rust belt, if your snapon rep has too many people who have defaulted on their loans your interest rate will be high regardless of your personal credit score. There us nothing g the rep can do to change that, it comes down from corporate.

[@Michael-me2vu]

Snap on is simple interest. Not compounding. That 20 percent is still cheaper than the 6 percent from a CU

[@thebackwoodsmechanic5029]

I used to earn a ton of money with my Craftsman , when I did buy Snap On, Sk, Proto it was cold hard cash because Its King . You can earn money with Gearwrench & other brands then buy Snappy with cash along the way. Other credit hars companies are easier to build credit, Snap On is a boot on the throat interest rate

[@AcornFajitas]

If you work with tools, your tools are an investment. You can buy cheap crap all day but you will be wasting time and money when you have to replace it, and time IS money in most industries. Just saying, there’s alot of smack talk about snap on but if you are serious about your job you’ll spend the money on good tools that do the job right. Also, don’t forget about all those people who get boxes and don’t pay for them and steal from snap on. That happens alot so it’s no surprise they have a high interest rate. Be smart with your money is a granted, being wise with it is learned. Nice box 😉

[@nicktorres5540]

My snap on provider sold the fucking truck without telling anybody and I mean the whole row and Company to a new guy did not inform us or anyone on his route. I’ve been a customer for over 10 years with Snapon. I’m double platinum. I’ve never missed a payment and they didn’t transfer any of our information over to continue payments on the truck or snap ones credit account and it’s now been 3 to 4 weeks of me not paying them then all of a sudden the randomly calling me when I’ve been paying it to a ghost account that’s apparently not there anymore. So now snap on is saying I owe them 310$ plus 511$ for this month if December

[@rock962000]

Damn, I guess I'm pretty lucky to be on 9% interest for my snap on interest rate

[@CL-02]

I'm on 0% interest so it must be different here in the UK compared to other countries with snap on

[@hhuodod2209]

Funny in some countries ur employer supplies all the tools. Even you’re boots x

[@thepitpatrol]

The tool truck dealer, if he is good can control some of this. The new techs get all giddy when they see all this stuff and can let an account get way out of control.

[@maciejjanusz3774]

I bought a snap on tool box limited edition for 4K £35 a week to build my score up so I can eventually get a mortgage for a house when I have a perfect score

[@daevid21]

Your paying more like 10k for that box with the interest rate 😂 at least 8k

[@mdlawn4276]

Fiance yourself by creating a weekly personal savings account, then pay cash for your tools. You don't need the best of the best (debt) to start making money. Work hard for yourself and not the loan sharks.

[@bobbuilder-wo9tv]

Get icon tools. Harbor freight has a 0% interest program up to 24 months. Does snapon? Snapon just wants your money.

[@dirtyhandscleanmoney805]

I use Amazon tools and they’ve been way better than any other stuff. I only buy Matco when the Amazon tool breaks. But electronic cordless I use Milwaukee all day! There is a super young like 22 year old tech at my shop who put his sick ass car as collateral and ontop of that he’s 10,000 bucks in debt and he doesn’t even use all his tools. He signed a 7 year contract I feel bad for that dude. Every week I see the snap on guy hunting for him when he comes into the shop. Pays 250 weekly. That’s $1000 a month. It sucks. But oh well. I stick to my stuff and I always pay cash for the tools I rarely get credit.

[@jeffwoods9666]

I started out got a set one set of wrenches snap on when I was 12 . I’m 44 now and own I say $170,000 in snap on . I buy maybe 8 to 10k a year and still going . You can’t buy all your tools in one year . Them guys love 20 year olds . Lol 😂. I got a craftsman box at 16 and didn’t get a snap on box till I was 32 .

[@dougtilaran3496]

Says the guy standing in front of the $3500 box....that cost 20G uS Pesos. They Snapped it-Off...

[@CapeSIX]

When I was a driver I could give anyone $16,500 in credit at a minimum. 😂. I never did but they would of let me.