Returning Tools?

[doncorleone]

Okay so around September last year I began going to school to become a mechanic... big mistake waste of money don’t do it. So basically I got hired at a dealer pre covid and bought a box and set of tools from Snap-on because being a student at UTI I got a discount blah blah blah I drank the koolaid and took out a loan as I have good credit and the price for the tools I couldn’t pass up at the time. So now I was laid off and have decided to choose a different career path. And I know the option of selling them privately, and I have been trying to sell them for a few months with no luck. The tools and box’s value is for sure more than what I owe and I’m not behind on payment or anything like that, was wondering if anyone has any info on returning everything to get out of my loan. Everything is basically brand new... or if you’re in the tristate area and want a good deal on a box and full tool set let me know.

 

[Cgw1984]

From a driver, or corporate? snap on (or matco, mac, etc) drivers will take the tools back im guessing (a voluntary repo) but your credit will take a hit and show a repression im sure.

 

[zendriver]

By all means, let someone else pay for your mistakes.

If they’re worth more than you owe, sell them and pay off the debt.




Sent from my iPhone using The Garage Journal mobile app

 

[bczygan]

What are you asking for them?

Sell them for what you paid and they should go quick. And then count yourself lucky.

Sell them piecemeal, not as a group.

Bill

 

[dsaabm]

It will take some time and effort but you could certainly make a little money selling the tools individually on Ebay.

As for the box, you should be able to sell on craigs or facebook with some time. Or 1st State Tools in Delaware might be worth checking out, they buy and sell a lot of used Snap-On boxes.

 

[Lucid Moments]

There most likely is no way to simply return the tools to the seller without taking a serious hit in some form or fashion. As others have already said your best bet is to part out the kit, but likely you won't get anywhere near what you paid, and you will be lucky to get anything close to what you owe. And that is almost regardless of how good a condition the tools are in. The cold hard fact is that they are now "used" tools and the market for "used" tools is nowhere near the market for new tools.

 

[Ton ton]

I wish I was closer. My car is in rough shape unfortunately .

 

[Ton ton]

Sberry, here's what you have been waiting for.

 

[Stuey]

It can't hurt to contact the dealer and explain the situation to them.

They might not be able to buy it back off of you, but maybe they have a new buyer who is looking to buy something similar right now or in the near future.

 

[X1 Mike]

Most student discounts are 50% which is less than the drivers pay for new tools. With that knowledge you should be able to approach your S-O driver and ask if he is interested in buying them or any part of what you have. If you had a good relationship and he is the kind of guy that has liquid capital he could easily give you a good package offer.

Even if you are not going to be using the tools professionally some day in the future you will be bummed that you don't have that sweet box and tools. That comes from a guy that didn't start to get quality tools until he was over 35 years old.

 

[m6z]

It can't hurt to contact the dealer and explain the situation to them.

They might not be able to buy it back off of you, but maybe they have a new buyer who is looking to buy something similar right now or in the near future.

I'd give this a try first, before selling things individually.

The economy is a ******* mess right now.

 

[Htscheg]

Your leaving for basic training... ok you have another option at your disposal once you get in... its called the soldiers and sailors protecction act... meaning you send them a letter or call them and usually, they will reduce or stop the interest on your loan while you try to pay it off... just a thought that might help

 

[toddmorr]

I just don't get how readily people take on debt. Hopefully other young guys considering a tech career see this thread

 

[Cgw1984]

I just don't get how readily people take on debt. Hopefully other young guys considering a tech career see this thread

Ya, it would be funny if it werent so sad. People pay no mind to taking on a large amount of debt, often at ridiculous interest rates

 

[doncorleone]

I just don't get how readily people take on debt. Hopefully other young guys considering a tech career see this thread

I definitely see where you’re coming from as wel as the other guy talking interest, but I mean I got 15k worth of tools for under 9 grand at an interest rate of 9% for a job that paid double my previous that required me to have a good set of tools. So yeah gotta do what you gotta do. Wish I could’ve contacted you and you could’ve let me know Covid was going to get me laid off. Not that I can’t afford the tools just simply don’t need them and also don’t need to have to worry about lugging 700lbs of tools cross country when the time comes

 

[doncorleone]

This is an option for Snap-on for sure?

 

[doncorleone]

Your leaving for basic training... ok you have another option at your disposal once you get in... its called the soldiers and sailors protecction act... meaning you send them a letter or call them and usually, they will reduce or stop the interest on your loan while you try to pay it off... just a thought that might help

If this is an option I was for sure take use but like I said I was just wondering it was simply a question. Can’t find much on google except for people talking about repo cuz they don’t make payments etc. thanks

 

[ssdave]

Guys, no reason to bust his balls over this. He made a reasonable decision at the time to obtain tools to invest in a career. It didn't work out. So what? It's not life ending, or devastating, he's even said they're worth more than he owes. Those that don't take reasonable risks or try anything end up being the biggest losers in life.

