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Craigs List Item Warning

Skyline

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http://cnj.craigslist.org/tls/1102826244.html

Went to see a collection of tools today. Aside from being overpriced, I called Matco with the serial number, and it turns out there is a lein of over $7k on this box, (which is more than I would have offered.) The guy selling the box was also not the fellow who owed the note. So beware of this box (NJ Shore Area):
Yellowbox.jpg
 
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Skyline

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if he owes 7000. on the box how much on the tools in it.

From the explanation I got, the owner supposedly traded in a box, and was given $3k for the trade. Then he put another $2k on credit to get this box used from Matco. I think what happens is that all the other tools he bought get tacked onto the same credit line, and now the total is over $7k; the box had some nice Matco stuff. But the lein stays on the box until the whole note is paid, even if he's more than paid the $2k that he still owed on the box itself.

Bottom line....you'd have to be nuts to buy a box with a lein still in place...unless you paid a price that included paying the lein off. These tool companies are not fussy; they will take anyone's money to pay off a box.
 

bmwpower

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So if you bought the box off of him, and he never paid it off, I guess they might come after you a reclaim their box eh? Never thought of that...
 

Danglerb

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Several threads, zero solid legal advice.

This sure isn't some, but .... Ever notice that car companies are on their own dime paying for repossession of cars? For a lien to be effective there has to be some enforcement of the terms, and given the lack of any public records that could be checked on the ownership or liens present on a box, could be the lien doesn't mean squat.
 

-B-

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There is only a lien on the person not the box of course if you call and want warranty you will get hassled as the company now knows they were beat.
 

Snappy

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Funny looking Mac box.......guess it was rebadged by Matco ? :lol_hitti
That whole deal seems pretty fishy. Good idea about getting the serial # though :thumbup:




http://cnj.craigslist.org/tls/1102826244.html

Went to see a collection of tools today. Aside from being overpriced, I called Matco with the serial number, and it turns out there is a lein of over $7k on this box, (which is more than I would have offered.) The guy selling the box was also not the fellow who owed the note. So beware of this box (NJ Shore Area):
Yellowbox.jpg
 

kythri

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Dumb question - do tool boxes have titles? Is that what they're putting a lien against?

I'm just curious how they're able to enforce anything other than an owed debt?

If I go get a Sears card, for example, and buy a lawn tractor, and then ignore the debt, they can't come repo my tractor, they can only pursue collection through "normal" means - collection services, pushing for a judgement, etc.
 

back2class

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DUMB. The debtor is responsible just like things he may have purchased via credit card. It is not a car.
 

wantedabiggergarage

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Several threads, zero solid legal advice.

Hopefully, since no one here, to my knowledge, is a lawyer. I've only given legal advice once, and that was to a lawyer I have done some work for. I told him to get a prenup.

Dumb question - do tool boxes have titles? Is that what they're putting a lien against?

I'm just curious how they're able to enforce anything other than an owed debt?

No titles to my knowledge, but there IS a difference, between a secured debt (credit) and unsecured debt (credit). Kind of like having a prepaid credit card, verses a regular credit card.
 

kythri

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Are the tool-truck credit lines secured in that manner?

I've got absolutely no experience with them, but I figured from hearing how many people go deadbeat, that it was an unsecured credit line.
 

Lookin4'67Galaxieconv

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That's not true, the financing is with a secured loan and the boxes do have serial numbers.

Thank you, Diesel Mech. Unfortunately, the same characters from those other threads about this (esp. back2class) seem to think there's no problem buying a toolbox with a lien on it. Because it's not a car, then there's no problem right? Because nobody gets a loan for anything other than cars in back2class' world.

Secured loan means the collateral is the box. Why do you think there's serial numbers on there?

You buy a box that's not paid for...and you have no intentions of paying the balance...that's basically buying stolen property.

How hard is that to understand? :headscrat
 

wantedabiggergarage

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Are the tool-truck credit lines secured in that manner?

I've got absolutely no experience with them, but I figured from hearing how many people go deadbeat, that it was an unsecured credit line.

