CoThG's Toolbox question thread

[2ndGearRubber]

I'm sure they're competent enough to sort the logistics of delivery - but that wasn't a good way for me to communicate my point. There are some very limited Lista offerings on Amazon, but it's significantly more expensive than what my lista/vidmar rep has quoted my company. There is also a very narrow offering of Lista products on there. Lista has tons of CNC/industrial organization for their cabinet ecosystem. My rep has brought thousands of dollars worth in samples to keep and try out over the years.

Let me rephrase my key take away - for the average dude tinkering in his garage who knows exactly what they need/want, you're absolutely right that Amazon has tremendous value. My point is B2B relationships/transactions vary wildly from business to consumer. I have ingersoll (cutting tools, not air tools), mitsubishi, sandvik, okuma, etc. reps in our office pretty much every week. Sure, we can select something from their catalog, but we're happy to have application engineers bring donuts and their expertise. If we ever have a problem, we can phone a friend who'll bring the expertise of their entire organization to our table. This is not often needed, but it's a useful resource to have.

I think this analogy holds true for even a mechanic. We're on this forum because we're tool snobs/enthusiasts and I don't think the average mechanic is anything remotely like us. A tool truck allows a mechanic to have a person to ask "I have X challenge, what do you have, and can you drop it off later today?" Tinkering in a garage without a time constraint is leisure. When you have to calculate the value of your time/shop rate, this time value equation changes your spending strategy. I'm not arguing Amazon isn't needed, but it's not the panacea for tooling purchases.

Most all mechanics I have ever met, see tools as an expense and nothing more. I sit at home happily thinking about a new torque wrench, lab scope, scan tool, carbide burr set. Makes justifying spending much easier. It means little to them aside from basic function to do a job. Things that make life easier are always a plus, but I don't think ROI and payoff are regularly in the thought process.

You can say the same thing for a lot of diagnostic stuff. They want the answer, not the puzzle. The answer is nice, but I want to understand how the circuit is engineered and why, to achieve what result. P0016 - cam crank correlation. Okay, you can probably look at live data and know if the cams are out (depending on make). I want to measure cam deviation with a scope and know which way it is out (adv/retard) and how many degrees. Okay, it's 50 crank degrees out, on the intake cam. If it's retarded, I want to know the degrees per tooth and know how much it's out. If it's advanced, since most intake cams with VVT advance, I want to know system angle range and know if a stuck phaser is on the table. If physical measurements once it's torn down don't match measurements, do we have a shifted trigger wheel? So yeah, P0016, pull the timing cover. Or not? Depends on perspective. I wrote a diag with If/then statements for a p0016 last week. If the timing tools fit, but the trigger wheels aren't in line, your phaser is internally shifted. If the timing tool doesn't fit, we need to reset, then confirm phaser park position is correct when retiming, etc. Probably make better time just selling the tear down, to be fair.


GJ doesn't understand how good they have it. I've done repair work for a few GJ members and it's wild. They'll bring a pile of OE parts with tags from the dealer on them, new dealer hardware, they whole 9 yards. It's just awesome, how you dream working on cars could be. When one goes into a job with tools they wanted to buy to make it easier because they like tools, it's a lot nicer. I could write a book on the relationship between techs and tools. IMO if you're not "into" tools, it's going to cost you money and efficiency as a tech. IMO the only way a mechanic could not care much and just buy to make things easier above a basic hand tool set is in a very specific situation. Sort of the same deal as a pro tech with a double bay box. The only way that works is if the stars align. It can only work if you are working on limited brands, just hand tools alone will swell doing all makes/models. You need to have the shop providing specialty tools, you can't store the volume required in a 56" box to have 20 different timing tools, 4wd hub sockets, fuel pressure testers for a 1960 impala to a 2008 civic, scan tools, lap top, bearing splitters and press tools, etc. Even if you're within one brand this could fall apart if you have to have your own tooling as the shop timing tools are trashed and missing, terminal drag pins are an unlabeled pile, 2 OE scan tools for warranty work for 10 guys to share, but you're on a customer pay and just need data, etc.

 

[mepstein]

With boxes and tools from snap on, the interest is built into the price. So is the warranty.
Of course everyone should do what works best for their own needs. Just don’t think that snap on is doing it for the tech. Their interest is to maximize profits for the company.
My buddy who only buys snap on can afford it. He buys the tools new but buys his boxes from repos. He’s paying 50 cents on the dollar for like new boxes. The rep always gives him a heads up when one becomes available and he pays cash. The rep gets to make a second commission.

