snap on finance rates

[daddy2coull]

out of interest, what interest rates are snap on offering in the US? as an example a £3000 toolbox over three years would be an extra £1600 in interest alone

 

[pi_guy]

Truck account 0% done 4 tool boxes through it
I have had a 4k balance for 3 months now, the weekly pay in covers what I take off the truck that week.
But my snap guy is happy that my balance is that high, he knows he will get money for the next ten weeks.

 

[Wes J]

Truck account 0%

Sorry but it's not.

Tell your tool man your are paying cash and see what happens to the list price...

 

[WhiffySpark]

Sorry but it's not.

Tell your tool man your are paying cash and see what happens to the list price...

Depends on the dealer. Some don't care cash or credit. Mine offered $1-200 off a $2600 hutch if I paid cash.

So I just use the truck account

 

[blown94conv]

In CT it is 18%, works out to about $45 a month on $3,000. The amount of interest you pay depends on how long you carry the balance.

Truck account is zero interest, and not every driver drops price because you pay cash. Mine will for volume, or if it's a slow moving item. Other then that, the price is the price.

 

[Strouty]

Sorry but it's not.

Tell your tool man your are paying cash and see what happens to the list price...

I always get deals, regardless of wether I pay cash or put it on the truck account. So I would agree it depends on the driver and how much you spend with them. I figure any premium I pay reflects the service I get, if I felt I wasn't getting good service, then I wouldn't spend the money.

 

[SiGmA_X]

Sorry but it's not.

Tell your tool man your are paying cash and see what happens to the list price...

I never got a discount, I always paid cash...

 

[blown94conv]

I never got a discount, I always paid cash...

I wonder how many people walk into a Best Buy or a Walmart and ask for the cash discount.

 

[Strouty]

When shopping, even in a big box store, there is always room to move. You would be amazed what a few questions can get you for a discount. If I am in a hurry, I rarely bother looking for a discount, but if I am buying multiples or a big ticket item, I always ask for discounts and yes cash can make a difference.

With my driver, even if he quotes me a "good" price, I will still go for a better price, especially when buying two or more things. He does the same to me when I trade something in, so it works both ways.

 

[daddy2coull]

i wasn't talking about a weekly account. I'm just talking about finance/hire purchase when you buy a big ticket item like a toolbox

 

[bobcatdan]

Depending on personal credit rating, it's as low as 9% which is better then most credit cards. Best thing to do is wait for the 0% for 90 days or so. Before signing, talk to the bank for a secured loan which can often be way less then 5% often.

 

[WhiffySpark]

Up to 24 or 28%

 

[WhiffySpark]

You can always do 90 days same as cash. Doesn't matter your credit rating. But you have to be approved for a loan either way. Platinum drivers can over ride credit decisions and get you financing

 

[TheEuronater]

I wonder how many people walk into a Best Buy or a Walmart and ask for the cash discount.

I've gotten pretty good discounts at Best Buy just for asking, and talking to a manager. Never tried WalMart, I don't usually spend more than ten dollars there. It seems that many Snap On dealers are willing to haggle. It's just up to the driver you get, like anything else in life it's worth a shot.

 

[justanengineer]

I wonder how many people walk into a Best Buy or a Walmart and ask for the cash discount.

I dont do Walmart period, but I've gotten great deals at Best Buy, Sears, and other retailers on display/scratch-dent/return items. The "markdown" sticker price is usually ~1.5-2x what a manager will let something go for.

As for SO, I dont know what SO-direct financing is like simply bc I want the truck discount. I've lived all around this great country of ours and the usual discount is 10-20% off list, tho the SO commercial dealer I dealt w/in AK gave military + cash discount of 30% off list.

 

[colin39]

i wasn't talking about a weekly account. I'm just talking about finance/hire purchase when you buy a big ticket item like a toolbox

Thats the fun about our trade, its so cheap. Your best bet is a good trade in or gumtree and pay cash, or failing tgat a zero percent cc and clear it in 12 months. The last one is possibly ya best option. Also by from the tool box van, not your normal dealer youll get a better discount straight off.
And 3k isnt that big ive just been quoted 18k for my next upgraded box. Shmbo isnt extatic about it

Colin

 

[JJThrasher]

I never pay cash and my dealer never charges me list pricing. Its all about the relationship. Example 312IPLM list is $761, I paid under $400 while making payments. When I bought my toolbox through him he moved me to SO credit. My interest rate is under 9%. Everything paid inside 6 months is interest free. I also paid well under list for the box and received over list price for my trade in. Preferred customer pricing is good and so are the instant rebates.

