tool payment how much?
- Thread starter mattwgrizwald
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Toolhorder
Well-known member
Toolhorder
Well-known member
My wife never says anything about what tools I buy or my truck accounts. She knows I need tools to make a living and doesn't see them as toys or whatever. If you would have explained to your wife a little better how the tools make you money and should be looked at as investments then you wouldn't have the wife nag problem.
ptschram
Well-known member
As much as I can at the time. Sometimes it's nothing, the next week, it might be paid in full.
I'm test-driving a Verus and a Modis. When I pull the trigger, it's gonna hurt!
I'm test-driving a Verus and a Modis. When I pull the trigger, it's gonna hurt!
wannab20hatch
Well-known member
I pay $100 a week. $40 for my box and $60 for tools. The highest my truck acct has ever been is $500. Most guys in the shop pay between $20-$40 a week
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crewchief888
Well-known member
when i was buying tools off the truck, i ws spending anywhere from $200-$250 a week between 2 or 3 trucks.
anymore i dont buy anything, and if i do i pay it off within a month.
anymore i dont buy anything, and if i do i pay it off within a month.
I pay all mine in full. Other than a techangle wrench one time I floated for a week. I had been eyeing the 10-19 FD+ combo's he had broken up from a deal and made a good deal on. I think I told him for 2 months i'd buy them next week. He'd say just take em with you and pay me whenever. Other than the one I pay for my stuff up front granted never more than a few hundred. I'm also a hobbyist that likes nice tools. I got those wrench's yesterday, not because I really need them just felt bad I kept telling him i'd buy them (and hoping he'd sell them 
But he was going to repo a ratchet at the shop I meet him at. Said gave him $5 one week then none the next two, then found out he was stiffing some other SO drivers. Said he wanted his stuff back. Should have asked which ratchet
If its an interest free loan I can't see the harm, other than getting in to deep. But if you need it you need it.
But he was going to repo a ratchet at the shop I meet him at. Said gave him $5 one week then none the next two, then found out he was stiffing some other SO drivers. Said he wanted his stuff back. Should have asked which ratchet If its an interest free loan I can't see the harm, other than getting in to deep. But if you need it you need it.
jrbracing15
Active member
my snap on dealer has always said 10% of our bill min. but i usually run a tab on three trucks, and depending on the week pay anywhere from 30-50 per truck.
I pay my Snap On dealer $25.00 a week until my balance gets to $1500. Once my balance gets close to $1000-$1500 I'll give him half of what I owe him over a month. I do not get past $500 too often. I usally buy and Item and then pay for it over a two month period. The last big items I bought from my Snap On dealer was a MG32P 3/8 drive impact gun and a Heavy Duty Snap On Air Hammer. I bought both at the same time I think it came to a around $600. I've been dealing with two Snap On dealers since 1988.
csargents1546
Well-known member
I owe 30 a week to SO and 40 to Mac. Matco driver comes buy once every month, so I don't carry a balance with him, to boot he shows up at 5:30 on Friday. Don't know about everyone else, at that time I am ready to get out of work.
wannab20hatch
Well-known member
If they show up at lunch time or close to quitting time The last thing on my mind is tools. Im either hungry or tired.
Gtamazing
Banned
I think thats key. Once you have a really nice set of quality tools you slow down. I've been on a buying terror for the last year. I'm also starting a second apprenticeship as a millwright. I'm starting to slow down. My old lady was kinda pissed at first cause I was spending so much on tools. Then when I got a couple of fat raises due to my increased workload and started bring home big checks she was quiet.
mtkst19
Well-known member
im about 50 a week. my dealer will float me to a grand that i know of. never really went further than that. i try to pay it down as fast as possible.
my friend on the other hand--- his dealer will carry him interest free for 5k, and the rest goes on his snappy credit line. he pays atleast 250 a week. really, his dealer floats him that much credit because he always pays every week--even when not around he leaves a check. Way i see it-- it is like the dealer is getting a weekly pay check from my friend. He counts on that money weekly.
my friend on the other hand--- his dealer will carry him interest free for 5k, and the rest goes on his snappy credit line. he pays atleast 250 a week. really, his dealer floats him that much credit because he always pays every week--even when not around he leaves a check. Way i see it-- it is like the dealer is getting a weekly pay check from my friend. He counts on that money weekly.
None, but I have at least $50 a month to spend on tools. As much as possible, I only buy tools that I will really use. And as a weekend warrior, Craftsman, Gearwrench, HF, Kobalt and Husky are good enough for me. I would like to try Snap on pliers set and ratchets someday though, since I can get them at 50% OFF with the help of my brother-in-law (he works at Haas and the company pays 50% on any tool purchases).
kc-steve
Well-known member
This thread is interesting from the standpoint that truck tool sellers are probably benefiting from the "interest free" aspect. People would no-doubt spend a lot less if they had to pay interest on their debt. And there must be a lot of profit or mark-up in order to offer interest free credit.
Steve
sberry
Banned
Never made a payment to a truck but don't discuss tool purchases with my wife. Bought a new Mohawk Hoist and didnt ask for her opinion.
