Shady Snap On dealers

[kwhitelaw]

Has anyone ever come across a shady snap on/matco/ etc dealer? Opening lines of credit under mechanics names using their info? Not applying payments towards account balances, but rather towards truck balances to get in new stock for the truck?

just curious. finally paid off my snap on guy and have been hearing stories from guys with shady dealers.

 

[Merkava_4]

Did you have to pay any interest on your balance?

 

[kwhitelaw]

funny you mention that. my guy told me that with trading in my old box, opening up a line of credit (3months no interest, plus 10% gift card) he would transfer whatever balance was left after 90 days to a truck account to be paid off, interest free. ( I told him I wouldnt open a line of credit otherwise).

shortly after the 90 days passed, he 'forgot' about the agreement. so I quickly paid off the remaining balance and closed the account.. he was upfront in telling that my payoff would be slightly less as it orig. included interest tho..

 

[Merkava_4]

A good dealer will not charge interest; he'll just have you pay 15% of the balance each week.

 

[kwhitelaw]

are you talking about a truck account or a line of credit through snap on?

 

[nissan_crawler]

A good dealer will not charge interest; he'll just have you pay 15% of the balance each week.

The Snap-On lady will let you run truck credit (no interest) for 90 days, I think it is. I've never bought a tool on credit, and don't plan on it, however.

 

[kwhitelaw]

The Snap-On lady will let you run truck credit (no interest) for 90 days, I think it is. I've never bought a tool on credit, and don't plan on it, however.

concerning truck accounts, I have never paid interest at all. ever. regardless of length to pay off.

my old dealer told me that any truck balance over 60 days, the dealer will start to lose money. rare that they will run a toolbox on a truck account because of that.

 

[Merkava_4]

are you talking about a truck account or a line of credit through snap on?

I guess I'm talking about what you're referring to as a "truck account," because I've never had a Snap-on credit card. My total balances were never over $500 though.

 

[ToolmanTom]

A good dealer will not charge interest; he'll just have you pay 15% of the balance each week.

10% of the original purchase, so it would be paid in ten weeks. until you buy more tools, then the old payment or ten more weeks which ever is higher.

 

[kwhitelaw]

yes, a truck account. the problem with a truck account (im sure you are fully aware) is that the dealer needs to front the money for the tools on the truck/that you order. so when it comes time for him to order tools that week, they will sometimes dip into the money mechanics give which should be applied to say a snap on credit account (separate from the truck account. directly tied to your credit history).

A guy I 'know' said he got a bill in the mail for a cart that was never paid off, that he paid off months prior. called up his snap on dealer and it was a 'paperwork error' and taken care of.

 

[kwhitelaw]

10% of the original purchase, so it would be paid in ten weeks. until you buy more tools, then the old payment or ten more weeks which ever is higher.

makes sense, which is why my old guy quit to become a cop. wasnt making any money, always giving deep discounts, no worries about interest. my old installer got a $6200 KRL on a truck account and didnt make a payment for 3 months.

 

[ToolmanTom]

yes, a truck account. the problem with a truck account (im sure you are fully aware) is that the dealer needs to front the money for the tools on the truck/that you order. so when it comes time for him to order tools that week, they will sometimes dip into the money mechanics give which should be applied to say a snap on credit account (separate from the truck account. directly tied to your credit history).

Sounds like that dealer is in trouble, financially. KEEP ALL YOUR RECEIPTS.

 

[kwhitelaw]

doesnt help that alot of mechanics arent the most stellar citizens, with poor to no credit. so when they need 20K of tools to work at a shop, the dealer finds a way to fudge the documents. not somebody I would trust with my info.

disclaimer: my SO guy is not one of these individuals.i hope

 

[krusty the clown]

i had a mac guy that didn't send my exteded credit payments in to mac once. it took a couple of calls to mac and a little fear of god into the dealer but it was resolved.

when i was a matco dealer i ran a customers credit and matco said he was a customer in good standing. he had never used matco credit before. a former dealer used his credit but at least he paid it off!

 

[Merkava_4]

My old installer got a $6200 KRL on a truck account and didn't make a payment for 3 months.

That wouldn't have happened to the Clovis SO guy; he puts the fear of God into people. It's even rumored that he keeps guns on his truck.