Yes, The worthless employee, the garage had (relative of the owner), HAD to have a huge Snap-On box. Then kept borrowing my stuff, to try to fill it. Snap did try a couple of times to get me to be a seller, and I know multiple truck people, including a retired Snap-On guy. HIS comment, was the local toolbox default rate was 75%. Don't know if that was him personally, or the region.

Why I still would rather have a wood box, filled with quality tools. Let the steal the high end (empty) box, and I can keep working.
 
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Lookin4'67Galaxieconv

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http://www.garagejournal.com/forum/showthread.php?t=28118&highlight=tool+box+lein&showall=1

Post #22 by daveblank

Quote:
Originally Posted by Diesel-Mech
Tool boxes are bought under secure loans and the boxes have serial numbers, Its not worth the risk and if you think the tool company's wont come collect their box you are mistaken.

You are exactly right.

To the original poster. You need to get the serial # & contact Matco. Option #3 on the automated answering service. Find out exactly how much is owed. You need to make his payment to them. Do not trust the seller.

If you buy the box & it's not paid for Matco has the legal right to take it from you & they owe you nothing.
 

TangoFoxTrot

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To me, the tool box lien situation is more of an ethical issue than a legal one.

It's VERY difficult to really find one of these boxes once it's been sold. If you bought a tool box for cash that had an unpaid lien on it, there's a 99.9% chance you'd get away with it. The only way I could see someone getting "caught" would have to be a situation where the tool truck dealer who originally sold the box recognized it. It's not like the tool truck dealers send people out to inspect everyone's tool box serial numbers. I also doubt law enforcement would even get involved since it's a civil case regarding debt, Cops aren't repo men. They would look at it more as an issue between the creditor (Matco) and the debtor.

In my eyes, though, it is stolen property, but then again, you could also make the case of, "What if the person bought the tool chest with his Visa credit card, and never paid off the credit card. Is the property than stolen?" My guess is a lot of the stuff up for sale right now was bought on debt that people have no intention of ever paying back, whether it was on credit cards or a second mortgage.

There's enough good deals out there right now that it's worth waiting for a legit deal. I would pass on anything fishy just to have a clear conscience.
 
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nissan_crawler

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Dumb question - do tool boxes have titles? Is that what they're putting a lien against?

I'm just curious how they're able to enforce anything other than an owed debt?

If I go get a Sears card, for example, and buy a lawn tractor, and then ignore the debt, they can't come repo my tractor, they can only pursue collection through "normal" means - collection services, pushing for a judgement, etc.

Completely different. Your credit was used solely to get that tractor. Sears has their money, the tractor has been paid for, your card has not been. Semantics, but that's how it is. The toolbox has NOT been paid for. It is not based of your credit, and it is not a credit company paying SNap-On in full, and you owing the credit company. The box is not paid for until the day you pay off the loan.

In my eyes, though, it is stolen property, but then again, you could also make the case of, "What if the person bought the tool chest with his Visa credit card, and never paid off the credit card. Is the property than stolen?"

Again, completely different. If you paid for it with a VISA, it would be yours, whether or not you paid off the card. It wouldn't be stolen. However, the debt you owe to VISA is still owed.

You guys are forgetting, once you buy something with a credit card, IT IS PAID FOR, whether the card is paid for or not. If you buy a $3,000 tv on your VISA, pay them $1,000 and then quit paying, you OWN that tv. You also own $2k of debt to VISA, but the tv is yours, it has been paid for.
 

back2class

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It is not secured debt if the box was legaly transfered to the first owner. I do not recall tool companies giving a rent to own style contracts with boxes last I checked. It is a line of credit and just like any tool purchased by folks with credit. It can be reposessed in a judgment but it is not "secured". The box owner can sell it at will since he is the legal owner, but he will still owe the debt. If....and that is a big "if" the creditor believes fraud was intended then it could be possibly become criminal fraud, though no detective or prosi office would bother to even get involved. Only then it could be considered stolen and new owner would loose his box. Simply put it will NEVER happen....though it is pretty cruddy to be a party to stiffing a creditor.

People need to relax and stop inventing stupid "what iffs" that either make no sense or have a one in a mill chance of happening.

The tool companies have credit corps in house or outsourced...it is JUST LIKE a CREDIT CaRD PURCHaSE.......
 