 

[dchawk81]

What do you do with a windfall equivalent to a years salary?

Pay off the house? Nah, we're buying a boat.

Don't fish? Can't swim? Who cares. Party in the driveway.

 

[Ricky Joe]

When I started at the tire shop, you got a worn out IR231 which didn't take off 10% of the lug nuts, and a set of chrome sockets. No air gauge, you had to beg and borrow for every car. In 2012 or so I was making $8/hour. Plenty of money to go get a digital tire gauge after taxes. Luckily I lived at home, and was able to double down on tooling. Management tries to make the new "tech" out as the villain, and most guys take the bait. It's the "techs" fault that he doesn't have tools when he was working at best buy selling phones a week ago. Not the employer who hired him with no plan but to leech off others to supply another employee required tools.

Between being trained improperly on purpose to get me fired, as a joke, and punting my craftsman socket kit across the shop for fun, it was just peachy. I must have picked that 150piece kit off the ground a dozen times.


FWIW my current employer gives you a torque stick, and a 1/2 clicker torque wrench for wheels. For everyone to share, 4 people. That's the supplied tools. But they'll let you payroll deduct your own torque stick. LMAO

That is the day I would have quit. I’ve quit for less. I worked night shift at Hatcher Trucking for a while. There were two others and a foreman. I owned a beautiful 1961 Harley-Davidson full dress motorcycle then. Once, I parked it inside the shop because rain was forecast. The foreman said I had to park it outside. I rode out the bay door and out the gate, came back for my tools when I got another job. Anyone who kicked my socket set would have gotten one upside the head. I’m not fractious, but I don’t accept behavior that crosses boundaries. I also worked for Al Salem for a while. A friend of mine, Mike, brought his truck there to have the oil changed and truck serviced. While I was doing that, Mike borrowed a torque wrench from me. Al came up to me and told me I couldn’t lend my torque wrench to a customer, that we lose potential business. I told Al that it was my torque wrench, I paid for it, and I would lend it to whoever I wanted. After that shift, I quit. Once you accept boundary crossing invasive behavior, it seldom improves. I never could accept being treated I respectfully.

 

[2ndGearRubber]

That is the day I would have quit. I’ve quit for less. I worked night shift at Hatcher Trucking for a while. There were two others and a foreman. I owned a beautiful 1961 Harley-Davidson full dress motorcycle then. Once, I parked it inside the shop because rain was forecast. The foreman said I had to park it outside. I rode out the bay door and out the gate, came back for my tools when I got another job. Anyone who kicked my socket set would have gotten one upside the head. I’m not fractious, but I don’t accept behavior that crosses boundaries. I also worked for Al Salem for a while. A friend of mine, Mike, brought his truck there to have the oil changed and truck serviced. While I was doing that, Mike borrowed a torque wrench from me. Al came up to me and told me I couldn’t lend my torque wrench to a customer, that we lose potential business. I told Al that it was my torque wrench, I paid for it, and I would lend it to whoever I wanted. After that shift, I quit. Once you accept boundary crossing invasive behavior, it seldom improves. I never could accept being treated I respectfully.

Yeah, I'm with you, I'm a ******* now and don't play games. I was 20 at the time and wanted, really wanted, to work on cars. I have a pretty high tolerance for toxic work environments in general.


Disrespect is the name of the game in the trades. That's why people end up in fist fights and screaming matches. An improperly run shop can be a massive pressure cooker. Yup, I'm 100% fine to get in a screaming matches in the lobby if you want to steal from my wages, cause I'm gonna call you a ******* theif.

Last walk out I had was "as your manager I command you" being said. LMAO **** you and call the customer, you just bought them another day of down time because I ain't touching it or anything for 24 hours. See ya tomorrow.

 

[Ricky Joe]

Yeah, I'm with you, I'm a ******* now and don't play games. I was 20 at the time and wanted, really wanted, to work on cars. I have a pretty high tolerance for toxic work environments in general.


Disrespect is the name of the game in the trades. That's why people end up in fist fights and screaming matches. An improperly run shop can be a massive pressure cooker. Yup, I'm 100% fine to get in a screaming matches in the lobby if you want to steal from my wages, cause I'm gonna call you a ******* theif.

Last walk out I had was "as your manager I command you" being said. LMAO **** you and call the customer, you just bought them another day of down time because I ain't touching it or anything for 24 hours. See ya tomorrow.

