question about snap on account

[Snakebyt]

was wondering if i can buy online and put it on my snap on account? from my local dealer, i have to purchase $300 or more to have it put on my account, if its under 300 it goes on my truck account, Truck account is paid off and i want to try to keep it that way. Would rather just have 1 payment.

Also, i dont want to cut out my dealer, he has always went out of his way to take care of me, so i would like to take care of him as well, but for a couple of small things here and there, i wont feel too bad about it. But as a truck driver/owner, would that offend him that i went directly to the website to buy?

 

[Iroc-Z]

I am guessing you have a snap on account for a tool box or one time purchase of a bunch of tools. I don't think you can add to it. Do you need this $300 dollar tool immediately? Just save up and order from your dealer when you have the money.

 

[Iroc-Z]

Most tool dealers will do $20 bucks a week for truck accounts as long as the account is not out of hand

 

[kythri]

Isn't the truck account typically interest free, while your Snap-on Credit account charges interest?

 

[Wamsutta]

Isn't the truck account typically interest free, while your Snap-on Credit account charges interest?

He said his driver doesn't do truck credit when the item over $300.

 

[JohnDeere1]

Have the driver order it all its a no brainer

 

[Bobioz1]

He said his driver doesn't do truck credit when the item over $300.

That's not how I read it.

 

[Snakebyt]

sorry if my first post wasnt clear.

I have an actual snap on account, and can add to it whenever i want to, as long as i spend 300 or more.
But for instance i need a couple small things, like $125 worth, i cant add that to my actual account, instead it goes on my truck account. so that means i will have 2 weekly payments, one to actual account and one to my truck account, I would rather just keep it all on one account.

what i was asking is if i want to order a couple of things totaling $125, can i order them online and put them on my actual account thus eliminating putting it on my truck account and having a second weekly payment.

and you are correct, truck account is interest free

i am just trying to avoid having 2 payments every week.

 

[Wamsutta]

Does your Snap-on account have a credit card number? If so, try entering that into the box when you check out.

 

[Snakebyt]

dont think it has a credit card number, but rather an account number

 

[Wamsutta]

Whatever the account number is, it should pop up when you log into their website. I'm sure they want to make it as easy as possible to buy stuff.

 

[Sco Deac]

Won't you be paying full price through the website? Depending on what it is you may better that through your dealer.

 

[apollo11]

He said his driver doesn't do truck credit when the item over $300.

He *****.
Get it somewhere else. Anywhere else.

i am just trying to avoid having 2 payments every week.

That really is kinda lame. Why pay interest if you don't need to? Even if it's only on 125.00?

What are you buying?

 

[Wamsutta]

apollo11, that last quote you did is not mine; it's the OP's.

 

[Olson Boy]

Why will he not put it on your Snap On credit account? I could buy anything from my guy and just tell him to roll it over from the truck account to credit and he'll do it.

 

[apollo11]

apollo11, that last quote you did is not mine; it's the OP's.

Oops, sorry.

 

[mbshop]

I always had two accounts. Never seemed to be a big deal at all. Mac or snap on guy shows up, I give them $$$$$$$ to cover the accounts and done. That is one payment.

 

[WittHay]

I always thought of the truck account as a interest free credit card. The Snap-on extended credit (EC) loan account is a high interest bank loan.

When you add say $500 to your EC account, your dealer in a way cosigns that loan or vouches for you to Snap-on credit that you are good for the money without doing a formal loan application. Then somebody has to refigure your loan payments and bank debit

A while ago, my dealer stopped collecting EC payments from techs, bank or credit card debits only

 

[Snakebyt]

Why will he not put it on your Snap On credit account? I could buy anything from my guy and just tell him to roll it over from the truck account to credit and he'll do it.

apparently they cant roll over truck accounts anymore. Or at least i was told.

 

[WhiffySpark]

$125 just put it on the truck account or pay cash for it. It's not worth paying the interest on snapon credit for that little. I pay $150 every two week. $100 to box 50 to truck. I think my truck balance is around 1800

 

[midshipmen89]

Damn Whiffy, your driver is only taking you for $25 a week on $1800? I'm paying $75 a week on $1000, and that took some persuading. How long have you been his customer?

 

[tjmonsen5]

The rules from Snap-on credit have changed and depending on your personal credit rating, it does affect whether you can roll your truck account to credit or not. Minimum credit purchase is $300. Use the truck account for anything under 300 and just hand your dealer your payment of 50-100 whatever it is. He will split the payment between truck/credit.

