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The classic question. Should I go into debt?

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Kirbot

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Joined
Sep 25, 2010
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New Jersey
Personally, I would never even consider spending that much on a box, even if I had the money to blow on it.

What exactly is this box going to do better than your current one?
Is that difference really worth $4000?

If your ready to drop 4 grand on something, are you really sure you wan't to spend it on a tool box?

I mean, I could buy a really nice Mg midget for that kind of money.
1977-mg-midget-1500.jpg
 

BJ42LX

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Dec 29, 2010
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Location
WNY
Leverage (debt) is a very powerful tool and must be wielded with caution.

In my opinion there are only a couple reason to go into debt:

- buying a house
- education
- to buy a car - if you can't pay off the car in three years you can't afford it.
 

jay50

Banned
Joined
Oct 28, 2007
Messages
3,894
no, economy in the ******* big time; gas prices going up.
We ain't seen the worst of it yet.
Hang on to your dough and you will be glad.
 
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BowtieGuy

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Jun 21, 2010
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107
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OHIO
"then you're not the kind of guy that should be spending 4 grand on a box just because you're tired of the color on the one you already have."

Lol, ok. Again, it's not just the color. The real driving force here is the fact that I could spend $4000 ( plus interest of course) on a box that sells for $10,000 new. That seems worthy of considering it. Plus the fact that my current box is older, etc. Maybe this is the time for an upgrade? etc. etc. In ten years, what would it be worth compared to my already well used box? Many factors other than the color. ;-)
 

PT Doc

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Joined
Nov 12, 2010
Messages
3,197
You say its just 4k. But its not. Its 4k+ your box + the interest. How much is your box worth? How much interest will you pay? This box will likely cost you WAY more than you think.

If you have to ask, then deep down you shouldn't be buying it, but at least you asked before you bought it. If get in the habit of buying things you can't outright afford, you will likely repeat this again and again. Pay cash for things.

With that said, buy the box since our economy greatly relies on people borrowing money. Go for it!
 

srmofo

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Oct 15, 2009
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SW ohio
Nope....Thats not a killer deal. If you got to keep your old box, then that would be a killer deal. Either way if you havent outgrown your old box then theres no "need" to upgrade. $4k used boxes can be had all day long and you get to keep your old box.

Personally I like having 2 seperate large boxes (along with all my little ones at home).


Out of curiosity and to get a better idea of the situation:

How much did you purchase your current box for?

How much have you paid on it including interest?

How much is this new box actually going to cost you? Whats the toal $4k plus your current investment?
 

Bull

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Joined
Dec 12, 2005
Messages
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Location
MA
How about this question: how many hours of your life must you spend working for someone else in order to earn the money to pay for this box?
 

UncleJoe

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Dec 2, 2008
Messages
908
Location
New Bern NC
Okay, all you guys saying dont go into debt, how do you pay for your items that are $4 thousand dollars? Im sure you have all bought something in that price range, everybody paid cash?

absolutely. It is called patience. Sometimes I had to wait. With no other debt there is a lot of money left over each month. Put off that $4000 item for awhile and pay cash. You can buy a lot more stuff if you wait. When I get the urge to buy something big that I want I ask myself if my life will be ruined if I don't get that item for a few months or even a year.

Paid cash for items a lot more expensive than $4000. It is all about the choice you decide to make. I choose to wait and I have no problem if someone else decides to use credit, it is their choice and they should be happy with their choice. Now if they ask me what to do my answer will be wait until you can pay cash.

It took time to get here. For years we only did credit for cars and the home. Now we pay cash for new cars and the home is paid off in 26 months. We are looking at a new home in the country when the housing market improves a bit and we will take the money from selling this home and add to it some savings and pay cash for that home. No payments but taxes and utilities and Insurance. It took time to get here but it can be done. If it is not for you that is ok, it is all about choices.
 
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grom

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Oct 8, 2010
Messages
53
I think you're convincing yourself despite asking for opinions. If that's what makes you happy... whatever. You gotta ask yourself if it's worth it though? In my eyes, absolutely not. 4k is a lot of money for a box, period. 10k is a rip off. That BS about it being a good sale and 10 years down the road and whatever... that's the argument my wife gives me when we're in the mall. Your box, be it 200 dollars or 10,000 dollars, holds tools. It sits there and holds tools. It doesn't give you money. It just... holds... tools. I'm the type of guy who will run a box for 10 years and weld the thing back together when the drawers start falling out and keep on truckin'. Whatever floats your boat, though.
 

nato

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Dec 23, 2009
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Location
Northeast Ohio
Ask yourself- will this box make me more money than the current box? If the answer is no, then don't buy it. If the answer is yes, figure out the amount of additional monthly income this box will generate and divide by the additional cost you will incur (financing costs as well). This will give you a capitalization in the number of months to pay for the box.

But, it is a box, so let's be real here- it's friggin sweet and shiny and you want it. If you can afford to part with the cash and want it- get it. Is your car/house/credit all paid off? Have you saved away 15% of your gross income away this year for retirement? The box will not appreciate in any way once you buy it and the dealer could sell it for more if he would, so you are buying it for market value, no real deal here.

Are you kidding me???? Wow, some people must have it easy...even without our debt, we probably wodn't be able to do thaat (combined net income for my wife & I).
 