 

[colin39]

I never pay cash and my dealer never charges me list pricing. Its all about the relationship. Example 312IPLM list is $761, I paid under $400 while making payments. When I bought my toolbox through him he moved me to SO credit. My interest rate is under 9%. Everything paid inside 6 months is interest free. I also paid well under list for the box and received over list price for my trade in. Preferred customer pricing is good and so are the instant rebates.

Yes this ^^^

 

[brettboat]

i wasn't talking about a weekly account. I'm just talking about finance/hire purchase when you buy a big ticket item like a toolbox

I was quoted 21%... Mac quoted me 14%... So I have a Mac toolbox

 

[GeorgeFromPa]

my guy will let you go with zero if you pay him in a month or so.. no credit stuff. but if you buy something big your better off with your visa card.. snapon will get every dime off you.. the kid in the body shop next door bought a box and is paying almost 20 percent. when all is said and done the 5k box is going to cost him almost 10 k

 

[pi_guy]

Sorry but it's not.

Tell your tool man your are paying cash and see what happens to the list price...

I said if I give you 20k in cash what can you do with price?
& Had that discussion a few times and with the accounting system in place and NYS sales tax monitoring it is not worth the hassle. You have to play games in order to do a bulk in cash only.
I get good prices on toolboxes and I am first in line for any specials.
I have gotten several I took this in trade for 100 do you want it deals?
Plus I have a happy snap on guy who been doing this 30 years who is fair and honest. My first guy was a wheeler dealer and would do any type of deal and honestly I prefer my current guy cause there never a question with sending something back or you can only warranty that with a full moon .

 

[bsaint]

My driver had a 12k setup financed price, with cash it was 6,5k. Big difference.

 

[ttpete]

My driver had a 12k setup financed price, with cash it was 6,5k. Big difference.

There's plenty of room to move. I was tool buyer for a department in one of the Big 3. An SO rep came by once a week, and I would hand him an order and get next day service at 25% off the industrial price sheet. He was also willing to sell to anyone for personal use at the same price, which was over half off retail.

Biggest order we did was for over 100 taco carts.

 

[Hiball]

There's plenty of room to move. I was tool buyer for a department in one of the Big 3. An SO rep came by once a week, and I would hand him an order and get next day service at 25% off the industrial price sheet. He was also willing to sell to anyone for personal use at the same price, which was over half off retail.

Biggest order we did was for over 100 taco carts.

There's a big difference between a industrial rep and a franchised tool truck dealer, I'm surprised the Rep sold outside of the company, trust me I've tried....

 

[dkroth]

the kid in the body shop next door bought a box and is paying almost 20 percent. when all is said and done the 5k box is going to cost him almost 10 k

7.5 years at ~$25 per week.

 

[Trey T]

I wonder how many people walk into a Best Buy or a Walmart and ask for the cash discount.

Snap-On is different. You should never paid more than 50% of the listed price, especially the tool boxes. I feel sorry for a lot of struggling or starting out mechanics because the way S-O structure their pricing and finance, it's designed to cripple mechanics.

I've heard people finance S-O tools that are few hundred dollars .... I think there should be a law to protect consumers, especially the ones that can't at handling their own finance well. Financing is designed for people with good standing with finance, not for struggling people - look at Payday Loan industry.

I've gotten pretty good discounts at Best Buy just for asking, and talking to a manager. Never tried WalMart, I don't usually spend more than ten dollars there. It seems that many Snap On dealers are willing to haggle. It's just up to the driver you get, like anything else in life it's worth a shot.

yup. learn to be bold.

 

[Tonellin]

my guy will let you go with zero if you pay him in a month or so.. no credit stuff. but if you buy something big your better off with your visa card.. snapon will get every dime off you.. the kid in the body shop next door bought a box and is paying almost 20 percent. when all is said and done the 5k box is going to cost him almost 10 k

So many people need to google 'compounding interest' before financing these purchases...so foolish

 

[colin39]

So many people need to google 'compounding interest' before financing these purchases...so foolish

Lots by all accouts inc my british brethering

 

[Hiball]

Snap-On is different. You should never paid more than 50% of the listed price, especially the tool boxes. I feel sorry for a lot of struggling or starting out mechanics because the way S-O structure their pricing and finance, it's designed to cripple mechanics.