 

[WhiffySpark]

Damn Whiffy, your driver is only taking you for $25 a week on $1800? I'm paying $75 a week on $1000, and that took some persuading. How long have you been his customer?

10 years. He don't care. I've had much more on it. He actually passed away from a sudden heart attack and a worker of his took over. Same deal though. I haven't brought anything since he passed away. Just isn't the same

 

[jimindm]

I have never had a dealer that wanted two checks. SO just wants there payment that he is collecting.

Having said that, you may talk with hem, because they may make the minimum required to SO and put everything left on the truck account.

I have bought very little on credit over the years. I have had a truck account over $5k several times.

 

[kctyphoon]

This is just my personal opinion, but if you have to make payments on $125, it might be worth buying some lesser expensive brand.. the problem I have with snap on is, from my understanding, that they consider anything you've ever bought from them as collateral on your balance, on top of the fact that you STILL pay their 33% markup that's suppose to be a fee for the driver even if you buy direct from the website.

It's your money, you can spend it any way you like. That said, if you're in the league of buying the most expensive line of tools the world knows, my personal feeling is $125 is not something anyone should need to make payments on. If that were the case for me, I'd look at a different brand.

 

[pi_guy]

The rules from Snap-on credit have changed and depending on your personal credit rating, it does affect whether you can roll your truck account to credit or not. Minimum credit purchase is $300. Use the truck account for anything under 300 and just hand your dealer your payment of 50-100 whatever it is. He will split the payment between truck/credit.

Depends on the dealer. I have put both my KRL1032 & 1033 on truck credit.
I have not put one thing through SO credit in 30+ years.

My dealer only worries when my balance drops below 2k he likes it closer to 3k.

Have not seen my dealer in 4 weeks, I went on vacation then he went on vacation.

 

[WhiffySpark]

This is just my personal opinion, but if you have to make payments on $125, it might be worth buying some lesser expensive brand.. the problem I have with snap on is, from my understanding, that they consider anything you've ever bought from them as collateral on your balance, on top of the fact that you STILL pay their 33% markup that's suppose to be a fee for the driver even if you buy direct from the website.

It's your money, you can spend it any way you like. That said, if you're in the league of buying the most expensive line of tools the world knows, my personal feeling is $125 is not something anyone should need to make payments on. If that were the case for me, I'd look at a different brand.

Don't know where you're getting 33% from. Truck is almost always cheaper than website?

Same with collateral. Sounds like a bunch of rumors

 

[kctyphoon]

Don't know where you're getting 33% from. Truck is almost always cheaper than website?

Same with collateral. Sounds like a bunch of rumors

The trucks do promos to help entice people to spend money. Nothing wrong with that.. But where do u think the drivers are making money from without there being a substantial markup on the tools snap on is selling to cover the costs of door to door service, which is the bulk of their sales.. you don't see Walmart driving around in trucks selling the same items in the store at higher costs to pay for they truck and drivers do you? Of course not, cause people would just drive to the store.. snap on's markup is across the board to keep the trucks in business instead of people just ordering off the website to save money. Or did you think it cost snap on $20 to make a 1/2" socket that's sold for $25?

Also, if you default on your snap on account, what do you think they are holding as collateral if you suddenly decide to stop paying everybody? Did you think they are "giving you" thousands of dollars of tools on your honesty without having a way to recoup the money if you simply decide to withhold payments and tell them to go screw?

Regardless, if you're buying snap on tools exclusively, $125 purchase is not something that most people would need to make payments on, and pay interest on.. it's like someone buying a Dodge Hellcat that then needs to borrow money for gas. He could instead buy a regular Challenger and keep the tank full on his own. That would be a better use of his money, and something he could still enjoy without being in debt to other people.

 

[Bobioz1]

Sometimes using the Snap on financing kicks back some large rebates. You still get 3 or 6 months same as cash. I've used it many times. Nobody should finance long term through them. You'll drown.

 

[WhiffySpark]

The prices are the same or less on the truck than the website.. again not sure where you're getting that from?

ANY manufacturer marks their tools up at least 50% before selling to the public. You think gearwrench and sk sells on their website for a 5% margin?

And I highly doubt using your tools as collateral is legal. Agains sounds like a bunch of rumors that you heard from someone and have never been a truck customer. Something you brought on credit yeah they can repo that. They can take your scanner back you brought on snapon credit but they're not going through your box and picking tools out to sell. That isn't going to happen.