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BowtieGuy

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Jun 21, 2010
Messages
107
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OHIO
Nope....Thats not a killer deal. If you got to keep your old box, then that would be a killer deal. Either way if you havent outgrown your old box then theres no "need" to upgrade. $4k used boxes can be had all day long and you get to keep your old box.

Personally I like having 2 seperate large boxes (along with all my little ones at home).


Out of curiosity and to get a better idea of the situation:

How much did you purchase your current box for?

How much have you paid on it including interest?

How much is this new box actually going to cost you? Whats the toal $4k plus your current investment?
I haven't added up the total cost of that SO box yet. But, I paid $900 for the macsimizer.
 

srmofo

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Oct 15, 2009
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SW ohio
A quick search pulled this up. Yeah its not 4k but yours isnt either. Its larger, has all the extras, and is red. My point is that more deals will come along.


edit nevermind if you only paid 900 for the mac. Still doesnt sound like a great investment to me but if it makes you happy then by all means spend your money
 
Last edited:

lowrider gmc

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Sep 4, 2010
Messages
50
Location
regina canada
Personally, I would never even consider spending that much on a box, even if I had the money to blow on it.

What exactly is this box going to do better than your current one?
Is that difference really worth $4000?

If your ready to drop 4 grand on something, are you really sure you wan't to spend it on a tool box?

I mean, I could buy a really nice Mg midget for that kind of money.
1977-mg-midget-1500.jpg

i would take the box over the mg:)
 

Chadro

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Joined
Feb 13, 2010
Messages
887
Location
Eastern Missouri
Why not talk to your MAC man? He may do a real good deal on trade if you just get the same box but in a different color. I couldn't begin to guess what he'd offer but you made be able to trade it off for half of what Snap-On wants and then you can spend the rest on an add on for the new Macsimizer.

I haven't seen an Epiq in person yet but something tells me it is no better then a Macsimizer, I'm sure they're on par with each other.
 

I can fix anything

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Aug 14, 2010
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TeXaS
Why not talk to your MAC man? He may do a real good deal on trade if you just get the same box but in a different color. I couldn't begin to guess what he'd offer but you made be able to trade it off for half of what Snap-On wants and then you can spend the rest on an add on for the new Macsimizer.

I haven't seen an Epiq in person yet but something tells me it is no better then a Macsimizer, I'm sure they're on par with each other.

It blows a Macsimizer away.
 

PT Doc

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Joined
Nov 12, 2010
Messages
3,197
absolutely. It is called patience. Sometimes I had to wait. With no other debt there is a lot of money left over each month. Put off that $4000 item for awhile and pay cash. You can buy a lot more stuff if you wait. When I get the urge to buy something big that I want I ask myself if my life will be ruined if I don't get that item for a few months or even a year.

Paid cash for items a lot more expensive than $4000. It is all about the choice you decide to make. I choose to wait and I have no problem if someone else decides to use credit, it is their choice and they should be happy with their choice. Now if they ask me what to do my answer will be wait until you can pay cash.

It took time to get here. For years we only did credit for cars and the home. Now we pay cash for new cars and the home is paid off in 26 months. We are looking at a new home in the country when the housing market improves a bit and we will take the money from selling this home and add to it some savings and pay cash for that home. No payments but taxes and utilities and Insurance. It took time to get here but it can be done. If it is not for you that is ok, it is all about choices.

Good advice for some of the younger folks on this site.
 

c_mccann

Well-known member
Joined
Mar 30, 2010
Messages
919
Are you kidding me???? Wow, some people must have it easy...even without our debt, we probably wodn't be able to do thaat (combined net income for my wife & I).

No, I am not kiding, talk to your financial advisor...
 

t100

Well-known member
Joined
Sep 3, 2009
Messages
6,101
Mainly the color (teal) is getting old to me.

this statement troubles me. does a shinny coat of red paint on your tool box make you more money? or help you do your job in any way?

you know my answer.

if you are really tired of the Mac, first clean it up would help a lot, or trade some mechanical works with a body shop for repainting your box.
 

I can fix anything

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Joined
Aug 14, 2010
Messages
2,689
Location
TeXaS
From what I hear, they're not that much better then a KRL. The KRL doesn't blow the Macsimizer away so what is it about the Epiq that is so much better?

I hope you have 4000 reasons on why it's better.

Its a Snap On thats the only reason needed:thumbup:
 

Frank The Plumber

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Feb 19, 2011
Messages
2,644
Location
Chicago.
The only reason I have a pot to piss in is due to the fact that I paid my **** off fast and have never paid interest on a credit card. In my whole life of almost 50 years I may have only shelled out 10K to the man at the Fancy desk. Start knocking down your debt, you no sooner will buy this box than you will be summonsed to the main office and canned or pay cut. I could go a long time with a teal box that was paid for. especially in the year 2011. It has really sucked a midget monkeys lefty so far this year.
 

buick64203

Well-known member
Joined
Jan 25, 2010
Messages
184
Life is short. If its gonna make you happy and you can swing it financially, I say God bless ya! Use it in good health. :beer:

Snap On extended credit is pretty reasonable from what I remember from back in the day. We've all bought things we wanted but didnt need. Ive got 5 cars I dont really need.
 
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