I would not say, “see you tomorrow”. I would pack and go. I’m not there to train people or play games. My last job I quit, the guy over the garage came and said, “ I understand we put a turbo on a truck that didn’t need a turbo”. Had he asked, or been communicative as between equals, I would have explained. I just looked at him and left. That was the result of coworker sabotage. I’ve had that a few times. Once during break a coworker sabotaged an engine I was overhauling. I immediately caught the evidence after the break, so no harm, but certainly an attempt. I also worked at a place where I didn’t take breaks. A guy dropped a transmission on my creeper purposely. I’m not an ***. I never went to work to socialize. I did my job and left. I was exceptionally good and didn’t fool around. That shows up the deficiencies of clock riders and inept mechanics. That don’t make them happy. I’ve had my car sabotaged, tools stolen, jobs interfered with, pressure brought on me to take breaks, creeper destroyed, etc. I never had time to put up with bad management on top of that. I could quit in the morning and be somewhere else in the afternoon. I had a great reputation. Other garages would seek me out to set up rear ends, run overheads, even overhaul engines. One guy had his truck towed from Tennessee six hundred miles for me to do the overhaul. I was also independent, and could never understand why people would tie themselves to one company. I was only as loyal as they were to me. I came to work, not drink coffee and socialize twenty minutes in the morning, take breaks, make friends, etc. so I’d have twenty minutes of work done before the rest got their boxes open. Did it make them look bad? I wasn’t there for that.

 

[anndel]

Ouch

 

[82355]

The thread title is incorrect. That is Snap On Financial's credit rate. The RA (Revolving Account) on the truck is 0% interest. Something you are not getting from Harbor Freight or Amazon.

I financed my first Snap On box through Snap On Financial. The interest rate was insane. I didn't pay them a penny of interest though. I signed the paperwork, got the 10% tool truck rebate, and then took a loan out from my bank at a reasonable interest rate. Paid it off well before it was due, and ended up with a nice box that wasn't falling apart at the seems like my previous Waterloo Magnum.

Martin

 

[zendriver]

The RA (Revolving Account) on the truck is 0% interest.

Let's be honest, borrowed money was never free.

The irony of this insightful thread is that the "time payment", has probably been the mainstay for buying pricey Snap On tools since the great depression.

The difference in past years people were able to make a good enough living with them, to pay both the tools and all their other bills. This was true of most things people purchased on time payments, back in the day.

Now, things are stupid expensive and people pay high fees for "time payments". The OP tool box was $50/mo (even it it was for 100 years) someone making money should be able to handle that, right?

 

[82355]

The OP tool box was $50/mo (even it it was for 100 years) someone making money should be able to handle that, right?

$50 a week.

Martin

 

[Miss the Pontiacs]

 

[ScaryFatKidGT]

I feel like people are quick to jump from SO to HF.

Whats more striking is realizing you can literally buy 4-5 Hazet/Stahlwille/Gray/etc boxes for the price of one of these SO boxes.

In this day of being able to get amazon deliveries same day and premium choices galore online, it just doesn't make much sense to need to maintain and pay for a relationship with another man who happens to drive a truck.

Because a USG box and ICON tools would work just fine. Amazon warranty isn't as easy.

I think the HF box is better built. The Huskys typically use detents to hold the drawers closed, and those don't wear well in that price range. The fix is eventually to raise the front of the box, or use magnets in the back of the drawers to prevent drift. They're certainly not robust, but they'll survive assuming they're lightly loaded - for a while. Slide failure seems to be the main issue with the ones I've seen people work out of. Either the slide itself or tearing from the box on the mounting surface.

I think the smart thing to do is work from a flip-top cart, and use a cheaper box for bulk storage of lesser used items. Saves wear and tear on the box, you don't want to be slamming drawers on that all day to remove sockets and basic stuff.

Husky seems to land a bit under or a bit over USG, my issue with Husky and the key to USG's popularity is Husky changes, USG never does besides the jump to series II, so if 2 years later you want to expland you can buy another and it will match or a side add on will still fit.

I'm talking actually used stuff with dings and dents. Marketplace near me sits them at 1/3 value for usable ones usually. Most just get run into the ground.

It's like cars, Expensive luxury cars tank in depretiation where a Honda Civic holds it's value, but a beat up civic still isn't worth much.

 

[CoThG]

For those of you with a tool truck account, what's your payment interval and payment amount?

What's some of larger tool truck account balances either you or a co-worker have accrued?

 

[KomatsuTech]

For those of you with a tool truck account, what's your payment interval and payment amount?