OP, you're on the right track. Just work through selling them, and go onwards with life. I'd sell sets on ebay, and start working through selling the toolbox locally, or through your snap-on dealer; it will take some time to sell the box. Be patient, there are plenty of buyers out there that will buy if it's priced right. There are some that see the economy as a mess, but I see even more people that are looking to spend money on things that they want and need, that haven't been spending it on experiences and travel and similar because of the entire national situation. Tools are bring higher prices, and are easier to sell, than they have been in the past several years because of that. Tool sales for me have been exceptional this year.

 

[Lucid Moments]

Your leaving for basic training... ok you have another option at your disposal once you get in... its called the soldiers and sailors protecction act... meaning you send them a letter or call them and usually, they will reduce or stop the interest on your loan while you try to pay it off... just a thought that might help

Actually the Serviceman's Civil Relief Act supersedes the Soldiers and Sailors protection act. But in general you are correct. It isn't long term though and will only protect him until he is at a permanent duty station, unless that duty station is overseas in a few limited areas. I did collections work for 20 years.

 

[Fedwrench]

I'm assuming that you purchased these tools through your school student discount program. As such, they come from the Snap on industrial sales side of Snap on. How long ago did you purchase the tools? you might try contacting the Snap on rep you got them from. However, I think getting Snap on industrial to accept a return and refund your money is a huge longshot but, it doesn't hurt to ask especially if by basic training, you're joining the military. The worse they can do is say no. Good luck in your future endeavors

 

[Lucid Moments]

Guys, no reason to bust his balls over this. He made a reasonable decision at the time to obtain tools to invest in a career. It didn't work out. So what? It's not life ending, or devastating, he's even said they're worth more than he owes. Those that don't take reasonable risks or try anything end up being the biggest losers in life.

OP, you're on the right track. Just work through selling them, and go onwards with life. I'd sell sets on ebay, and start working through selling the toolbox locally, or through your snap-on dealer; it will take some time to sell the box. Be patient, there are plenty of buyers out there that will buy if it's priced right. There are some that see the economy as a mess, but I see even more people that are looking to spend money on things that they want and need, that haven't been spending it on experiences and travel and similar because of the entire national situation. Tools are bring higher prices, and are easier to sell, than they have been in the past several years because of that. Tool sales for me have been exceptional this year.

I put the key point in your comment in bold, italics and underlined. He may very well be correct, and if he is then he should have little or no trouble selling them. I hope this is the case. But I have run into many, many situations in my career where people think objects are worth a whole lot more than they actually are. And there is the time element also. Somewhere in this thread the OP mentions that he has to report for boot camp soon. He may not have the time to take to sell the tools for a realistic price. The more of a hurry he is in the bigger loss he might have to take.

 

[Robbie B]

I hate to say it but they aren’t worth what you paid on resale. Tools don’t hold value well unless they are vintage and sought after. Look on Craigslist and what people are asking and then how many times the prices get cut before they sell.

 

[Wrench97]

I don't see a dealer offering you more then $.50 on the $1 if that, he's probably already running around trying to collect off others also out of work.
I have a feeling mine hung up the towel as he has not been around for a couple weeks and phone goes right to voice mail.

 

[Chevy-SS]

OP, talk to the Snap-On dealer that sold you the tools. If nothing else, he may know someone that will buy them. He would be the very best person to have out there selling your set. Maybe he would want a commission or something, but get rid of them.

Good luck in the service!

 

[JP Chestnut]

I hate to say it but they aren’t worth what you paid on resale. Tools don’t hold value well unless they are vintage and sought after. Look on Craigslist and what people are asking and then how many times the prices get cut before they sell.

Fifty percent off seems to be the “good deal” price for individual tools. If he parts out the box and all the tools, he might make some money - depending on how much he’s already paid. However, there’s zero chance he gets anywhere near that without parting out and spending a bunch of time selling.

 

[BlakeTheCarGuy]

Find someone else to take over the payments. Or if you have an awesome rep like I do he will take it back and not charge anything for it and sell it for what you owe on it then pay it off that way.


Sent from my iPhone using Garage Journal

 

[sk farmer]

I put the key point in your comment in bold, italics and underlined. He may very well be correct, and if he is then he should have little or no trouble selling them. I hope this is the case. But I have run into many, many situations in my career where people think objects are worth a whole lot more than they actually are. And there is the time element also. Somewhere in this thread the OP mentions that he has to report for boot camp soon. He may not have the time to take to sell the tools for a realistic price. The more of a hurry he is in the bigger loss he might have to take.

i think you are on to something, if they are worth way more than he owes on them and has them priced accordingly why aren't they selling?

they may not be worth what he thinks. no doubt there is good stuff and it is probably as good as new but sometimes as good as new doesn't bring new price. especially if it is a specific kit for a specific program. they may have the items needed for that program but little else. the sets may not even be complete as i have seen them hand picked one by one for a specific program.

until he shows some pics or gives an itemized list nobody really knows what he has and for some odd reason we have seen neither. a tool set for an "automotive program" is pretty vague.

