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Missing Snap On dealer part 2

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GeorgiaHybrid

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I would say F- the guys on the trucks. If you want snap-on deal with them online, not some fly-by-night truck dealer.....what else would you spend that kind of money on...any kind of money on...out of the back of someones car.

The dealers are their own company for all they just sell snap on products...as well as some other stuff. If you want those tools go to the source.

I have news for you, almost ALL the the truck guys that I know (not just Snap-on) have been stand up guys. My current dealer and I are friends and we eat lunch together 2 or 3 times a week. I have never had a problem with him and we even go to the tool conventions together.

Most of these guys are hard working men that will always do riight. There are some however that do get into trouble. Most of those are from 2 reasons, dead beat guys that don't pay their bills or they are not a businessman and forget the money they have needs to be used to pay a tool bill and not buy a new toy.
 

Davefr

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There are some however that do get into trouble. Most of those are from 2 reasons, dead beat guys that don't pay their bills or they are not a businessman.

That is so true. The qualities of being a good businessman/salesman and the qualities of being a good tech are almost at opposite ends of the spectrum.

However so many techs cross over that line with no business being there and get stung.
 

ngk22r

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All I know is that I had 2 bad snap-on dealers in the past, but I dont care about them as it was a personal problem on their half not snap-on. I have a great snap-on dealer now!
 

Vinko

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The product is top notch

the way it is sold used to work

In my experience, which isn't as widely extensive with the automotive tools as others, I'd say the product is top notch, but a few things have slipped. There are better, in some instances, for assembly/industrial work. Totally agree with your second point: I'm not sure that the model is necessarily sustainable to the extent that it once was. I know they've got avenues other than the truck for different types of customers, but it's amazing to me that it seems like the principal market for very expensive tools is those who can't afford them, or for whom it's a very significant investment. In some cases, it's for guys who can't afford to buy them outright. The marketing is brilliant.
 

Vinko

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I sure hope my dealer is not screwed over by this but I see no other way to proceed.

Why? Don't you, at this point, have serious reason to believe that something's not right? Or do you still have doubts that your dealer isn't in the wrong.
 

Vinko

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Now if you wanted toorder something that was a special order only item Imake you put 1/2 down. that rarely happens though. Spec orders are not returnable.
I like for people to paywhen it arrives

I've never paid for a special order when it's ordered. And I think there have been a few times where neither he nor I had "time" to pay/accept for the item.

But what constitutes a special order? I ordered a bunch of sockets and some grip on pliers. They were from regular catalog. Most stuff I order, it's always prefaced with: when it comes in, if you don't like it, I'll be able to sell it anyway.
 

Vinko

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I have news for you, almost ALL the the truck guys that I know (not just Snap-on) have been stand up guys. My current dealer and I are friends and we eat lunch together 2 or 3 times a week. I have never had a problem with him and we even go to the tool conventions together.

Most of these guys are hard working men that will always do riight. There are some however that do get into trouble. Most of those are from 2 reasons, dead beat guys that don't pay their bills or they are not a businessman and forget the money they have needs to be used to pay a tool bill and not buy a new toy.

Don't forget poor record keeping, accounting and all the rest of it. But I suppose this is partly related to buying the new toy rather than paying your own vendor.
 
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Robert Haas

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Why? Don't you, at this point, have serious reason to believe that something's not right? Or do you still have doubts that your dealer isn't in the wrong.

Right or wrong is not the point. If a person is rude to me, I am not rude back. If a person is no longer able to do their job for what ever reason, I have no reason to hurt them further.

This seems to be a case of a whole bunch of "I don't know" and when you got that, it is unprofessional to go to the lowest denominator. I have given the benefit of the doubt to this dealer and have pursued other options by going over his head so to speak. That may turn out to be the correct cours however SO corporate are not very customer oriented. That is why I stated a while back that we the actual users of these tools are not really the customers. The guys with the trucks are the real customers and SO has a vested interest in keeping those customers happy and buying tools by the thousands.

I really like my dealer, until he disappeared I had no real problem with him other then his low inventory and slow order filling. Now that I have lost contact and started looking hard at the SO business model and its support structure I am sort of shaken to the core in regards to how I view the whole ball of wax.