 

[ToolmanTom]

That wouldn't have happened to the Clovis SO guy; he puts the fear of God into people. It's even rumored that he keeps guns on his truck.

I kept Two guns on my truck, One to Shoot him with, the other to put in his dead hand. LOL

 

[keywestjack]

I wonder how many times or what percent of credit goes bad.

 

[krusty the clown]

according the article i posted yesterday it's 2% for extended credit. it's higher for truck accounts.

 

[Fedwrench]

according the article i posted yesterday it's 2% for extended credit. it's higher for truck accounts.

That article was written a few years ago. I bet the numbers for default have climbed a bit lately.

 

[krusty the clown]

That article was written a few years ago. I bet the numbers for default have climbed a bit lately.

you could be right......

 

[Underdog]

according the article i posted yesterday it's 2% for extended credit. it's higher for truck accounts.

I overheard the SO guy saying he had a repo tool box coming back, problem was he had to find it first. I would think it must be a PITA dealing with some customers.

 

[Jason_D]

had the Matco guy say I still owed a balance on some sockets that I paid cash for a month earlier. I went directly to my toolbox & showed him the receipt then he said, "Oh, must be a computer program error" he has not stopped by much after that. I wasn't mad or anything. Maybe he is just embarrassed or something.

 

[Thumper]

Ya gotta watch them dudes........all the time.

 

[Merkava_4]

Yeah ... I kept all my payment receipts in a file cabinet at home.

 

[eschoendorff]

Our Snap On dealer has a desktop computer right in his truck and all of us have accounts... we get receipts for everything, cash or not, discount or not.

He didn't get ahead in the business by being irritable and unprofessional.

 

[wilbilt]

Yeah ... I kept all my payment receipts in a file cabinet at home.

You should scan them and burn to DVDs, which can be kept in a fireproof file cabinet. I used to keep mine in the top drawer of my box, but that could be problematic it the box was ever stolen.

 

[TNToy]

That wouldn't have happened to the Clovis SO guy; he puts the fear of God into people. It's even rumored that he keeps guns on his truck.

Californians are weird.

I guess partially because I'm a competitive shooter and they feel comfortable with admitting it, but every tool truck driver I've ever had has carried a firearm on the truck.

None of them carried a halfway decent one, though.

 

[wilbilt]

Californians are weird.

I guess partially because I'm a competitive shooter and they feel comfortable with admitting it, but every tool truck driver I've ever had has carried a firearm on the truck.

None of them carried a halfway decent one, though.

I think midwesterners are weird, actually.

A good point though, a tool truck guy with $150K in inventory on the roll...and he carries an $80 piece. I can see it.

 

[krusty the clown]

i carried the "COLT EXPRESS CARD" don't leave home without it!

 

[krusty the clown]

Californians are weird.

I guess partially because I'm a competitive shooter and they feel comfortable with admitting it, but every tool truck driver I've ever had has carried a firearm on the truck.

None of them carried a halfway decent one, though.

i think in missouri EVERYONE carries in thier truck. a former dealer of ours had a 1911 in reach of the seat and an m16 in a toolbox. when i was a dealer i'd take firearms i lieu of payment if a guy deadbeated me.

 

[Buck_nekid]

As far as the question in the original post, YES, a S/O dealer here about 10 or more years ago bought a new Ford SUV, a pair of dirt bikes along with a trailer (wanna be MX racer.) Well the poo finally caught up with him and had to go into hiding for a few years because of the PO'ed mechanics & shop owners. A few years after that S/O brought a new dealer in and tried to establish the route again. Talk about a GOOD time to get deals and trade ins with them wanting to soothe everything back out with everyone. I mean straight even trades of junk sets for bigger better sets of S/O stuff. I personally traded at least $10,000 of craftsman, stanley, some mac and some cornwell for new shiny Snap-on. But this new dealer after awhile fell under the money crunch but never gouged nobody, just gave it up and went back to wrenching, haven't seen a truck in a few years...

 

[ToolmanTom]

None of them carried a halfway decent one, though.

So a Taurus .38sp and a .44sp is not decent?

 

[krusty the clown]

So a Taurus .38sp and a .44sp is not decent?

not compared to a colt 1911