What's some of larger tool truck account balances either you or a co-worker have accrued?

For your first question- every 2 weeks and 10% of the balance minimum payment.

Question # 2- a little over $400 for me and one of the other guys here had just under $1,000. Not sure about the rest of the techs here. They are either low or no balance.

 

[MooseCustomMotors]

I pay every week wether they show up or not, they can run my card. Whatever my balance is divided by 5 or 10 weeks. Usually 10 but my new Cornwell guy likes 5 week terms. Unless it’s a huge purchase and we agree on something different at the time of the sale.

Biggest Snap On truck account balance was around $3200 at its largest, Matco has been up to around $1300 and have only had a Cornwell dealer for a month and a half and I’m sitting around $400 there.

Edit: I haven’t put anything on actual credit, everything has been interest free truck account. I’ve seen some very big Snap On credit balances.

 

[Sycan]

I usually keep about a $1000 balance on the snap on truck, I believe it's $65 a week. I maybe only call him to stop once a month

 

[Doubled33]

For perspective I have not had a tool truck account in over 20 years when I left the industry.

Snap On and MAC were the most reliable in the area and always there every week with a good selection.

I made 22 bucks a flag hour. Average week was 50 to 60 flag hours plus got another 15 to 20 from my helper. This was in the days of the 7.3 and early years of the 6.0 plus we worked on the F650 and 750 along with L8000 and L9000’s so there was plenty of work.

I spent around 40 to 60 a week on each truck. Paid every week and put some money down on the bigger purchases.

Always had a balance but did not like to have more than 500 open. The only time this changed was when I purchased a SO box. Only regret I have is I did not buy 2 of them.

I amassed one hell of a tool collection that I still have to this day and don’t regret it at all.

 

[stubbsrodandcustom]

I have been out of the industry myself over 20 years also. Back then I was about 500 max open at one time. Always paid it off within 1 month or 2 depending on flag hours at that slow shop workflow. I have some of the stuff still from my days in a shop. I have a friend who owns 4 SO trucks, I can get whatever I want or need pretty easily and now don't have to finance anything. I know some guys back then who had 200 a week payments for Boxes etc. S-O is the Prada of Tools. Ill sit here with my old tools in my HF Us general Box till I find the right new/used box. I have heard stories of guys buying boxes etc, not being able to pay and repo the box and tools, then the tools and box get resold. You can get a hell of a box for a discount this way. When I find the right box I will probably be buying a repo cause the new stuff doesn't do anything any better honestly and Ill take the depreciation that slowpay mcgee couldnt afford.

Best financial advice I have for anyone who works in a shop...... DON'T OVER EXTEND YOURSELF TRYING TO SHOW OFF or keep up with the Jone's. Needs vs wants, work for the needs, when you hit a good lick or have really good months, then start working on the wants.

 

[Jtels85]

I only do business with our MAC guy. The SnapOn guy is more or less a pain in the ***.

Our MAC dealer will let us divide any purchase into no more than 10 payments, no interest. The only exception is if you buy a cart or box, then he runs your credit from what I understand.

I currently have a $450 balance and he runs my card whether I’m able to jump on the truck or not. He was at some MAC expo last week and ran it for me while he was out of town.

My latest purchase was the Expert 126 piece mechanics tool set. I’ve been wanting a set with shallower 3/8” drive deep sockets. The thin combination wrenches are also a plus. It was on sale in the last flier so I took advantage.

 

[Formula]

When I was a kid starting out, I owed snap on just over $10,000. I think I was paying around $100 a week. That was financing through snap on and I’m fairly certain the interest rate was insane, but I was young and dumb.

Now I never go much over $300 - $400 on tool truck credit. They all have my credit card on file and will take $50 a week, or more if I ask them to.

 

[ianguilly]

Anywhere from $50-$125 a week depending on how much I owe. I typically always have 3 accounts between snap on cornwell and mac. They don't care about the 10 week deal I just pay them every week regardless if they show up or not.

 

[BlakeTheCarGuy]

I got myself up to $1700 on Snap-on truck account. I only had to pay $40 per week but decided to opt for $240 every two weeks. Now I pay $0 per week cause their tools are paid for. I also got to $1700 on Matco truck but I’m slowly paying that off $150 every two weeks it helps the wallet a bit more than $240. Mac the highest I’ve gone is $70 lol. Once I get them all paid off I’m going to not run them up that high again. I can afford the payments but I need to save for other things. The Snap-on guy keeps pestering me to buy more lol.