Just an FYI. I have been told by SO customer service that they would call me back in a few hours at least 3 times, they never have and I always have to call them and start from scratch explaining the whole damn thing. That is very frustrating and it looks like I get to do the whole show again today. :(
 

mrholeshot

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Thank You Snap On, I now know how it feels to be toilet paper :thumbup:
I feel the same way, I was a loyal Snap-On customer since the early 70's. Always paid.No tool man ever had to hunt for his money. Then once I retire they forget who you are. I had a Snap-On Corperate account for 15 years. I call on the phone "I'm sorry we don't show you in our records" To many good alternatives to screw with them anymore.
 

chadster1

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I feel the same way, I was a loyal Snap-On customer since the early 70's. Always paid.No tool man ever had to hunt for his money. Then once I retire they forget who you are. I had a Snap-On Corperate account for 15 years. I call on the phone "I'm sorry we don't show you in our records" To many good alternatives to screw with them anymore.

Snap-on Tools and Snap-on Credit are two seperate companies.
 

cherokee140

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I have news for you, almost ALL the the truck guys that I know (not just Snap-on) have been stand up guys. My current dealer and I are friends and we eat lunch together 2 or 3 times a week. I have never had a problem with him and we even go to the tool conventions together.

Most of these guys are hard working men that will always do riight. There are some however that do get into trouble. Most of those are from 2 reasons, dead beat guys that don't pay their bills or they are not a businessman and forget the money they have needs to be used to pay a tool bill and not buy a new toy.

In my experence they are out to pile on debt to guys that make not enough anyway. And they love to pray on the kids. A little story: So here is a guy right out of tech school newly married, making a house payment, and about the same to the truck guy...and he just found out that he and his wife are having their first baby. Yes the guy bought the tools, but they where tools that he did not need, they where just shiny and new, the old craftsman and hand-me-down tools he had did his job just fine, but that SO man fed him such a line of BS about productivity and such that nice new orgnizied tools bring...this kid bought it hook line and sinker. He started doing work for used cars just to make extra money, family life started to suffer and one day he put a bullet in his head.....and you know after all that the SO man went after the ex-wife to get his money and the tools back.
 

padronanniversary

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In my experence they are out to pile on debt to guys that make not enough anyway. And they love to pray on the kids. A little story: So here is a guy right out of tech school newly married, making a house payment, and about the same to the truck guy...and he just found out that he and his wife are having their first baby. Yes the guy bought the tools, but they where tools that he did not need, they where just shiny and new, the old craftsman and hand-me-down tools he had did his job just fine, but that SO man fed him such a line of BS about productivity and such that nice new orgnizied tools bring...this kid bought it hook line and sinker. He started doing work for used cars just to make extra money, family life started to suffer and one day he put a bullet in his head.....and you know after all that the SO man went after the ex-wife to get his money and the tools back.

I feel for the kid and wife, but I am so tired of people blaming others for their financial hardships. That is like buying a house on an interest only loan way bigger than what they need or can afford.

There is always an excuse why one's consequences are someone elses fault. These are not kids that are getting SO credit, these are adults. If they are to immature to handle money, shame on them and their parents.
Fiscal responsibility is a harsh reality of life, but also their own responsibility. And on top of that we even have an out called bankruptcy here in the US

I'm so tired of how people say the "camel joe" on a pack of cigarettes make people smoke, or all that other BS such as SO luring kids on their truck. Its not like they have hot girls working these trucks :)

SO is a business filling a niche, and apparently they have done something right with marketing and making good tools if we keep buying their stuff. Keep in mind, they also provide food for many stand up people like MrShaun and others.

I'm going to get alot of flak for this, and to those people I may hurt by saying this, I apologize about it, but for the guy that shot himself , he is a ***** for not manning up, he took the easy way out and left his wife and kids to deal with the mess.


Ok off my soap box for the day.
 

Red Green

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In my experence they are out to pile on debt to guys that make not enough anyway. And they love to pray on the kids. A little story: So here is a guy right out of tech school newly married, making a house payment, and about the same to the truck guy...and he just found out that he and his wife are having their first baby. Yes the guy bought the tools, but they where tools that he did not need, they where just shiny and new, the old craftsman and hand-me-down tools he had did his job just fine, but that SO man fed him such a line of BS about productivity and such that nice new orgnizied tools bring...this kid bought it hook line and sinker. He started doing work for used cars just to make extra money, family life started to suffer and one day he put a bullet in his head.....and you know after all that the SO man went after the ex-wife to get his money and the tools back.

