my mac guy is cutting ties with mac

[bimmer630]

Our guy told us this morning that he's had enough of Mac and where their business model is headed, and in 30 days he's going to be transitioning to an independent dealer.
He mentioned that they are pressuring their sales guys into pushing large finance accounts on young techs with 24% financing etc.. He's all about doing the right thing and doesn't feel like Mac feels the same way.
Anyone else been seeing their Mac guys having problems? I've heard a lot over the last few years

 

[Zrexxer]

in 30 days he's going to be transitioning to an independent dealer.

Not defending MAC, since their predatory business practices have been discussed before - but I've seen a few tool-truck dealers try to go "independent" over the years. Seems like none of them last more than about six months after that.

 

[countryroad82]

My MAC dealer went indy about 12 years back because of slow sales and such. He went under probably 8 or so years ago. Hated seeing it happen to him, he was a great dealer.

 

[bimmer630]

He's been in my area for 30 years and already sells a ton of SK gearwrench and astro etc... I think he will do fine and actually hope he turns into an SK truck

 

[kd3pc]

Not just the MAC guys, I saw it at Edward Jones, and I have seen the same results as Zrexxer, even in the bigger cities, where there are enough buyers/clients/customers. The name recognition, sales support, advertising, tool quality and such are BIG game changers.

Although 24% is tough....it is a tool, that a buyer can use, responsibly, it is ultimately up to the buyer to use that tool, or not. The salesman just has it on offer to a client/customer.

As a sales person, you have to learn that what YOU would do, does not enter in to what THEY might do. OR do like your friend, I admire his principles, but in this case it may be career ending for him. This is a new world we live in.

 

[LUKE221]

Tools these days are getting sooo expensive. Makes sense business wise that financing and predatory lending come with it. This and the high prices will eventually drive more mechanics to purchase more HF or similar. If you become a tech these days, you need to very careful financially before you end up 20k in debt

 

[LUKE221]

I was told that after all is said and done, the average snap on dealer has to start with about 150k just to get started. Based on franchise costs, truck, computer, alarm system etc etc...

 

[LordPsychon]

Real world:

Sheep are for shearing.

Ultimately, without variation, those young men are offered two real, no need to modify for cultural differences anywhere in the world, choices.

Do or Don't.

Your dealer has other problems. One might be saving the world at the cost of his kids/family future.

His case made to quit screams of his own credit problems. The rate is of no concern of his. ANYONE can buy the tools used and negate the interest and 75% of retail AND taxes at the regulative magistrate, city or county or state, rates.

The fact that young men without any other way to purchase tools are shopping on a truck, using the only possible credit afforded to them....

Trucks are predatory on their own regardless of interest rate OFFERED, NOT DEMANDED.

You've heard one, completely self centered and predigested and rehearsed reason for him quitting.


Back to your regular programming....

Though I agree with much of what you said, sometimes young techs don't realize the value of money and think "hey, 24% is kind of bad but I'll make it up later". He may feel that he is setting them up for life long debt.

Now with that said, you're absolutely right that he has a choice to push the sale or not. The tech can buy it or reject it, his/her choice. For the 24% finance to be the main reason for quitting doesn't quite hold water - it may be a tipping point though. He chose to get into the MAC business and he can't possibly think that techs always have enough cash on hand to buy what they need - he has to have been pushing credit lines since day one.

 

[SantaAna12]

I respect people that bring their values to the workplace.

The #1 debt in the US is kids paying recently doubled interest rates for Education.

I guess you would consider them sheep to be sheared?

 

[bimmer630]

His issue isn't with just the credit. I've heard him complaining about Mac changing their designs too often, sourcing tools from China, and other issues. I know there was another Mac truck that had a young kid pushing "the Mac card" on us, and I didn't like the vibe of it all...

 

[kd3pc]

I doubt many tool truck guys paid cash for their setups...? Most have borrowed $$, likely at 6-10% to finance the major portion of THEIR side of things.

Responsible use of credit, regardless of age or on what - is a needed skill. May as well learn at 22.

The decision to use, or not use, is still with the Buyer. And for sure less expensive, decent options are out there, just like with student loans. Just not as "instant gratification" as many want.

Needs vs Wants, tempered by priorities.

 

[ATK305]

Our Mac guy recently went out of business as well. We had all 4 tool truck brands calling on our dealership but a couple of weeks ago our triage mechanic said the Mac guy went out of business. KThe Matco, Snap-On and Cornwell guys seem to be doing okay.

 

[neophyte]

absolutely I do.

No one told them to do it.

I think one of the criteria for a loan must be a written 2 page document of what you think the below average wage for your chosen educational path pays, what the loan payment will be, when the payoff date comes in to play, and how, with your $750 monthly payment, your education is going to put you ahead of a guy who didn't take the loan and makes the same monthly income.