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autoace

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So if you bought the box off of him, and he never paid it off, I guess they might come after you a reclaim their box eh? Never thought of that...

I don't think so, tech credit is like a credit card. You owe the money no matter what you do with the product. I don't think they could repo a box bought legally, they would have to chase down the original person they gave credit to.
 

kythri

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Completely different. Your credit was used solely to get that tractor. Sears has their money, the tractor has been paid for, your card has not been. Semantics, but that's how it is. The toolbox has NOT been paid for. It is not based of your credit, and it is not a credit company paying SNap-On in full, and you owing the credit company. The box is not paid for until the day you pay off the loan.

I just read some big fawning-over-Snap-On article (you know, the kind that gives Snap-On credit for inventing the ratchet/socket-wrench?), and it interviewed a dealer who was talking about two types of credit - one being the truck credit, where the dealer extends it (a lot of the time to people who couldn't get credit anywhere else), and another being the financing for people to buy bigger stuff, like boxes or electronics.

Seems that the latter would be based on your credit. I thought Snap-On dealers ran a credit application for the big stuff...
 

daveblank

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It is not secured debt if the box was legaly transfered to the first owner. I do not recall tool companies giving a rent to own style contracts with boxes last I checked. It is a line of credit and just like any tool purchased by folks with credit. It can be reposessed in a judgment but it is not "secured". The box owner can sell it at will since he is the legal owner, but he will still owe the debt. If....and that is a big "if" the creditor believes fraud was intended then it could be possibly become criminal fraud, though no detective or prosi office would bother to even get involved. Only then it could be considered stolen and new owner would loose his box. Simply put it will NEVER happen....though it is pretty cruddy to be a party to stiffing a creditor.

People need to relax and stop inventing stupid "what iffs" that either make no sense or have a one in a mill chance of happening.

The tool companies have credit corps in house or outsourced...it is JUST LIKE a CREDIT CaRD PURCHaSE.......

With Matco it's a secured debt loan. One of the items that is signed is a Master Agreement. In this agreement it spells out the terms. The box belongs to Matco until it is paid for.
 

Junkman

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With Matco it's a secured debt loan. One of the items that is signed is a Master Agreement. In this agreement it spells out the terms. The box belongs to Matco until it is paid for.

I guess that is why most funeral directors want to be paid in full before they put you and the casket into the ground... :lol_hitti
 

global72

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I have posted about this a bunch of times. When I was with MAC I picked up a few that I owned that people sold. Was not hard at all.

Regardless of the various laws etc why would you want to involve themselves in a legal mess like that?

All the legal nonsense aside: A guy borrows money for tools and box. Does not pay for them and sells them. If a person knowingly buys them - basically knowingly buys stolen property - If later in life anything ever gets stolen from that person can they complain? Or do they just shrug and say oh well that is just how the world works with the same casual attitude they have when they buy stolen things.
 

Lookin4'67Galaxieconv

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With Matco it's a secured debt loan. One of the items that is signed is a Master Agreement. In this agreement it spells out the terms. The box belongs to Matco until it is paid for.


I have posted about this a bunch of times. When I was with MAC I picked up a few that I owned that people sold. Was not hard at all.

Doesn't matter what you tell some of these guys...and I think it's pretty easy to figure out who I'm talking about. They're gonna believe what they want, even when people who have worked for these tool companies tell them what the deal is.
 

trackwelder

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A few weeks ago my brother asked me to go with him and look at a matco 5s box. When looking at the box I noticed that the serial number decals where missing. I asked him what happened to them and he said they fell off. This guy had no paperwork or anything for the box so we walked. I suppose with the Id stickers gone there would be no proof as to what box it is or if there is any money owed on it, but I sure as hell would not want anything to do with it.
 

daveblank

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A few weeks ago my brother asked me to go with him and look at a matco 5s box. When looking at the box I noticed that the serial number decals where missing. I asked him what happened to them and he said they fell off. This guy had no paperwork or anything for the box so we walked. I suppose with the Id stickers gone there would be no proof as to what box it is or if there is any money owed on it, but I sure as hell would not want anything to do with it.