You have good and bad dealers everywhere this guy sounds like a ********* sleeze. My dealer is a good guy he tells me whats on sale and doesn't try to push me to buy stuff I don't need.
 

Skyline

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and you know after all that the SO man went after the ex-wife to get his money and the tools back.

So? What is wrong with that? In case you did not know it, Snap-on credit, or even truck credit is a SECURED LOAN. The tools are the security. Any unpaid debt passes to the estate.

What do you think would happen if you bought a new car, made a few payments, and then died. You think your heirs would get the car payment-free? If so...think again. (Not withstanding any sort of credit life insurance...which does exist, but not too common.)

I know Snap-on Credit will not give credit to a person who is not credit worthy. But truck credit is the dealer's responsipility to dish out. If he gives credit to a person who is not a good risk, it is his potential loss. But that does not mean that he is not entitled to reposses the tools if the debt is not paid. If someone takes on more debt that he can handle, it is HIS fault, not the creditor.
 

chadster1

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In my experence they are out to pile on debt to guys that make not enough anyway. And they love to pray on the kids. A little story: So here is a guy right out of tech school newly married, making a house payment, and about the same to the truck guy...and he just found out that he and his wife are having their first baby. Yes the guy bought the tools, but they where tools that he did not need, they where just shiny and new, the old craftsman and hand-me-down tools he had did his job just fine, but that SO man fed him such a line of BS about productivity and such that nice new orgnizied tools bring...this kid bought it hook line and sinker. He started doing work for used cars just to make extra money, family life started to suffer and one day he put a bullet in his head.....and you know after all that the SO man went after the ex-wife to get his money and the tools back.

I bet the bank went after the ex-wife for the house payments as well.
 

scott37300

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In my experence they are out to pile on debt to guys that make not enough anyway. And they love to pray on the kids. A little story: So here is a guy right out of tech school newly married, making a house payment, and about the same to the truck guy...and he just found out that he and his wife are having their first baby. Yes the guy bought the tools, but they where tools that he did not need, they where just shiny and new, the old craftsman and hand-me-down tools he had did his job just fine, but that SO man fed him such a line of BS about productivity and such that nice new orgnizied tools bring...this kid bought it hook line and sinker. He started doing work for used cars just to make extra money, family life started to suffer and one day he put a bullet in his head.....and you know after all that the SO man went after the ex-wife to get his money and the tools back.

I agree that the snap on guys want the customers to spend money, what business man wouldn't? But you can't blame him for someone signing papers going into debt. Just because snap on gives you XXXX.** dollars of credit doesn't mean you have to use every penny of it.

When I was 19 I had a good job and bought a brand new F150 and a new jetski. I rented and could afford my bills but knew that I couldn't have much more payments and live comfortably. I went to the bank to get pre qualified for a home loan, was just checking out my options at buying a low price starter home. The bank came back and said I was qualified for 280,000 dollars with NO down payment. I almost crapped my pants, I knew that there was no way I could make that monthly payment. I ended up holding off on the house until I got some of my other bills taken care of. But I could have gone out and bought a really nice house(in my area 250,000 is a really nice new house) and lived like a king for a couple months till I couldn't make payments and they forclosed. Point is-Yes the bank(or snap on in your story) were dumb to give that much credit BUT it is ultimatly up to you to decide how much you can handle in payments each month or week.

The snap on guy doesn't know this kids life story or his check book balance. He is only there to sell him the tools he wants. If I'm in the grocery store and some little old lady is sampling something and sells me a bunch of whatever food she is giving out and I put it on my charge card and go bankrupt is it her fault?
 
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GeorgiaHybrid

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In my experence they are out to pile on debt to guys that make not enough anyway. And they love to pray on the kids. A little story: So here is a guy right out of tech school newly married, making a house payment, and about the same to the truck guy...and he just found out that he and his wife are having their first baby. Yes the guy bought the tools, but they where tools that he did not need, they where just shiny and new, the old craftsman and hand-me-down tools he had did his job just fine, but that SO man fed him such a line of BS about productivity and such that nice new orgnizied tools bring...this kid bought it hook line and sinker. He started doing work for used cars just to make extra money, family life started to suffer and one day he put a bullet in his head.....and you know after all that the SO man went after the ex-wife to get his money and the tools back.

cherokee,

What happened to that MAN (he is an adult, not a kid) was HIS fault. I doubt the tool man forced him to buy the tools. He was young, got married, bought a house and now has a kid on the way. When he put a bullet in his head, did the tool man pull the trigger? NO. He was responsible for his own actions and was the cause for that situation.