 

[kythri]

And I highly doubt using your tools as collateral is legal. Agains sounds like a bunch of rumors that you heard from someone and have never been a truck customer. Something you brought on credit yeah they can repo that. They can take your scanner back you brought on snapon credit but they're not going through your box and picking tools out to sell. That isn't going to happen.

Legal or not, it's been reported on this very forum by both customers and dealers as what happens. Supposedly there's something in the credit agreement about this.

 

[WhiffySpark]

Legal or not, it's been reported on this very forum by both customers and dealers as what happens. Supposedly there's something in the credit agreement about this.

The credit agreement yeah. Like I said. They can reposses your tool scanner box etc you paid for on snapon CREDIT. If You have $20k worth of snapon on hand tools in my box paid for, No you can't touch those. Most dealers are going to send a truck account to collections if you decide to stop paying.

 

[Hiball]

I suspect most tool dealers are pretty savvy and know when to reduce truck credit limits or flat out say No, thus push customers towards SO credit. It can't be easy to attempt to repo non serialized tools, I'm sure the truck credit agreement contains the language, but it's more cost/time effective to limit the risk by keeping limits low etc. I'd also be willing to bet most mechanics pay there weekly/monthly bill without fail, mainly because it's there lively hood, also there avenue to on site warranty service/future purchasing power and they probably don't want to be that guy that the dealer is constantly trying to track down. I would also wager that a lot of guys set up automatic payments, and most dealers probably know what day of the week pay checks get deposited, so it's easier to be first in line on payday.

 

[kythri]

The credit agreement yeah. Like I said. They can reposses your tool scanner box etc you paid for on snapon CREDIT. If You have $20k worth of snapon on hand tools in my box paid for, No you can't touch those. Most dealers are going to send a truck account to collections if you decide to stop paying.

And, like I said, it's been reported by both customers and dealers that there is language in said agreement that they can repo tools - even those that have been paid for - to satisfy unpaid debt.

Someone once posted the section language detailing this, but I can't find the post.

Don't get me wrong - I think the concept is shady as hell, and I'm not championing it. I think there's a lot of shady stuff that goes on with the whole enterprise.

 

[3 Gun Shooter]

I bought a top riser and two top lockers from my dealer on the 'truck account' for my KRL 1003. I asked him if $300 down and $50 a week would work, if not tell me what would work. He agreed to it, I gave him $300 when I ordered it and $50 a week until paid for.

One thing I will say the old school dealers in California were a lot better than the idiots we have in Texas.

 

[shawndp]

I am curious - OP can only go up to $300 on the truck and beyond that has to charge to SO Financing? I think at one point I was at $1400 (CAD) with my dealer on truck credit - did I do something wrong? Is there a theoretical / preferred maximum? He said $100 a week, but I feel bad dragging it out over that long. He is excellent to deal with (our second SO dealer - I was never a fan of the first and never really bought anything) and I don't want to unknowingly make a mess. Thanks

 

[nes999]

I bought a top riser and two top lockers from my dealer on the 'truck account' for my KRL 1003. I asked him if $300 down and $50 a week would work, if not tell me what would work. He agreed to it, I gave him $300 when I ordered it and $50 a week until paid for.

One thing I will say the old school dealers in California were a lot better than the idiots we have in Texas.

My dealer will put any toolbox on the truck account for 500 down 50 a week. His rule is that payments are 20 a week if the balance is under 1.000 and they are 50 a week if your balance is 1000.


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[tjmonsen5]

My dealer will put any toolbox on the truck account for 500 down 50 a week. His rule is that payments are 20 a week if the balance is under 1.000 and they are 50 a week if your balance is 1000.


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That's not something to be proud of, that's a really weak turn. Do you really want to spread your payments out that long? The more you pay, the faster you will own those tools.

 

[nes999]

That's not something to be proud of, that's a really weak turn. Do you really want to spread your payments out that long? The more you pay, the faster you will own those tools.

I'm sure plenty of techs do it. I have what I need so when I do buy something its usually a cheapie promo item I buy with cash. Which I must add he does give a decent cash discount.

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[WhiffySpark]

That's not something to be proud of, that's a really weak turn. Do you really want to spread your payments out that long? The more you pay, the faster you will own those tools.

Yeah but it's no interest. And not everyone gets approved for snapon credit. If your dealer is plantitum or double plantitum (I can't spell that) he can over ride the denial for snapon credit