College is often for warehousing people who cannot figure that out.
Sheep are indeed for shearing.
If you want to pay $750 month debt for 15 years to garner a $45,000[insert any amount here that makes you understand what percentage of income that $750 might be]] a year job. bah, bah, bah.

From my experience there are plenty of people who tell high school students to take out debt to pay for college. This included my high school guidance counsellor, who specifically mentioned that if you held up on college after high school there was less money available to help you pay than if you went directly after you graduated high school. This included student loans.

A number of other teachers also mentioned student loans as a good thing. They also mentioned student loans to my parents as a good thing.

The colleges I applied to mentioned student loans in their interviews with me.

The financial "advisers" on the news programs used to routinely mention student loans, and use the phrase "good debt", at least up until the economy went to Sh!t.

If you have experience in life the overabundant might actually send up red flags, but the reason most people go to college is to get life experience.


And yes I do believe you should have to do a hell of a lot more to be able to qualify for thousands of dollars, or tens of thousands of dollars, of debt than have someone put a piece of paper in front of you and have you sign it. Taking a two semester course on student loan law and passing a test on it would be my choice.

 

[Kracin]

Real world:

Sheep are for shearing.

Ultimately, without variation, those young men are offered two real, no need to modify for cultural differences anywhere in the world, choices.

Do or Don't.

Your dealer has other problems. One might be saving the world at the cost of his kids/family future.

His case made to quit screams of his own credit problems. The rate is of no concern of his. ANYONE can buy the tools used and negate the interest and 75% of retail AND taxes at the regulative magistrate, city or county or state, rates.

The fact that young men without any other way to purchase tools are shopping on a truck, using the only possible credit afforded to them....

Trucks are predatory on their own regardless of interest rate OFFERED, NOT DEMANDED.

You've heard one, completely self centered and predigested and rehearsed reason for him quitting.

About him wanting to do the right thing and the company not;
The company could just not offer the credit. Would that be the right thing to do? Deny a tool, and a guy lose his job because of not being able, under the last possible resort, acquiring the tool?

'do the right thing guy' might want to consider loaning those mechanics his personal money. Afterall, that is the ultimate right thing to do....
Because either he does that, or his NEW truck will have essentially the same interest rate on tool loans.




Back to your regular programming....

i think it's more a matter of trust thing, some of the techs obviously consider the tool truck guy a "buddy" of sorts, and if the company wants him to push something he considers a terrible investment to these people who trust him, then i'd say his moral compass is pointing in the right direction.

these same kids can easily run to almost any credit union and get credit cards at lower interest rates, or take out loans in the same amounts for far less. but they certainly don't have bankers coming to their place of work putting papers in front of them and holding shiny tools in the other. it's obvious how much sway the tool dealers have over some of their clientele.

and thats a big assumption to think that he might have huge credit problems if he doesn't want someone else to have credit problems. there are a lot of financial advisors that don't have any credit problems and advocate not getting into bad situations with credit.

but in reality, everybody is a damn expert. even the guy at home depot was trying to sell me a credit card, mind you my lowest rate is 8.9 on my regular card. and he was telling me how he was a personal banker for a while and how great of a deal this home depot card is..... at 22.9%, then he had to tell me how the whole APR deal worked, etc etc.... money lost is money lost, in the end i had to explain how i knew and how that deal is actually a terrible idea for somebody. walked away because he honestly thought that 22.9% card was the greatest thing in the world (probably because he was going to get some kind of work commission, i've seen it before in box stores).

it's all about the person, it's sad that you would assume this guy has problems of his own though, his moral sense tells him not to work with a business model that has thrown keeping clients on for long term vs taking as much as possible right now. the same as voting with your feet, he is doing just that. if you don't like the way someone does business, take your business elsewhere. just because his moral compass points him one direction doesn't mean he's wrong. the same as other peoples moral compass points them to every door without a cross on it. no reason to fault him over standing by his values.

 

[neophyte]

Sheep are ALWAYS told. Then they comply with no thought of their own.
I should have said forced.
No one FORCED them to not consider the consequence.
But:
No one TOLD them to not consider the consequence....

Change it to: forced to take the loan and told to not consider the consequence.
Do we agree fully now?

I agree on a class instead of paper.
A class with an attestation signed stating you accept full fault and ramifications under penalty of prison.

I would like the penalty of prison extended to the college admissions officers and administrators, if it can be shown they lied about the education the student would receive, the facilities that would be offered, and any other areas were dishonesty or "puffery" might be used to encourage a student to attend that college.