There is a hidden set!
 

kythri

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Doesn't matter what you tell some of these guys...and I think it's pretty easy to figure out who I'm talking about. They're gonna believe what they want, even when people who have worked for these tool companies tell them what the deal is.

Are these the same guys working for the tool company that come up with their own creative interpretations of the warranties? Yeah, I'm going to trust THEM.

Obviously, if the debt is secured, and the original purchase signed a contract, he's illegally selling the box.

However, you accuse the purchaser of that illegitimately sold box of theft? That's bogus.

If I buy a Matco box on my American Express, then stiff American Express, and sell my Matco box, is the buyer still a thief?

It's all semantics. The real criminal and lowlife is the dirtball who bought the stuff on credit and refused to pay.

You should be educated people about the potential legal liabilities of buying secured property, and not calling them out for the crimes of the original purchaser.
 

TangoFoxTrot

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Completely different. Your credit was used solely to get that tractor. Sears has their money, the tractor has been paid for, your card has not been. Semantics, but that's how it is. The toolbox has NOT been paid for. It is not based of your credit, and it is not a credit company paying SNap-On in full, and you owing the credit company. The box is not paid for until the day you pay off the loan.



Again, completely different. If you paid for it with a VISA, it would be yours, whether or not you paid off the card. It wouldn't be stolen. However, the debt you owe to VISA is still owed.

You guys are forgetting, once you buy something with a credit card, IT IS PAID FOR, whether the card is paid for or not. If you buy a $3,000 tv on your VISA, pay them $1,000 and then quit paying, you OWN that tv. You also own $2k of debt to VISA, but the tv is yours, it has been paid for.

I understand that with a credit card, the seller has been paid in full, but regardless of the legal way the debt was structured, I really don't see the moral difference between someone selling a tool box with Matco's unpaid debt (which is probably structured through a 3rd party finance company), or someone selling a tool box bought with Visa's unpaid debt.

If you buy a new car at a dealership and finance it with your bank, the dealership has been paid in full. If you stopped making payments on it, and sold it for full price to someone else without paying off the loan, it would of course be considered stolen and immoral. It's really no different ethically compared someone who buys something with a credit card, sells it, and never pays off the credit card. The only difference is with the car, the law will be after you because the merchandise is more easily traced and recorded with the state.
 
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TheToolMan

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Now Dave you cant go and tell us there is a hidden set of numbers without telling us where it is. If i had to take a guess you take out the top draw and stick it up on the top panel
 

Lookin4'67Galaxieconv

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Obviously, if the debt is secured, and the original purchase signed a contract, he's illegally selling the box.

Okay, thank you for recognizing that. There's others on here that don't seem to realize that.

However, you accuse the purchaser of that illegitimately sold box of theft? That's bogus.

If you buy a box that's wayyyyy below market value and you have reason enough to believe that there is something fishy about the whole deal, then a reasonable case can be made that you should've known you were potentially buying stolen property. And b/c these boxes have serial numbers, and you know the procedure now...call the manufacturer and see if there is a lien or not on the box, then you have no excuse.


If I buy a Matco box on my American Express, then stiff American Express, and sell my Matco box, is the buyer still a thief?

I've never heard of anyone buying a Matco box on AmEX. This thread isn't about people who buy boxes like that though, it's about people who get secured loans with the box manufacturer, then sell the collateral without paying off the loan. If you did buy a box on a credit card, then sold the box rather cheap, the buyer could contact the manufacturer and find out the box has been paid for. Then he could buy the box with the knowledge that he wasn't buying stolen property. And you, the seller, would have to deal with AmEX about the balance you owe them. But the manufacturer of the box would be paid in full.

It's all semantics. The real criminal and lowlife is the dirtball who bought the stuff on credit and refused to pay.

So you think it's perfectly fine for YOU to buy a toolbox at a huge savings from that dirtball who still owes money on the box to the manufacturer of that box...but YOU have absolutely no intention to pay the remaining balance due on that box?

It's been established that mechanics don't buy these boxes on a regular credit card where the box is paid for and it's between them and the CC company. Rather, they sign a loan agreement with the manufacturer, and the collateral is the box itself. So don't give me the CC argument, b/c it doesn't apply here.