 

[Wrench97]

i think you are on to something, if they are worth way more than he owes on them and has them priced accordingly why aren't they selling?

they may not be worth what he thinks. no doubt there is good stuff and it is probably as good as new but sometimes as good as new doesn't bring new price. especially if it is a specific kit for a specific program. they may have the items needed for that program but little else. the sets may not even be complete as i have seen them hand picked one by one for a specific program.

until he shows some pics or gives an itemized list nobody really knows what he has and for some odd reason we have seen neither. a tool set for an "automotive program" is pretty vague.

It's from the Snap On Education program and he stated it's Metric set. > https://sep.snapon.com/webclient/#/category/876426

 

[Robbie B]

Fifty percent off seems to be the “good deal” price for individual tools. If he parts out the box and all the tools, he might make some money - depending on how much he’s already paid. However, there’s zero chance he gets anywhere near that without parting out and spending a bunch of time selling.

Unfortunately you’re right. That said anybody looking to buy some tools new him might want to hit him up.

 

[Rubberdown]

Gosh dang. If you part it out let me know.... I’d buy a few things

 

[youinreverse]

I also might be interested in buying some tools if you're parting out and shipping.

 

[Dig Doug]

Thank you for making the choice to defend our great nation!

I wish you the best of luck where ever your headed!

Take some pics of your sets & figure out pricing, I’d like to help out and buy a few things!

 

[PFSard]

If you haven't placed an ad already, given the interest of GJers in ..... you might want to cobble together some pics and prices on the shippable items. And the box for local pickup.

Classifieds
https://www.garagejournal.com/forum/forumdisplay.php?f=9

 

[sk farmer]

It's from the Snap On Education program and he stated it's Metric set. > https://sep.snapon.com/webclient/#/category/876426

i won't argue with you. you may be privy to more info. it may very well be that set. you offered up specific info.

but,,,,, i looked and he does "not" say it is from the snap-on education program, he just says it is snap-on and that it is a beginner metric set. his words, not mine. no pictures, no set numbers, no box model number. all pretty important info when he is trying to tell us what it is worth.

 

[gtsgarage]

I’ve been waiting for this deal but I’m on the complete opposite side of the country. Wonder what shipping would be? Although a remote deal is pretty hard is want to be face to face.

Good luck!

 

[jimindm]

If he bought them through school he got a hefty discount. Most are right that 50% of new is a rule of thumb for buying used tools. I would bet that is about what you get back if you turned them over to SO.

It is not as easy as just turning them back in and being paid off. They will work it out with you on a value of them. It maybe enough to pay them off, it might not. Really no different than turning in a car you have financed, the value has to be more than owed.

I would contact the school and get the SO contact person that sold the tools originally. You are not the first student this has happened to. Most of these guys have actual dealers waiting in line to buy tools when circumstances like this happen.

Think of it this way. If you can get SO interested in coming to get them, who do you think is going to come get them. They will just call one of their franchise dealers. They will set a value on them at some point, as they pick them up.

That dealer may buy them, or they might end up at a managers place to be sold to many different dealers.

You are not the first to find yourself in this situation. Right now you are a high risk for SO. You owe on tools and are not working in the profession any more. You say you are in good standing with them, but that could change. To repo them is much easier if you are working with the tools in an open shop. Right now they would have to track you down, and you may not even have easy access to them, even if they did find you.

Just remember, most likely a franchise dealer will act on behalf of SO in tis situation. If you worked very long at all you or someone you worked with knows how to get hold of one. Talk to them.

In the end, I would bet if you got them turned back in, and the value was close, SO would wash their hands of it. They may not even report it to a credit agency. Hell I am not even sure if you never made another payment, they would.

I would get some numbers together. The set number, the box model, take some pictures and get hold of a dealer. This is all new to you, but not for them.

 

[pizza]

good luck on your new path!

i'm interested in the torque wrench btw.

 

[catron44]

There's a guy in Delaware that I see posting on facebook all the time who buys boxes to resell. Not sure what he would offer you but it might be worth checking them out. I just looked them up, they're called 1st state tools.

 

[JP Chestnut]

There's a guy in Delaware that I see posting on facebook all the time who buys boxes to resell. Not sure what he would offer you but it might be worth checking them out. I just looked them up, they're called 1st state tools.

They buy tools as well, but it won’t be at 50% of retail.

 

[bczygan]

I see that you did use the school pricing. It is usually at least 40% off.

Give us a list of exactly what you bought, itemized with exactly what you paid and we can see if what you are asking for it all is reasonable.

Bill