Many colleges say or imply things which could be considered lies in order to get students to take out loans to attend their institutions. A high school course on student loan law would help alleviate some of these situations. But colleges are given a certain amount of immunity regarding claims that the education is not what they claimed it would be. Student loans being issued by a third party instead of the institution itself allows the universities to avoid some of the ramifications of deceit towards students.

 

[Nessal]

From my experience there are plenty of people who tell high school students to take out debt to pay for college. This included my high school guidance counsellor, who specifically mentioned that if you held up on college after high school there was less money available to help you pay than if you went directly after you graduated high school. This included student loans.

A number of other teachers also mentioned student loans as a good thing. They also mentioned student loans to my parents as a good thing.

The colleges I applied to mentioned student loans in their interviews with me.

The financial "advisers" on the news programs used to routinely mention student loans, and use the phrase "good debt", at least up until the economy went to Sh!t.

If you have experience in life the overabundant might actually send up red flags, but the reason most people go to college is to get life experience.


And yes I do believe you should have to do a hell of a lot more to be able to qualify for thousands of dollars, or tens of thousands of dollars, of debt than have someone put a piece of paper in front of you and have you sign it. Taking a two semester course on student loan law and passing a test on it would be my choice.

This is why I'm glad that I got my degree before all of this *********** happened. I think I paid 2400 per year as a full time student. I could easily afford that and also the books working full time as well. I feel bad for all of these young kids this day and age.

 

[ducksface]

I forgot about corinthians shutting down.

I'm for student counselors(they are the exact case for low pay and high educational debt and they may subconsciously act upon the misery loves company/I'm sssoooo Grand theory when screwing you over) being regulated as rightly as mortgage brokers and stock brokers. Clear down to perfect credit or you lose your job.

You do continuous and legally binding education or you lose your license forever.

I do not think mortgage guys are much different in sway and wiles than career counselors.

 

[MrJason]

Our guy told us this morning that he's had enough of Mac and where their business model is headed, and in 30 days he's going to be transitioning to an independent dealer.
He mentioned that they are pressuring their sales guys into pushing large finance accounts on young techs with 24% financing etc.. He's all about doing the right thing and doesn't feel like Mac feels the same way.
Anyone else been seeing their Mac guys having problems? I've heard a lot over the last few years

Considering his perception on what's going wrong, he's in a tough place either way. Independent tool trucks rarely work, as they're competing with Amazon.com and every other tool site on the planet- for business.

24% financing isn't a bad thing, if it's being meted to a consumer base that can't find alternative elsewhere. Most startup mechanics, need help. IF they don't have equity to pull from, family loans or bank to provide a signature loan; they were saddled with not having what was needed to get the jobs rolling in.

I won't get into the rhetoric of what other posters have, as I don't have a dog in that fight- but I will say that your driver is in for a challenge either way. Tool trucks are a tough deal, and in our city (oil and ag driven economies) one could use an egg timer to predict when the next driver will drop off.

I say, say a prayer for the guy. He's in-between a rock and a hard place, with either situation. Here's to hoping he can find happiness and his pocketbook once the dust settles. (One specific reason, why tool truck owners should incorporate when becoming a business.)

Jason

 

[Sal Bandini]

This is what happens when someone doesn't think before they act:

 

[ducksface]

What happens when someone doesn't think before they act:

Oddly, that person doesn't mention their second job nor their spouse....
They are, plain and simple, a turd.

 

[Sal Bandini]

I was in grade school in the 70s.

Sal Bandini is a movie character:

http://www.imdb.com/title/tt0217756/?ref_=fn_al_tt_1

 

[Sal Bandini]

Oddly, he doesn't mention his second job nor his spouse....

He's is, plain and simple, a turd.

I don't remember the site I got that from but I think that is a woman.

 

[Dust Devil]

If you are an independent, who do you use for financing?

Personally I pay cash or nothing, but I figure a high percentage of any given tool truck is financed. Without that the truck has not much to offer. Better prices elsewhere.

Have not seen my Snap guy for 3 weeks, used to come every week, and I have tools ordered. I am starting to wonder if he is still in business

 

[Dust Devil]

I don't remember the site I got that from but I think that is a woman.

Yeah, pretty sure that dude is a chick.

 

[kythri]

If you are an independent, who do you use for financing?

Personally I pay cash or nothing, but I figure a high percentage of any given tool truck is financed. Without that the truck has not much to offer. Better prices elsewhere.

Have not seen my Snap guy for 3 weeks, used to come every week, and I have tools ordered. I am starting to wonder if he is still in business

There's plenty of credit companies out there that would work with an independent.

Google "I want to offer credit to my customers" and the links abound. Nothing new. I remember the independent computer stores, stereo stores, tire stores, etc. offering similar stuff 20 years ago.