There were MANY things he could have done other than that to still live and be there for his wife and soon to come kid. That line of reasoning is what is wrong with this county now, "My problems are someone else's fault, not mine..." and that is a load of BS.

It might sound cruel to say that but it is the truth, don't dance around it, don't sugar coat it and don't blame it on someone else.

As for Snap-on going after the tools, I'm sure the mortgage company wants the payment on the house and I'm sure the other companies they owed money to will either want the cash or the goods back.
 

dankicksass

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My Snap-On guy has been known to disappear from time to time. Money troubles, ex-wife troubles, yada yada yada. Most of my tool money goes to Sears, Advance, Napa or Amazon lately, I know there's a new SO guy just north of here and maybe he'd come by the garage if I asked but right now I've gotta hunt for a guy if I want one.
 

cherokee140

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I feel for the kid and wife, but I am so tired of people blaming others for their financial hardships...

And do we blame drug pushers?

I have said my two bits and will leave it at that.

I will also say I don't care for the SO business model, while I have some of their tools some dating back to the 60's that where family members, and still some of mine from the 70's-80's...so I do use their products.

But as it has come to light here, Snap-On Corp. does not care about the end user...Unless there is a big P.R. Sh!t storm...like this here. The guys in the truck only care about what is in your wallet....Just see how often they come to see you when all you need is new gears in your rachet.

Too many other sources for good quality tools, you can walk into the store and get a new one...Home Depot, Lowes, Sears, hell even Walmart with Stanley. No questions asked, just here is your new screwdriver, they don't care if you used it for a pry bar.
 
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Davefr

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But as it has come to light here, Snap-On Corp. does not care about the end user...Unless there is a big P.R. Sh!t storm...like this here. The guys in the truck only care about what is in your wallet....Just see how often they come to see you when all you need is new gears in your rachet.

SO Corp. has demonstrated more commitment to customer service then many other tool companies. There have been numerous examples on this forum.

The guy on the truck is driven by ROI. Of course he's not going to prioritize the deals with the least potential. That's what sales is all about.
 

plinker

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Some people just dont know when (or how) to say no.

When I've been on the S-O truck it's hard not to buy somthing even without the dealer talking. Self control is another thing, some people dont have any.
 
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chadster1

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says the guy who benefits most from it ... :thumbup:

Sears uses an outside bank for their credit card.

Lowes uses an outside bank for their credit card.

Home Depot uses an outside bank for their credit card.

Best Buy uses an outside bank for their credit card.

I could go on and on.
 
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Robert Haas

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well you boys sure took this thread off to some interesting and non topic directions.

Well I have been in the black hole known as Snap On Customer Service for the last hour.

They now will not be able to do what they said yesterday. (Send me the tools that I showed were back ordered) not until they contact and speak with my rep. This is in spite of the fact I have the invoices generated on my reps truck computer in my hand.

I thought all transactions were downloaded to the corporate servers so as to have an off site back up so to speak.,..Nope. According to the lady I spoke with that is not how it works. They have no actual records from the day to day dealings of their Trucks.

I asked if they had made any contact and was told that was confidential, they would not be able to discuss matters that pertained to them and their representatives out in the field but that I should be patient and let them work towards resolving this.

Now get this, when I pressed and asked how we could get to the finish line as fast as possible I was offered the following alternatives.

1 (the most comical) I could order what was missing from corporate, pay for it and it would ship right away, I would then receive a full refund once they contact and confirm everything with my Rep.

2. be patient and wait, once they had all the details confirmed they could send my missing tools priority shipping and I would be whole within just a few days of them resolving the issues.

3. they would have another rep from my area come meet me, set up my account on his truck and basically start over where he would be "taking over" for my lost rep, however all past due tools and moneys owed will be handled through corporate and the new Rep may or may not choose to be the conduit.


So,......again I am told they would be calling me back in a few hours, that was 2 hours ago:headscrat
 

chadster1

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well you boys sure took this thread off to some interesting and non topic directions.

Well I have been in the black hole known as Snap On Customer Service for the last hour.