Yes, I guess it is semantics. The semantics of defaulting on a loan and selling the collateral vs. the semantics of buying stolen property. :shocking:


You should be educated people about the potential legal liabilities of buying secured property, and not calling them out for the crimes of the original purchaser.

You still don't get it...if you benefit from the original purchaser's crime of selling something he DOESN'T LEGALLY OWN YOU ARE PROFITTING FROM HIS CRIME.
 
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kythri

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If you buy a box that's wayyyyy below market value and you have reason enough to believe that there is something fishy about the whole deal, then a reasonable case can be made that you should've known you were potentially buying stolen property. And b/c these boxes have serial numbers, and you know the procedure now...call the manufacturer and see if there is a lien or not on the box, then you have no excuse.

When it comes to truck-brand tools and boxes, "market value" is a concept that's worth everything I flush down the toilet on a regular basis.

If I see a "deal" on a box, my first thought is "here's someone who's not an idiot, and not trying to **** me on the price of a toolbox".

Prior to this thread, I didn't know jack about the serial numbers, and being able to call up the manufacturer. I figured the stuff was bought on a standard unsecured credit line. So far, all I "know" from this thread is that's how Matco does it. I haven't seen any claims that this is what Snap-On or Mac do.

Further, there's no "reasonable case" to be made - if someone is selling an item on a public forum, the "reasonable case" is that "reasonable" people don't sell "stolen" merchandise, and I have no obligation to start tracking down world+dog to find out.

Were I to have made the mistake of buying something like this, and someone tried to come repo it from me, I'd tell them to take a hike, and collect their pound of flesh from the dirtball who actually stole it from them.

Only if they're buying it off a seller that still owes money on the box, and it's pretty unlikely they're going to take American Express.

I was referring to buying the box from the dealer with AmEx, not from the criminal tool-truck-tool-buyer.


So you think it's perfectly fine for YOU to buy a toolbox at a huge savings from that dirtball who still owes money on the box to the manufacturer of that box...but YOU have absolutely no intention to pay the remaining balance due on that box?

*I* didn't make any deal with a tool truck finance company. *I* am not under any legal obligation to pay off someone's debt. Show me the contract that *I* signed.

It's been established that mechanics don't buy these boxes on a regular credit card where the box is paid for and it's between them and the CC company. Rather, they sign a loan agreement with the manufacturer, and the collateral is the box itself. So don't give me the CC argument, b/c it doesn't apply here.

So, it's like a hate-crime. If you harm someone who looks like you, it's not as bad as harming someone who looks different?

Theft is theft, deadbeats are deadbeats. There's no gray area here.

Yes, I guess it is semantics. The semantics of defaulting on a loan and selling the collateral vs. the semantics of buying stolen property. :shocking:

You still don't get it...if you benefit from the original purchaser's crime of selling something he DOESN'T LEGALLY OWN YOU ARE PROFITTING FROM HIS CRIME.

SARCASM ON.

No, I get it. What I take away from this thread is that people who buy tools on credit from tool truck dealers are deadbeat slime, and therefore, I'll completely avoid buying tools from the deadbeat slime who bought tools on credit from tool truck dealers - you know, since we're painting everyone with the same broad brush.

BTW, is the grocery store where the original purchaser buys his groceries with the money I gave him for the toolbox profitting from his crime?

SARCASM OFF.

Seriously, though - it's NOT the same thing, and the Craigslist buyer shouldn't be obligated to jump through these hoops.
 
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Skyline

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Hey Galaxie,

You make some very valid points. But as far as the price being too low, and leading to suspicion, that was not the case here. The seller was asking for more than I feel was market price.

And that seems to be the norm; there are 100X as many boxes floating around on Craig's List and eBay where the seller wants an amount way over market as compared to boxes sooo cheap you might suspect they are hot. Most techs who buy very expensive boxes think they are making in investment in a quality box that will maintain its value. But a Tool Truck roll cab depreciates faster than a Rolls Royce. The minute it's delivered it looses half its value, and goes down from there.

In most cases, you will NOT have a "Too good to be true" price to warn you that something is amiss.
 
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