You could also partner up with a local credit union and have their credit card and line-of-credit applications on your independent truck if you wanted to offer something "better" to your customers.

 

[ducksface]

I'll go a step further with my turd definitive.
If I were whining that much, and had the supposed education that turd does, I would hope to be smart enough to have cleaned up presentable enough that some shallow 'Save a whale', green green green, politically correct because chicks dig it type dot com owner would hire me as the 'my passion is about passion, look at the wretch(but qualified. because, well, we all know my dot com *** is pretty AND smart) I rescued' cause dejour.

 

[neophyte]

If you are an independent, who do you use for financing?

Personally I pay cash or nothing, but I figure a high percentage of any given tool truck is financed. Without that the truck has not much to offer. Better prices elsewhere.

Have not seen my Snap guy for 3 weeks, used to come every week, and I have tools ordered. I am starting to wonder if he is still in business

It might work as a side business for a pawnshop or loan-shark.

 

[davewo]

It doesn't matter whether it's s man or woman because it's safe to assume amyone with that degree would be highly offended you catagorize humans by ***.

"Even though I have a Master of Arts degree in Women's Studies, I'd like to f-up even more and support ocupy wallstreet."

 

[Wamsutta]

I don't know where that 24% came from, tool truck dealers around here always carry their own tool truck credit at 0% interest, but you've got to make substantial weekly payments. Buy an impact gun and you might be paying $20 every week until it's payed off. The smart guys guys keep a balance of $300 or less at any given time.

 

[warmpancakes]

I work with fresh out of college designers who have huge student debt amounts, one graduated from Kettering has 1200.00 a month payments for 15 years, other designer we hired has zero debt from local community college, they make the exact same wages.

 

[Steinmetz]

I was in grade school in the 70s.

Sal Bandini is a movie character:

http://www.imdb.com/title/tt0217756/?ref_=fn_al_tt_1

Bandini Mountain was a fertilizer, made from manure.

 

[Steinmetz]

This is what happens when someone doesn't think before they act:

A testament to the unmarketable "degree".

 

[bsaint]

I wish I was turning wrenches in the 70's in Mac's heyday. My old Mac stuff is so nice.

 

[SantaAna12]

I wish I was turning wrenches in the 70's in Mac's heyday. My old Mac stuff is so nice.

Amen.

 

[kythri]

I don't know where that 24% came from, tool truck dealers around here always carry their own tool truck credit at 0% interest, but you've got to make substantial weekly payments. Buy an impact gun and you might be paying $20 every week until it's payed off. The smart guys guys keep a balance of $300 or less at any given time.

What you're talking about is truck credit. That's a personal loan from the driver to you.

The 24% interest loan is referring to financing supplied by a 3rd party.

 

[Skin]

This isn't uniquely a MAC problem. They all have the same politics. Independant will only work if you have a very strong established client base. You can't compete with online prices, period. At least with the truck brands the product was reasonably exclusive plus you have the commercialization and brand strength.

Product wise MAC is on the up and up compared to just 5-6 years ago.

 

[Rogue1987]

I respect people that bring their values to the workplace.

The #1 debt in the US is kids paying recently doubled interest rates for Education.

I guess you would consider them sheep to be sheared?

Yes. They told me that when I was graduating high school, do the college thing, take out loans, everyone does it.

So glad I didn't. And no one forces people to. Every advertisement you see is telling you to do something, doesn't mean I'm being forced to go out and buy every prescription ***** pill I see a Commerical for!

Sent from my SM-G900V using Tapatalk

 

[SantaAna12]

Yes. They told me that when I was graduating high school, do the college thing, take out loans, everyone does it.

So glad I didn't. And no one forces people to. Every advertisement you see is telling you to do something, doesn't mean I'm being forced to go out and buy every prescription ***** pill I see a Commerical for!

Sent from my SM-G900V using Tapatalk

Are you really going to compare ****** to Education?

What is your stance on payday loans for US serviceman?

You got an analogy for that?

24% is a damn ripoff. Period.

****** my ***.

 

[ducksface]

24% is not a ripoff.
It may be an only shot.
ALL of my credit cards and your credit cards have a similar rate.
Miss a payment and find out.
You signed up for them. You know what the fine print says.

Yes, yes, I know. You don't have credit cards. I know you don't use them, I know you never have.
I know you think with that credit record, of no credit, you deserve the very best rates available. This is a collective you not a specific you, and a pre empt to the guys who will come here with their specifics when we're talking of generalities

 

[Scott r c]

Are you really going to compare ****** to Education?

What is your stance on payday loans for US serviceman?

You got an analogy for that?

24% is a damn ripoff. Period.

****** my ***.

Do servicemen get special treatment? When you borrow you know what your getting.