No way in heck I’d buy $1000 worth of craftsman tools. No way. I have 2 big problems with that set:
1) They just aren’t great tools. Cars are getting harder to work on and craftsman just doesn’t cut the mustard anymore. You need better sockets, better ratchets, better wrenches and screwdrivers to avoid screwing things up. Great mechanics can sense when something is about to go wrong and avoid problems. The rest of us need all teh help we can get.
2) There are a bunch of tools you don’t need. I’d skip the nut drivers, ignition wrenches, obstruction wrenches, 12pt sockets, 1/2" chrome, etc. This set was put together for 69 mustangs, not modern cars.
Here’s my recommendation:
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Sockets and Ratchets: Less is more<O
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Every auto mechanic needs a good 3/8” socket set. Most modern cars are metric, so start there. The best sockets in the world are (arguably) Snap-On flank drive. They are strong, hard, and fit tight. A good socket will flex less, bite harder, and remove stuck fasteners easier and with less dmage to the fastener. If you work on newer cars, race cars, or airplanes, maybe you don’t need these. For everything else, you will benefit from having great sockets. Buy second hand on GJ or ebay in like new condition. Expect to pay $60-80 if you are patient and smart. Alternatives include Koken, Proto, Mac. Williams USA are not equivalent to Snap On. I advise caution in going cheap here.
-Go to the ratchet extremes- very long and very short
The basic set of ratchets comprises the least useful ratchets made. Jump right to the ratchets most of us use all the time. My pick is the Snap On FHLF80. Snap On’s dual 80 ratchet system is simply the best on the market. It has the effect of an 80 tooth ratchet (ratchet in tight spots, low back drag) with the strength of 36 tooth model. At 14” long, you will no longer need a breaker bar; these ratchets are that strong. These can be had for very little money when scratched up (approx. $50). Buy the cheapest, dirtiest model you can find and budget in a replacement handle ($20), and a repair kit ($10 or possibly free). There are other models from Matco or Mac, and even Craftsman and HF. Let the budget decide, but I wouldn’t recommend skimping here. This is another tool you will never regret buying from Snap On. The difference between the best ratchet in the world and a decent Craftsman could be $20-30.
Second ratchet to buy is a 3/8” stubby. Once the bolt is cracked free, you switch to your stubby for speed. Stubbies can operate in areas other ratchets can’t. They also are less mass to rotate so you save time and energy ratcheting as well. You don’t need anything special here. Get the cheapest stubby you can find. I had a flex head craftsman I loved. The flex handle conformed to my palm. You can find previous models of Snap Ons cheap. Budget $30.<O

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-The big stuff
For suspension work, get yourself a set of cheap impact sockets. Look for brands like Sunnex or Grey Pneumatic, but don’t turn your nose up at HF. Impacts are designed to be softer than chrome so they don’t explode when used with a gun. As such, they are prone to wearing out. Only buy new and figure you will replace or upgrade as you go. Budget $50.
Couple these with a long ratchet like the Snap On SHLF80. This thing is a DIYer’s best friend. At 26 inches long, with a fine toothed ratchet, and over 700ftlbs of capability, this is a ratchet that functions like a breaker that you can trust isn’t going to let go. Fine tooth ratcheting makes a bigger difference on long ratchets. When you are pulling hard, you can put that ratchet in your strength sweet spot. These are super expensive, but cheaper than an impact gun. If you have an impact gun in your plan, skip this or buy a cheaper model elsewhere. I bought mine here on GJ for $120. I use it all the time and love it. Long ratchets make the job easier.<O

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Extensions: Get a few "silver bullets"
Only a couple things you need to know about extensions; 1) Not every makers’ extensions fit every other makers’ sockets. Ideally these two components should fit together with no rattle. If you can try before you buy, do that. Otherwise, I have found cheap extensions to be acceptable in the shorter lengths.
Its really nice to have a few “silver bullet” extensions; I highly recommend set of wobbles but wouldn’t pay loads for them ($40) as they are not high strength tools. Pick up a few long extensions (11” and over). These can be back and knuckle savers, but their long lengths are like springs. sp choose a truck tool brand for these. Budget $100 for extensions.
Wrenches: Skip Old-School Tools<O
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At this point in automotive history, I would not rush out to purchase combination wrenches. These are old school, typically too short and with open ends that don’t cut it on hard to reach or really stuck fasteners. Instead, start your wrench set with the tools most mechanics reach for first; a set of high performance Snap On wrenches. These are long, strong, with tight fitting, very thin box ends. They can access fasteners other wrenches can't and offer greater leverage to crack stuff free. Choose the 15 degree set first. You can find them for about $100 on ebay in good condition or better.
Once a screw is cracked free, a ratcheting box wrench will make quick work of it in spots a socket wrench can’t easily access. I would get a set of these, possibly flex head models, but only if cheap. If you don’t use these to crack loose or snug up bolts, you can get away with cheaper brands. Budget $150 for wrenches.<O

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Screwdrivers: We all have 'em, but not always the one we need.
The trick with screwdrivers is having the right length and the right, good condition, high quality tip. Most of us will gravitate toward screwdrivers we have or strike our fancy. There’s nothing wrong with that. But if you want to be smart about it, choose a ratcheting screwdriver system that accepts different length shanks. Couple with high quality bits and replace them as needed when worn. The specialty Snap On ACR bits, and Wiha/Wera diamond tipped bits really work on phillips head screws.
My favorite is the Snap On soft grip stubby, especially when paired with the optional 9” shank. Budget $75 for a second hand Snap On, a selection of bits and an extra shank. <O

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Add another $25 for a couple extra screwdrivers you will need like a large #3 phillips for brake discs, and a big flat head you will inevitably use as a pry bar.
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Pliers: Don't overdo it<O
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I love tools so I have nice pliers, but I don’t really need the world's best pliers. I find my HF long needle nose the most useful just for picking up parts I dropped. The basic set from Snap On is very nice and very useful. Special deals and sales can bring these under $100. But you can do way better. A set of Knipex cobras or a comparable set of channel locks are helpful for hose clamps and other misc jobs. My favorite pliers are duck bills. Their slim jaws and super twisting ability let me grab twist, fold wires, sheet metal, you name it. I would start with cobras, duck bill or needle nose and some sort of cutter and go from there.
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Specialty tools: make life easier
At this point my math puts us under $800 and we’ve made virtually no compromises in tool quality, just narrowed the selection to those tools which are most important and spent more money for better tools where you can reap bigger benefits. If you had $1000 budgeted for tools, you now have $200 to spend on specialty items on an as needed basis.
Specialty tools really make the job easier. Here are a couple items you may need: Etorx socket set, torx and allen bit sockets (Snap On highly recommended), “flare nut” (line) wrenches (Snap On), 1/4" sockets, deep or mid depth versions of all sockets above.
Here are some "why didn't I buy this before" tools: brake bleeder wrenches, mityvac brake bleeder, drum brake tools, hose clamp pliers, pry bars, panel poppers, swivel sockets, test light, led head lamp, magnetic parts dishes.<O
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In my opinion, the tools above would be capable of performing 90% of the tasks a DIYer would most likely attempt.
Above all, I would say having an impact gun greatly increased my ability to tackle a tough jobs. I think I would call it an essential tool for automotive repair. I think I would go so far to say that if you thought you could get an impact on every fastener, you could get away with cheap sockets and ratchets. Unfortunately, that's never the case. In fact, I typically find the one screw I can't reach with the gun is the one that's completely frozen solid. That's the reason for the good sockets, ratchets and wrenches.