Benji
Well-known member
$50 a week to Snap On $40 to a independent truck that sells IR.
wannab20hatch
Well-known member
I learned from my dad to never discuss tools with the wife. Mine never sees tool purchases. We have seperate accounts. She does baby/food/cc/ her own car payment and I handle the rest. So much easier especially when she goes shopping.
craftsmanfann
Member
- Joined
- Feb 25, 2011
- Messages
- 10
i can sort of agree with what your saying but once you go into that agreement it seems that the tech is using his tools to make someone else money and not himself.
CaseyJoes.
Well-known member
I always pay in full anytime I step on the truck for something, but I spend probably an average of over $100 a week on new and used tools from various sources.
JMLoughrey
Well-known member
About $30 a week to my Mac guy. Never keep a balance more then i can afford to pay in one paycheck. Figure its same as cash, might as well float a little bit.
matco is $40 weekly
Bought some tools from e bay using a credit card- ranges from $20-40 weekly
cornwell- $20 weekly.
I usually spend about $500-$700 at a time and try not to get tools until I finish my payments.there are certain exceptions if I really need something.but its really tempting to not get out of hand when the truck pulls up lol.
Bought some tools from e bay using a credit card- ranges from $20-40 weekly
cornwell- $20 weekly.
I usually spend about $500-$700 at a time and try not to get tools until I finish my payments.there are certain exceptions if I really need something.but its really tempting to not get out of hand when the truck pulls up lol.
Appleyard
Well-known member
$25 a week to Matco credit.
$20-$100 a week to the Matco dealer for my truck account.
$20-$100 a week to the Matco dealer for my truck account.
airbuff101
Well-known member
- Joined
- Oct 31, 2006
- Messages
- 728
"Ebay is the tool truck thats always parked outside"
True.
airbuff
True.
airbuff
NJHandyGuy
Well-known member
Just paid off snap-on $40 a week to matco i have $1200 left to pay down
laughing my *** off...................
Yeah I got that. $15K on credit cards sounds like he's spending it as fast if not faster than he he makes it.
This thread is interesting from the standpoint that truck tool sellers are probably benefiting from the "interest free" aspect. People would no-doubt spend a lot less if they had to pay interest on their debt. And there must be a lot of profit or mark-up in order to offer interest free credit.
Steve
From what I've heard you can get much better prices from the truck guys if you wave cash around. I don't think they would sell half as much if they didn't have truck accounts to tempt the gotta have it now crowd. It's a crazy business that's for sure.
kc-steve
Well-known member
That was my exact thinking . . . seems the truck guys' profit margin would allow for some negotiation if someone pays in cash! (since others are getting free interest credit)
I have to buy all my tools for resale with cash (or Net due in 30-days pay back) just to keep my pricing competitive. The only time I ever use credit is when there are special deals I can't pass up but have no cash at the moment. In doing so, I can resell good deals, but sorry I can't afford to offer credit but PayPal will allow Bill Me Later for those in need. I think they even offer interest free on certain amounts paid back in 6 months or so.
But I'm out of the loop in that respect. Steve
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jethro29
Well-known member
$120.00 a week between truck and credit accounts.
davesnothere
Well-known member
25 a week to the snapman, unless I buy something, in which case I drop more on him so my balance doesn't get up there. I usually pay the macman in full when I buy stuff, because if I do, he won't charge me tax, and 9.3% is a *****.
oldwino
ALLIANCE MEMBER
SO TRUE
the wife would come out to the shop on occasion and see something new..."that looks expensive, when did "WE" buy it?"
When I'd tell her it had already paid for itself 2-3 times over, not another word was said
Dolsontools
Well-known member
this is not the case, at least not on my truck. for my business to operate correctly I rely on the guys that consistently make a regular weekly payment. so I typically give the best deals to the customers keep a balance on the truck and pay their agreed payment every week.
basically what happens is if you put an Item on your truck account. I get roughly ten more opportunities to sell you something else, before you get the original Item paid off. if you keep buying and keep paying, I'm very likely to give good deals or throw in free stuff.
if you pay in full, the next week when I stop by, you don't have to talk to me if you don't want to. thus not giving me the chance to sell you something else.
now I do know of some dealers that, if you pay in cash, will sell stuff under the table. i.e. no sales tax/ reported income. thats a whole other can of worms. if your dealer does this, I wouldn't look for him to stay in business long.
Dolsontools
Well-known member
honestly, I get 10 days to pay for most things I order from my franchisor.
Vinko
Well-known member
Wife is pissed my snap on payment is fifty every two weeks just curious what other guys are paying
Perhaps you can explain to her that these are the tools of your trade and a means to earning money, in addition to being tax deductible.
RhodesSpeedShop
Well-known member
$200-400 a week...no account though. Just cash.
Wifes on a need to know basis
Wifes on a need to know basis
kc-steve
Well-known member
. . . I have to buy all my tools for resale with cash (or Net due in 30-days pay back) just to keep my pricing competitive. The only time I ever use credit is when there are special deals I can't pass up but have no cash at the moment. In doing so, I can resell good deals, but sorry I can't afford to offer credit but PayPal will allow Bill Me Later for those in need. I think they even offer interest free on certain amounts paid back in 6 months or so.
Steve
Did you understand what "net 30" means? Or maybe you mean that your suppliers ONLY give you 10 days to pay in full with no interest. If I don't have cash then I can USUALLY pay within 30 days for NO interest payment. Credit cards not excluded as long as they are paid in full upon billing. That is standard practice for ALL BUSINESSES in the real world.
I'm an independent business owner and not under the thumb of a franchise.
Steve
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