mattwgrizwald
Well-known member
Wife is pissed my snap on payment is fifty every two weeks just curious what other guys are paying 
tool payment how much?
- Thread starter mattwgrizwald
- Start date
saundersdiesel
Active member
Depending on what I get every week between 30 and 75.
canuckian
Well-known member
nada, zip, zilch. if i cant afford it then and there I leave it on the truck but most guys i know that have an account on the truck pay about 50 a week.
07Forester
Well-known member
I pay for everything up front in cash or on my amex card. There is ZERO sense in having a large truck account or snap on finance acct. One of the guys on my dealers route has a 4k truck account and a 15k SOC account. He pays 400-600 a week from what my dealer says.
LOL.. If he is paying his debt on 19K at 400-600 a week I applaud him, Thats less interest he will owe in the Long run..
07Forester
Well-known member
The guy I mentioned is the lead mechanic at a high end exotic repair shop. He's reportedly made payments of 1k a week as well.
american lockpicker
Banned
None. I like being debt free.
he must be buying 2k worth of tools a month then. at 500 a week thats 2k a month. debt should be cleared in less than a year.
Farmrod
Well-known member
$100 per week per truck
Yep... Thats Awesome, For Some Reason there are lots of people here who think "Tool Debt" is a Bad thing. These same people are Probably putting McD's on there Credit Cards. If a Guy is Making those kind of payments on his Debt, he obviously has everything else in order, or is making a Helluva living turning wrenches.
Or..
Maybe he has a Suga Momma... LOL
07Forester
Well-known member
He makes quite a bit of money. I personally think having a tool debt is "bad". Really, in my eyes any debt is "bad"
My amex card just got charged just shy of 50k from the snap on guy.
redwrench60
Well-known member
I pay about $60 a week and I tell the ol' lady never you mind what I do with my money! Hows about you get in the kitchen and fix me some supper before I chuck this beer at..........oh hey baby, didn't see you standin' there..love you!
clueless
Well-known member
snapon usually $40/wk just a truck account.no snapon box payment! seen some @ 10/wk,some over $100+ a week!
scott0
Well-known member
$100 a week. For the past 7 years 
07Forester
Well-known member
Here is a guy who will die flat broke, but happy.
The guy is far from broke.
Garage5.9
Well-known member
I owe 3900 , being unemployed i can hardly pay him but i all ways do. I usually cough up 80$ every 2 weeks
MattPersman
Well-known member
tool truck credit is free, why not take advantage of it? it supports the driver and is a good way to get quality tools. Free interest is the best interest if it is something you need. ask most business owners and investors if they could pay 20 dollars a week interest free over 10 weeks instead of 200 today would they do it? sure cause they figure they can try to make money on the balance over the next several weeks and gain a little. do this over a big scale and it adds up.
lol. That made me chuckle.
znowaczyk
Banned
$25 a week to Snap-On and Matco. Tool debt is , necessary IMO. It's nicer to be able to pay $50 a week and have the things you need, than to wait and save up for something and have to do without until you save it all up. And interest free, to boot! Now I agree, if you can't afford a weekly payment, don't run up a bill. But if you can, do it! Don't listen to the old crustys that say you shouldn't carry a balance on the truck. Sure, being debt free would be nice, but its nicer having the tools i need.
Fedwrench
ALLIANCE MEMBER
I think the model was to take the amount of your purchase and pay for it over 5 weeks and then buy more.For example, if you spent $1000, you'd pay it off in 5 weeks at $200 a week which is like a house payment a month.
I'm surprised to hear of the guys with multiple truck tabs. That adds up quickly and can eat a significant chunk out of your take home pay. When I was buying from a truck dealer, I kept it at $50 a week and tried to only have one truck bill at a time.
I'm surprised to hear of the guys with multiple truck tabs. That adds up quickly and can eat a significant chunk out of your take home pay. When I was buying from a truck dealer, I kept it at $50 a week and tried to only have one truck bill at a time.
Heavy Metal Doctor
Well-known member
Wife is pissed my snap on payment is fifty every two weeks just curious what other guys are paying
If you make your living off tools, then tell her she need's to adjust her attitude and deal with it. (diplomaticly, of course!) My wife was uptight the first couple of months when I started in 95...but after 16 years, I tell her I bought something and she just says "wow, that's nice honey -- oohhh shiny wrenches....."and goes about her business.
