Tool truck purchases question?

[muddyjoe15]

So this may be a stupid question, but im trying to figure it out. When needing a tool off the tool trucks, do you guys pay right away and up front? Or pay on a credit card, or have an account with the dealer? Im in need of some tools, but i dont have the money to buy them right out. Will they hold a purchase if i put some money down on it? Should i just keep borrowing co-workers tools till i have the money (I HATE BORROWING TOOLS!). I know going in debt is not the answer, but maybe having a tab with a dealer of say $100 every now and then cant hurt right? Just wondering how everyone does it?!

Im sorry for all the stupid questions, just new to the whole tool truck scene and trying to figure things out.
Thanks in advance.
TJM

 

[scott37300]

Do you work at a shop that the truck driver stops at? I'm going to guess that you don't from your post. I don't either but from reading on here there are a couple different ways people pay. One is cash or credit card. The other ways are snap on credit(credit through snap on) or tool truck credit. With tool truck credit the dealer extends you credit. I don't think you will get dealer credit since it sounds like you haven't delt with him yet and I don't think he would just hand you tools if you never seen him before but who knows he might.

 

[Farmrod]

I run a tab just make sure not to let it get out of hand

 

[jrbracing15]

pay an agreed amount each week. goes up the higher your bill gets. my snap on guy says no less than 10% paid on your acount. so if you owed 500, he wouldn't want you to pay anything less than $50. but its all up to your dealer. i usually pay 50 a week no matter what i owe. it works out good. i really never have a bill that high.

 

[canuckian]

I just buy small numbers of tools each visit and pay cash but if you're a working tech in a garage that he stops, you may be able to get some truck credit but I'd advise making a few small purchases paid in cash before you ask - gives the dealer a little confidence in you and develops a but of a business relationship.

 

[Ritter4.0]

I am not in the automotive industry and I hate borrowing tools, but I do it a lot. When I do, I always clean the tool off, and return it as soon I'm done with it. My main reason is my parents don't understand why I need these specialty tools, and why the company does not provide them. I don't have a credit card so I need them to buy it and pay them back with cash. I have been able to get most of my basic tools from here, craigslist, and the pawn shop with cash and money orders.


I have only bought 2 ignition wrenches off the Snap On truck so far. I just paid cash, and plan to for any tools I buy off the truck. I would just keep borrowing until I can afford to pay for the tool.

Because I borrow a few other people tools, I try to lend mine out whenever I can to return the favor. The shop I work in is small, and its not hard to track down a tool if its needed.

 

[toolfreak]

Just make sure it doesn't get out of hand if you do open a revolving account with the tool truck. I would make sure if you get laid off that you could afford to pay the bill without getting yourself in a bind. I usually ran a tab for the simple fact that the dealer didn't give any discounts for cash so I figured I would use interest free money and they tend to not question warranty items too.

 

[tooth]

I used to pay him with a check every time I bought something until he suggested to wait until it was a few hundred bucks to pay. Whatever works with the snappy man.

 

[muddyjoe15]

Thanks guys, i do have a truck come to my place of work (not weekly like my last one, but i believe maybe once or twice a month). I hear that the interest on Snap-on and other trucks line of credit is pretty steep is this true? Ill just buy with cash what i can for now and, get the trust bulit up then buy bigger items as i get to know the dealer.

 

[toolfreak]

Most trucks have revolving credit that is 0% up to $1000 (this varies with every dealer)

 

[muddyjoe15]

Most trucks have revolving credit that is 0% up to $1000 (this varies with every dealer)

I see, thank you.

 

[JMLoughrey]

yea, my Mac guy told me he'd offer a $500 credit, later on he said $1000 is cool. Once they get to know you, know you pay him every week. Its a comfort thing. I try not to let my acount get more then half a weeks pay, that way, if something does happen, i'm not totally screwed.

 

[D9H 90V]

Its very easy to let a RA get out of hand on the truck so be careful,

SO credits intrest rate is high I forget exactly what my rate is but I bought a $2,400.00 box and set it up for 3 years just in case, if I take the entire 3 years to pay it off i'll have ended up paying a little over $3,500, but its gonna be paid off by the end of this year if all goes accordingly

 

[davesnothere]

"Small weekly payments" is my snappy dudes favorite thing to say.

 

[toolfreak]

I had one dealer that was comfortable enough with a couple guys that he did an interest free loan for a tool box but they were good customers that he took care of for 10+ years.

 

[PT Doc]

Its very easy to let a RA get out of hand on the truck so be careful,

SO credits intrest rate is high I forget exactly what my rate is but I bought a $2,400.00 box and set it up for 3 years just in case, if I take the entire 3 years to pay it off i'll have ended up paying a little over $3,500, but its gonna be paid off by the end of this year if all goes accordingly

That's 46%!

 

[tbobbo]

I have always had a truck account, none of them have ever charged me interest. I also bought a toolbox from snap on and used their credit and it was VERY low interest. I would have paid 500 bucks if I went the full term on a 4000 box. That was way better than the bank. If a new guy comes along, I start small and build my way up with bigger and more purchases. I have even paid weekly untill I had enough for the tools I wanted. They like that to show good faith.