 

[Zewnten]

Had a big purchase on the Snap On and Cornwell truck, each was sitting at $1500 and paying $50/wk. They were good with it and so was I. Now I have no tool trucks, met the new Cornwell guy he's cool. Snap On guy is an idiot, if a tech buys a tool he ships it from Snap On directly to the tech and charges us shipping when no one asked for it so quickly.

 

[2ndGearRubber]

The most I've ever had on a truck credit account was maybe 4k. The most I've ever had on an "real" account with interest and paperwork was maybe 8k? They do differed interest for the paperwork accounts, so I'd take advantage of X% off for financing, then pay it off before any interest. Just like buying a mattress or whatever.

If I have nearly any balance I'll pay a few hundred a week minimum. Or half now, half later. For the 8k example above I just paid $1,000/week for 8 weeks. I have not asked for a minimum payment number I can remember.

 

[AA/FC]

I had a Snap-on truck for several years and I pretty much bought something every week..... could be a $100 ratchet, could be a $600 dollar wrench set. I was never told how much to pay by my dealer but I always chose to pay at least $100-200 per week, sometimes more, sometimes less depending what the current balance was. I never liked to get over $800-1000 dollars and that was rare. I usually kept it around $500 bucks. This was of course the interest free "truck account". I've never had an official credit account with a tool truck.

Honestly, I could've just saved my money and then paid in-full for each of my purchases on the SO truck. However, I was the only guy in the shop who purchased regularly from the dealer and I figured having weekely payments was a good way to make sure the truck stopped by every week.

I never purchased anything from Snap-on that WASN'T made BY Snap-on in the USA. I pretty much only purchased hand tools made out of metal. Ratchets, sockets, wrenches, various hammers, various driver bits, etc. In my opinion the USA made metal hand tools produced by Snap-on are the only tools worth paying their inflated prices. I can buy imported stuff for far less at HF and other brick and mortor and internet retailers.

 

[AJHD]

.

 

[Snapped-off]

My most recent snappy dealer usually owed me money. I think when I moved he was in debt to me for $0.12.

 

[Shoreline_]

I pay $40 a week to Matco, I don't know the balance. Snap-On I get net 30 for my whole balance. And Mac I pay cash because I buy so little. Cornwell is the same.

 

[joel_400]

Never had an actual Snap on account only truck account. I always try to pay around ten percent of the original purchase per week. Never had an account over 1500 myself. Mostly keep under 1000 just for piece of mind. I do like to buy something periodically to keep him coming around though. Many people say our Snap on guy is an a hole, but they never buy anything either. Nice part about staying in good graces is no questions asked replacements and repairs. Heck he's even gave me ratchet parts to fix old ratchets that he knew I didn't get from him. One time he let me clean off his work bench where he repairs them. That pile of stuff is priceless! Detent balls, pins, springs, etc! Had I never bought anything I'm sure he would have told me where to go...he's gotta eat too though. He's a business man who seems to do well with what he does. But I've known some that don't. Just a real bummer that there is so much hate for them.
Joel

 

[jimindm]

Snap On is the only one that stops. I pay $75 a week. I buy till he sort of stops me at that amount. He never has asked for more. I have been as high as several thousand, and I have been paid off.

I try to keep a balance, because he is the only one that stops, and I want to make it worth his time.

Have never really bought much that did not keep the balance with the truck. I know there are rebates and stuff now when buying on SO credit, through the corp. If I did that, I would likely have a plan to pay off in a short time, while still being able to take advantage of the rebate.

Just keeping up with equipment updates, such as scanners and TPMS tools, has a cost.

 

[Odd-job]

Would be great to get a tool truck owner's take on this. Seems like most of the customer underwriting might be based on past customer experience? Curious if balances get large enough if they run a credit check with FICO scores, etc.

There are also probably differences in franchisee "customer direct lending" vs direct financing from Snap On corporate for larger purchases I imagine.

 

[cvairwerks]

Never ran a balance when I had a SO guy stopping at our hangar. I usually left an order sheet with our secretary and a check for 50-75% of the order. The SO guy would pick it up. tell her when to expect it in, and the final cost. I'd leave a check with her for his next visit. Due to my schedule, I'd only see the truck maybe once every 6-8 weeks, in person.

 

[jimindm]

In my experience mine have done a credit check.. I guess not sure how far they actually take the information.

You fill out the application. My guess is they may send it through SO corporate.

I think many use it just for the information it sort of gives a person. How long does one work at jobs. How many has he had over a period of time. How long he has worked at this location.