At the peak of building a collection of tools I was up to about 200/wk when I had to buy some big stuff fast running multiple truck tabs. I cut back to dealing mostly just with the SO. Partly 'cause I wanted to trim back the spending and partly because most of the others went under around here. I still run a small tab for stuff on the truck - payment these day vary from a minimum of 65 / wk up to 150 or so depending on what I buy / feel like.
4x4gearhead
Well-known member
$50 every two weeks is pretty low. I pay about $110.00 every week.
FergusonTO35
Well-known member
When I was in the business I was spending anywhere from $50-120.00 a week depending on how many tool guys were showing up. On average, each one got $10-30.00 a week. If I bought an expensive item I would usually pay extra to keep my balance within reason.
Ebay is the tool truck thats always parked outside. My Bill Me Later account is now my tool account.
Ebay is the tool truck thats always parked outside. My Bill Me Later account is now my tool account.
Is that for your new house, sorry I ment box lol. Hopefully you get a percent from Amex.
diesel research
Well-known member
Cash in full. Haven't had a revolving truck account.
As a matter of fact, I've only had 3 "tabs" in my life. 2 at bars, and I had a "revolving account" with the chinese take out guy. Crispy duck. Pretty much like a tool truck. Brought me what I "needed" when I needed it, didn't have to pay on the spot, pay off a little at a time interest free, occasional freebies. Only difference was there was occasional unexpected "balloon payments" where I had to clear my "tab".
As a matter of fact, I've only had 3 "tabs" in my life. 2 at bars, and I had a "revolving account" with the chinese take out guy. Crispy duck. Pretty much like a tool truck. Brought me what I "needed" when I needed it, didn't have to pay on the spot, pay off a little at a time interest free, occasional freebies. Only difference was there was occasional unexpected "balloon payments" where I had to clear my "tab".
That made my day. Thanks.
diesel research
Well-known member
Didn't make my day when I realized I had run up a $130 tab over the period of several months...
Trey T
Well-known member
For a long time, I didn't know that ppl finance on tools. You gotta be spending like a large sum of money to finance, right? somewhere in the neighborhood of $2K+, right?
wornoutoldman
Well-known member
It's only money. You can't take it with you. Do those payments help you make money today? I wouldn't sweat it. But to answer the original question when I was much younger and buying tools every week anywhere between $20-300 a week. I always paid down a balance fast enough that any finance charges were neglible (and in those days consumer interest was tax deductable).
usdemt
Well-known member
No. I am a paid in cash kind of guy on the SO truck to keep myself from over extending myself....its way to easy in that place. But because I would meet my dealer at other peoples shops he would be busy sometimes so I would grab what I needed and he would put it on my bill till I saw him the next week. I could get out of there faster and he could devote more time to his other customers as he knew I was a good customer. I was the kind of guy where I walked on knowing what I needed and didnt spend a whole lot of time browsing. Where as he would work with some of his other customers more to help educate them and get them what they needed. Thats why the grab and go worked for us. Sometimes it was as little at $20.
No, in fact, my dealer was showing me how he OWED a few mechanics as much as a grand, because they'd been giving him $20 a week but had stopped buying for a while. So basically they were paying for tools that they would someday buy.
Although it might be good practice to keep the wife out of your tool money vs putting it in the bank, I can't see doing this as you're giving your money away interest free, and if the guy goes under so does your thousand bucks. I could see having a small amount of credit in your account but paying 20 bucks a week for a year without buying anything just seems silly to me.
Now having a weekly payment for tools you already bought I think its a fine idea. Intrest free and you get to put the tools to work instead of waiting and saving up. Seems smart to me. You just have to be more careful about what you buy. It also keeps the dealer returning to your shop regularly to collect his payments, and keeps him acting friendly because you're the one with the power if you owe him.
jim_rush51
Well-known member
i have a minimum of 25.00 on my snap on account, and my truck account i pay what i can. More when the tab is higher. My truck guy doesnt worry too much about it, as im usually paying anywhere from 50.00-75.00 a week with him. For both that is. I dont deal with any other truck guys.
JeremyManning
Well-known member
I only pay cash for what I can afford.
[SM]Juan
Active member
I just buy whatever I need at the time and put it on the truck account... Nothing over a couple hundred bucks (deadblow hammer, screwdriver, misc. wrench). I think our minimum payment is $25 a week but I just give him whatever cash I have collected that morning, 100 bucks or so usually. We've never carried a balance over 800 bucks... I can't imagine owing the driver 15k+ like some other shops near by.