Repo Tools from SnapOn, etc.
- Thread starter LSU
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Garys Garage
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My dealer will sell it for the balance owed in cash.
daveblank
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That's what I do. The only time I do otherwise is if the customer has been easy to work with. Then, I'll try to get as much as possible & split the difference with them. I've done that a few times & it seems to make things go better for customer relations.
Let me add to that. This is for repos on truck accounts. If it's a Matco deal, they tell me what they have & set my price. It's then up to me to decide if I want to purchase the items & then re-sell at the price that I see fit.
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fordbroncodave
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my dealer gets repo stuff every once in a while. fair pricing usually but if it were me, it needs to be 50% off or better or i won't buy it
daveblank
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But sometimes the customer owes more than 50%.
Toolman12
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If he is a good businessman he will know when to cut his losses and get what he can get which should be around 30 to 35 % in my 2 cents worth
rc77
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That's how I got my box, a 100th anniversary Harley Davidson Snap On. I was told retail about $13000 and I paid $7000 for it. Kept in a corner of the previous owners shop and couldn't afford it any more.
Bulldawgtools
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What I do is clear out as much of a balance I can with the toolbox and bigger amount of tools said customer financed and If I have to I leave a balance it all depends on the fair market value of what he turns in but one thing I for sure will never do is take more tools than it takes to clear out the account
I've not bought from SnapOn, MAC, etc. so I'm not exactly sure of the process with the trucks works but . . .
If I wanted to let one of these dealers know I might be interested in buying some repo tools how would I go about it?
I wouldn't be in a rush for a specifc tool or a specfic box but I'd like some of these dealers to know that if they had one on repo and money was tight, they could call me and I might be interested.
How does Snap On Credit work? I've seen posts about "payment cards", etc. If the buyer defaults on the loan, does the local guy get stuck?
Does the local Snap On truck guy carry the financing or is it through "SnapON Credit"? What about the others?
If the local guys sells an $8,000 tool chest on credit and the buyer defaults, who is stuck with the balance of the loan?
Does the local dealer lose his commission (and, does anybody have any idea how much this is?)?
Right now I don't need any more tools.
Unless a fire, burglary or a divorce happens, I've got enough tools (yea, I know you can never have enough tools) but I'd be looking for exceptional deals on great tools. Would have cash to pay and the dealer could get it off his/her hands quickly?
Any thoughts/ideas would be appreciated?
If I wanted to let one of these dealers know I might be interested in buying some repo tools how would I go about it?
I wouldn't be in a rush for a specifc tool or a specfic box but I'd like some of these dealers to know that if they had one on repo and money was tight, they could call me and I might be interested.
How does Snap On Credit work? I've seen posts about "payment cards", etc. If the buyer defaults on the loan, does the local guy get stuck?
Does the local Snap On truck guy carry the financing or is it through "SnapON Credit"? What about the others?
If the local guys sells an $8,000 tool chest on credit and the buyer defaults, who is stuck with the balance of the loan?
Does the local dealer lose his commission (and, does anybody have any idea how much this is?)?
Right now I don't need any more tools.
Unless a fire, burglary or a divorce happens, I've got enough tools (yea, I know you can never have enough tools) but I'd be looking for exceptional deals on great tools. Would have cash to pay and the dealer could get it off his/her hands quickly?
Any thoughts/ideas would be appreciated?
If you are not a normal, regular customer and you tell a dealer you are only interested in repo tools you won't get very far. If he has repo tools his regulars are going to get dibs on them. Doing what you are describing isn't a good way to start a relationship with a tool dealer trying to keep his business alive.
Basically you are coming to him and saying, "Your retail stuff (which he makes his living off of) isn't good enough for me, but I'll take some cheap stuff if you ever get it (which he probably loses moneyon on). Just being truthful but if it were me I'd tell you to go piss up a rope.
Basically you are coming to him and saying, "Your retail stuff (which he makes his living off of) isn't good enough for me, but I'll take some cheap stuff if you ever get it (which he probably loses moneyon on). Just being truthful but if it were me I'd tell you to go piss up a rope.
Bulldawgtools
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KV501 has a good point for me I make it a goal to carry repo product 48 hours or less and that involves calling up my best customers, the customers who worked in the shop with the tech and getting the word out as quick as possible. The last guy I think of is the guy who only wants the repo "deals".
BigAl62
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My Matco guy repoed another tech's box in the shop I work at. It never left the building, yet another tech bought it before the Matco guy could load it onto his truck! It must **** having your box repoed and still have to see it everyday! (the guy who bought it didn't even remove the nameplate with the first guys name on it!)
Bulldawgtools
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That is the way most repos can resolved without much stress. Last repo I did I took 9 different techs out to anothers guys box who had already ditched the toolbox so I took each tool started at minimum fair dollar value and allowed bidding on each item, recorded the bids and left with an empty box and sold the box 24 hours later.
canuckian
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Lol...that would definitely **** for the first owner! But, if ya can't pay your bills bad things are bound to happen! My driver has a cart on his truck now that was a voluntary repo. Guy bought it, soon after realized he couldn't pay for it and cut his losses and gave it up. Don't know how much he owed but i don't figure it was too much as even the snappy guy can't get near new prices for used carts.
chris142
Well-known member
The tool trucks here don't give any good deals on repo stuff. The Snap-On kid has a beat to death 3/8ths impact gun right now. He wants $240 for it. I'm not going to pay that much for a tool that looks like it got dragged down the road behind the family truckster.
Matco guy had a repo'd wrench set with owners markings. List price was like $300 and he wanted $279.
Matco guy had a repo'd wrench set with owners markings. List price was like $300 and he wanted $279.
wafrederick
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Snap On dealer down the road in my area had a hell of a time getting a brand new Modis repoed once.Story is the guy whom made a couple payments with Snap On credit died from radation poisoning blowing out air filters from a couple cars from Russia which were contaminated with radation a customer bought.His family would not give it up and almost went to court over it.The family did finally give it up and sold it to my father for five grand.I have seen a Dale Earnhardt Sr. toolbox he repoed once,guy owed money on it.
crewchief888
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AZ_Catskinner
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The repo stuff I've gotten has always been really good deals. I got my Mac half moon set for $5 just to get it off the truck.