I think more than anything, it gives them some information to base you on, before they get a working relationship with you.

Running it through corporate would tell them if said customer is on their list, in any way. Owe on tools, locate to another state or such.

Last but not least. I know that my dealers have had to fall back on just information that is included in a credit app. Parents, friends, and references are usually a pretty good place to start when trying to get back unpaid items. Not everyone will protect a dead beat.

I know of several cases that the dealers have went after people to find that they are nowhere to be found. Been evicted and such. But a parent has the box or whatever he is looking for. Stored for the deadbeat. Most are willing to give up the person, or at least what they owe on.

 

[richfinn]

Long time ago I bought a Snap-On MT2500 for £1000 and paid £25 per week, still use it on older vehicles sometimes, I was the "go to guy" for engine warning lamps from that point on in our workshop. One of the best tools I ever purchased from a tool truck

 

[f121]

Monthly, or when the snap on guy shows up, whichever is longer. I get paid monthly, so the guy is fine with me paying 4-5 weeks worth in one go, but in reality I normally pay somewhere between the balance and 1/3 the balance depending on how much it is. Think the most I've ever hit was about $900, which I paid over 7 months...$350 month one, $350 month two, then the guy went AWOL and got the balance when he finally showed up.

I have used snap on credit for my box, but then noticed the interest rate on the statement, so laughed and paid it off, rather than paying 20% interest.

 

[MooseCustomMotors]

Please tell me this wasn’t a truck account and you did actual credit? 40 weeks to pay off a balance is kinda crazy. That’s pretty much ******* the tool guy right there.

Edit: not sure why it didn’t quote but this was directed at the 1000/25 a week snap on post a couple above.

 

[BarrelRoll]

I'm currently paying the crack dealer $350 a week, $250 towards my tool box, $100 towards my truck account. My truck account is around $1,500. I try and keep my truck account at or below $1k-$1,500, I've got some stuff on order that might push that up a bit though usually by the time stuff finally arrives it's back down to $1k or less. 3 of the 4 pieces for my tool box came in so I took delivery, I owe $7k on the box, I may pay it off on day 89 to avoid all interest. Minimum payment on my box is $36.41 per week, no way am I dragging that puppy out for 5 years. My account auto pays every Friday, I see my dealer once or twice a month when I'm in town, it takes a boat or chopper to get to my workplace. My snapon guy never requires any money down when buying things on my truck account though I'm a pretty steady customer.

 

[richfinn]

Please tell me this wasn’t a truck account and you did actual credit? 40 weeks to pay off a balance is kinda crazy. That’s pretty much ******* the tool guy right there.

Edit: not sure why it didn’t quote but this was directed at the 1000/25 a week snap on post a couple above.

Revolving Account, I don't do interest. I had bought a lot of stuff off the guy previously.

 

[2ndGearRubber]

I'm currently paying the crack dealer $350 a week, $250 towards my tool box, $100 towards my truck account. My truck account is around $1,500. I try and keep my truck account at or below $1k-$1,500, I've got some stuff on order that might push that up a bit though usually by the time stuff finally arrives it's back down to $1k or less. 3 of the 4 pieces for my tool box came in so I took delivery, I owe $7k on the box, I may pay it off on day 89 to avoid all interest. Minimum payment on my box is $36.41 per week, no way am I dragging that puppy out for 5 years. My account auto pays every Friday, I see my dealer once or twice a month when I'm in town, it takes a boat or chopper to get to my workplace. My snapon guy never requires any money down when buying things on my truck account though I'm a pretty steady customer.

While I'm sure it's a massive inconvenience, requiring boat or helicopter to reach your workplace sounds pretty cool.

 

[2ndGearRubber]

Would be great to get a tool truck owner's take on this. Seems like most of the customer underwriting might be based on past customer experience? Curious if balances get large enough if they run a credit check with FICO scores, etc.

There are also probably differences in franchisee "customer direct lending" vs direct financing from Snap On corporate for larger purchases I imagine.

You will see a "hard pull" on your credit report if you file paperwork for a snap on credit account, the official interest charging type. It will show up on a credit report like applying for a loan would. Upon completion it will have a listing of completed on your credit report, and the account status as closed.

I've seen people use it to build or repair credit before. And so long as they pay, it will do so. Works great for people who can always make a payment but never save a dollar. Yes they pay interest on a product with built in truck account payments already in the price. But if you have a 350 credit score one may not have a lot of options to try and fix that score.