They now will not be able to do what they said yesterday. (Send me the tools that I showed were back ordered) not until they contact and speak with my rep. This is in spite of the fact I have the invoices generated on my reps truck computer in my hand.

I thought all transactions were downloaded to the corporate servers so as to have an off site back up so to speak.,..Nope. According to the lady I spoke with that is not how it works. They have no actual records from the day to day dealings of their Trucks.

I asked if they had made any contact and was told that was confidential, they would not be able to discuss matters that pertained to them and their representatives out in the field but that I should be patient and let them work towards resolving this.

Now get this, when I pressed and asked how we could get to the finish line as fast as possible I was offered the following alternatives.

1 (the most comical) I could order what was missing from corporate, pay for it and it would ship right away, I would then receive a full refund once they contact and confirm everything with my Rep.

2. be patient and wait, once they had all the details confirmed they could send my missing tools priority shipping and I would be whole within just a few days of them resolving the issues.

3. they would have another rep from my area come meet me, set up my account on his truck and basically start over where he would be "taking over" for my lost rep, however all past due tools and moneys owed will be handled through corporate and the new Rep may or may not choose to be the conduit.


So,......again I am told they would be calling me back in a few hours, that was 2 hours ago:headscrat


There are legal reasons that they will not discuss their dealings with your old rep. I can understand that. From what I have read in your posts and please correct me if I am wrong is that you have ordered and paid for some tools that you have not received from your rep. You also state that you owe a balance to your old rep. Is the balance that you owe greater than the value of the tools that you are due? If you owe more that the tools, just order what you need and keep records and deduct it from the amount that you owe the dealer.

Can you give us any idea about the amounts you are dealing with and the number of tools you are owed?
 

scott37300

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And do we blame drug pushers?

I have said my two bits and will leave it at that.

I will also say I don't care for the SO business model, while I have some of their tools some dating back to the 60's that where family members, and still some of mine from the 70's-80's...so I do use their products.

But as it has come to light here, Snap-On Corp. does not care about the end user...Unless there is a big P.R. Sh!t storm...like this here. The guys in the truck only care about what is in your wallet....Just see how often they come to see you when all you need is new gears in your rachet.

Too many other sources for good quality tools, you can walk into the store and get a new one...Home Depot, Lowes, Sears, hell even Walmart with Stanley. No questions asked, just here is your new screwdriver, they don't care if you used it for a pry bar.

First let me say that I am not a die hard snap on guy, I have a lot of craftsman and other tools but also have a fair amount of snap on that I have bought all used.

I don't wrench for a living and don't have a tool truck I deal with. I have sent some tools into snap on for warranty, they pay for shipping and get me new tools fairly quick. Is it a pain, a little but not really. I'm not going to chase down a truck just to have a ratchet rebuilt when I"ve never bought anything from him. He has a business to run, if I bought the ratchet from him then I would expect him to repair it, but I wouldn't expect him to stop everyweek to check and see if I need it repaired, I would call him.

Snap on trucks are just like any other salesman, nothing more, nothing less. They are just trying to make a living selling tools. I walk into any store and they are trying to sell me something, but the final decision is up to me weather or not I want to spend my money. The snap on credit(which I've never even applied for) is just a means to offer mechanics tools to get the job done if they can't afford to pay in full. Just like a bank giving a car loan or home loan. Just a means to buy something that you can't pay full but can make installments. They offer it and it's up to you to put your big boy pants on and decide if you can afford the terms or not.
 

Davefr

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well you boys sure took this thread off to some interesting and non topic directions.

Well I have been in the black hole known as Snap On Customer Service for the last hour.

They now will not be able to do what they said yesterday. (Send me the tools that I showed were back ordered) not until they contact and speak with my rep. This is in spite of the fact I have the invoices generated on my reps truck computer in my hand.

I thought all transactions were downloaded to the corporate servers so as to have an off site back up so to speak.,..Nope. According to the lady I spoke with that is not how it works. They have no actual records from the day to day dealings of their Trucks.

I asked if they had made any contact and was told that was confidential, they would not be able to discuss matters that pertained to them and their representatives out in the field but that I should be patient and let them work towards resolving this.

Now get this, when I pressed and asked how we could get to the finish line as fast as possible I was offered the following alternatives.

1 (the most comical) I could order what was missing from corporate, pay for it and it would ship right away, I would then receive a full refund once they contact and confirm everything with my Rep.