I've heard people finance S-O tools that are few hundred dollars .... I think there should be a law to protect consumers, especially the ones that can't at handling their own finance well. Financing is designed for people with good standinhg with finance, not for struggling people - look at Payday Loan industry.
.

No doubt... While you're at it, Let's get the government to step in and Ban Fast food or any restaurant that can't comply with specific dietary specs, Maybe Get rid of Soda, you know diabetes is running rampant. Let's see what else.... Cigs? booze? Lottery Tickets? Any Vehicle exceeding 25k? Homes over 100k? Where do we draw the line? When will people start owning up to there poor choices regardless of there craft/lifestyle? There is absolutely nothing that states that a mechanic must use a specific brand of tools, I just don't get this mentality.

 

[justanengineer]

No doubt... While you're at it, Let's get the government to step in and Ban Fast food or any restaurant that can't comply with specific dietary specs, Maybe Get rid of Soda, you know diabetes is running rampant. Let's see what else.... Cigs? booze? Lottery Tickets? Any Vehicle exceeding 25k? Homes over 100k? Where do we draw the line? When will people start owning up to there poor choices regardless of there craft/lifestyle? There is absolutely nothing that states that a mechanic must use a specific brand of tools, I just don't get this mentality.

+1. Count me in the camp of folks thats tired of being protected from everything by ***** do-gooders. I can't even enjoy a dip at my desk at work anymore, no tobacco allowed on the premises anymore thanks to our "wellness committee." They claim it will help folks quit, they missed the fact that most of us dont want to.

 

[WhiffySpark]

my guy will let you go with zero if you pay him in a month or so.. no credit stuff. but if you buy something big your better off with your visa card.. snapon will get every dime off you.. the kid in the body shop next door bought a box and is paying almost 20 percent. when all is said and done the 5k box is going to cost him almost 10 k

No it won't. $5k box that's 3 years at $50 a week. About $7800 if he waits it out.

Alot of y'all have no idea what your talking about. You don't pick what you want to pay on a credit account. Well you can but you have to put the money down to get it where you want it lol.

There's also credit rebates that are worth it. 90 days same as cash is good always.

 

[firebox40dash5]

I wonder how many people walk into a Best Buy or a Walmart and ask for the cash discount.

When they let me walk out with stuff without paying with just a hard to enforce credit agreement at shelf price, damn right I will.

My driver wasn't very interested in making deals for cash, at least not on anything remotely low-buck. Then again, he was rather well-off and I don't think he much cared what he brought home today. He'd rather have it to sell to some schmuck at list and have A/R even if he had to chase their money.

But truck credit really isn't "free", in fact if you've got a driver who actually cares about turning his inventory into cash as efficiently as possible (read: gives a good cash discount) it's probably not too far from the feather Indian loan places.

 

[SiGmA_X]

No doubt... While you're at it, Let's get the government to step in and Ban Fast food or any restaurant that can't comply with specific dietary specs, Maybe Get rid of Soda, you know diabetes is running rampant. Let's see what else.... Cigs? booze? Lottery Tickets?

If we wanted to Make American Great again, we probably would get rid of all of that. Now we are just lazy, broke, and fat!

No it won't. $5k box that's 3 years at $50 a week. About $7800 if he waits it out.

That's a pretty substantial premium for Jones'in. As they said in the 70s, cash, grass, or ***, ain't nothin' in life fo' free.

 

[stevenhs]

You will betteroff dealing with Peer-to-peer lending

 

[Certified Drunk]

Cash is King....I get 20-25% off for paying cash.
Was offered a $11k box for $6500.

 

[Aerogt01]

There's a big difference between a industrial rep and a franchised tool truck dealer, I'm surprised the Rep sold outside of the company, trust me I've tried....

I have the number for my previous FIG who sold anything at 25% off list. He said if a local guy couldn't be bothered or I wasn't in a claimed territory he would honor the same prices and I had to cover shipping. Although he was VERY adamant that he would not sell on another's turf.