2. be patient and wait, once they had all the details confirmed they could send my missing tools priority shipping and I would be whole within just a few days of them resolving the issues.

3. they would have another rep from my area come meet me, set up my account on his truck and basically start over where he would be "taking over" for my lost rep, however all past due tools and moneys owed will be handled through corporate and the new Rep may or may not choose to be the conduit.


So,......again I am told they would be calling me back in a few hours, that was 2 hours ago:headscrat

I don't see that SO Corp. is being unreasonable. I'm sure it's going slower then you want but I believe one of the problems is that your dealer and SO Corp. are 2 unique and seperate business units.

It's not like the sales clerk at Sears who's employed by Sears.

I'd be willing to bet all this works out. It sounds like you're over the hump in terms of getting someone at corp. to work it all out with you.

I bet there are some district or regional sales managers trying to figure this all out behind the scenes.

Keep us updated.
 
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Robert Haas

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There are legal reasons that they will not discuss their dealings with your old rep. I can understand that. From what I have read in your posts and please correct me if I am wrong is that you have ordered and paid for some tools that you have not received from your rep. You also state that you owe a balance to your old rep. Is the balance that you owe greater than the value of the tools that you are due? If you owe more that the tools, just order what you need and keep records and deduct it from the amount that you owe the dealer.

Can you give us any idea about the amounts you are dealing with and the number of tools you are owed?


MY Balance is just under $900.00

Tools owed is a bit difficult to calculate as it deals with incomplete sets such as my long reach screw drivers and line wrenches that the dealer had broken up for other customers and then handed me what was left and ordered the replacement tools to fill them out.

As close as I can figure it out the missing stuff is around $750 or so but I am not really sure.

the remaining incomplete and missing tools consist of a metric 1/2" drive shallow impact set. a set of impact extensions and a feeler guage set.

Still no call from Corporate, and if I was a betting man I bet they don't call, based on their track record in this case anyway
 

chadster1

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Location
Terrell, Texas
It sounds like your dealer was having financial problems due to the fact that his sets were incomplete on the truck. I have seen situations like this before. My advice would be to try and make a list of the individual tools that you are missing so that when someone does contact you to deal with the situation, it will be easier for them to order what is needed. It will take some time but I will bet that in the end, you are made whole.
 

scheu

Well-known member
Joined
Aug 3, 2005
Messages
419
Location
Kansas
MY Balance is just under $900.00

Tools owed is a bit difficult to calculate as it deals with incomplete sets such as my long reach screw drivers and line wrenches that the dealer had broken up for other customers and then handed me what was left and ordered the replacement tools to fill them out.

As close as I can figure it out the missing stuff is around $750 or so but I am not really sure.

the remaining incomplete and missing tools consist of a metric 1/2" drive shallow impact set. a set of impact extensions and a feeler guage set.

Still no call from Corporate, and if I was a betting man I bet they don't call, based on their track record in this case anyway

This sound very similar to what I and couple of my techs went through. SO sent 2 guys from corp. They came and visited everyone on our old SO guy's route that either oued SO money or had contacted SO about tools that were owed. It took a few weeks but they made it right.
 

graffix000

Well-known member
Joined
Nov 23, 2007
Messages
872
Location
Philly
This sounds like a giant nightmare! Shame SO won't step up and make this right and keep giving the run around.

Next time you talk to a CSR and they tell you they will call back, as for their name and extension. If they do give it out, at least you won't have to start from square one every time you call. That would drive me nuts!
 

Skyline

Well-known member
Joined
Nov 11, 2008
Messages
3,586
how convenient.

I have a friend who bought a $35k alignment rack from Snap-on and financed it through Snap-on Credit. This was a at least five years ago, and this rack was a complete POS. Would not stay in calibration for more than 15 minutes. Over about 18 months that my friend had it, it worked about one day in ten. He treatened to stop paying for it, but due to the fact that he owed money to a seperate entity, they would come after him. He took this all the way up the ladder in Snap-on, and all sorts of techs came out to try to fix this rack...to no avail. Finally, he initiated a law suit. Almost immedialty, the tone changed; within a week he had a new, and completely different machine. No problems with the new machine...works great.

Bottom line, the original seller has 100% of their money the minute you sign the loan. While the tool may collatoralize the loan, you are still on the hook, even if the product ends up as defective. Then the ball is in your court to sue for justice, your money back, or a replacement product.
 
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