krusty the clown
Member Emeritus
when the contract is payed in full the lien is released.
Who here won this box for $6k
- Thread starter Nealcrenshaw
- Start date
when the contract is payed in full the lien is released.
southernfriedcj
Well-known member
In Georgia the cabinets could not be repossed. The cabinet guy could file a lien within 60 days of the install and he would have one year to file a civil suit or the lien would expire. You can not get a valid lien release until after the job is paid.
We used prefab cabinets so we would have to get lien release from our cabinet guy and his distributor. Huge PITA.
southernfriedcj
Well-known member
That's out of left field.
I see a civil discussion about truck tool box financing.
Who has a sense of entitlement?
Why lock the thread?
krusty the clown
Member Emeritus
thats fine but my thought's are drawn from first hand experience DIRECTLY related to tool boxes, not cabinets or tires.........
i'd be interested in his opinions IF he had a copy of a contract in front of him. i'm pretty sure the tool companies lawyers have done thier job's to protect the companies interests
i'm not sure where they are filed but i'll make the assumption it is filed with the state in which the contract is written. the signed UCC gets sent to the finance company with the signed contract, and they in turn file it with the state.
Yeah..Makes sense, i dunno he might have just taken extra precautions to protect himself. I remember it was a bad deal for him. I guess maybe i was thinking that the Wood/Hardware provider would be similar to Matco, then when he paid the builder that would be similar to paying the tool box owner so theoretically there would still be a lien possibly. Dunno iM confused now.
Lookin4'67Galaxieconv
Well-known member
Bottom line is, you buy a newer toolbox that cost or retails for several thousand dollars and you don't check with the manufacturer to see if it has been paid in full by the original buyer, then you run a risk. And that holds true no matter what you pay for it, but esp. if you're getting it for very little.
I know there are some people on this board that think this is bullsh/t. Southernfried, I see your point of view and I don't necessarily disagree with what you've written, but as a buyer you need to protect yourself. If it's too good to be true, it probably is. Personally, I wouldn't feel comfortable buying something I suspected had money owed on it, but that's just me.
I know there are some people on this board that think this is bullsh/t. Southernfried, I see your point of view and I don't necessarily disagree with what you've written, but as a buyer you need to protect yourself. If it's too good to be true, it probably is. Personally, I wouldn't feel comfortable buying something I suspected had money owed on it, but that's just me.
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OP
Nealcrenshaw
Well-known member
HI there.I'm still haven't heard how Matco is suppose to find me,if they needed to.
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X1 Mike
Well-known member
i'd be interested in his opinions IF he had a copy of a contract in front of him. i'm pretty sure the tool companies lawyers have done thier job's to protect the companies interests
Just looked up Danaher in the Fortune 500 list. I'm pretty sure a company that was ranked #213 in 09 has some better than average lawyers. I could be wrong though, there is always a chance they overlooked the little known "Finders keepers, losers weepers" statute.
Just looked up Danaher in the Fortune 500 list. I'm pretty sure a company that was ranked #213 in 09 has some better than average lawyers. I could be wrong though, there is always a chance they overlooked the little known "Finders keepers, losers weepers" statute.
I wouldnt say giving a honest price for toolbox would constitute "finders keepers, losers weepers" To be honest i would have never even thought about checking to see if there was lien on the toolbox before i purchased one, Or any tool for that matter. In all seriousness there has to be some protection for the purchaser, What if the toolbox was sold thru a auction service? I can understand the Tool companies gripe about losing a big ticket item that was sold under a contract on weekly terms but I personally would have problems with any liability on my part if i was buying it second hand. If this is such a big problem maybe they need to come up with "Tool box" titles so the government can tax us anually on them and they can transferred legally.
When I was looking at used boxes I asked the seller if all loans were satisfied. All except one said yes, I have the paperwork. If a seller cannot offer proof the box is paid for, I wouldnt bother...... of course I'm speaking of boxes that are a couple years old.
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Merkava_4
Banned
I'm still haven't heard how Matco is suppose to find me,if they needed to.
All they have to do is look for the big handsome black guy with the giant ***** that requires 2 gallons of blood to become fully erect.
I'm still haven't heard how Matco is suppose to find me,if they needed to.
When they go to the seller and ask him where the box went, I'm sure he'll be forthcoming with the info about the buyer.
Another question...
Is the original seller allowed to merely sell the box to someone else without some sort of transfer of ownership? Does the contract say he cannot do so without form XYZ?
Lookin4'67Galaxieconv
Well-known member
I'm still haven't heard how Matco is suppose to find me,if they needed to.
Matco is going to ask the seller where the box is after he stops paying on it.
And the seller is going to tell them Neal Crenshaw from Cleveland, Ohio bought it.
Lookin4'67Galaxieconv
Well-known member
All they have to do is look for the big handsome black guy with the giant ***** that requires 2 gallons of blood to become fully erect.
Jeezus Christ Merk, wtf?!?
Merkava_4
Banned
RbrtAWhyt
Well-known member
Not in Georgia. Its not stolen property if it came from the buyer. This would be a 100% civil case.
X1 Mike
Well-known member
Jeezus Christ Merk, wtf?!?
I'm still trying to scrub that mental picture from my mind.
M900
Well-known member
Matco is going to ask the seller where the box is after he stops paying on it.
And the seller is going to tell them Neal Crenshaw from Cleveland, Ohio bought it.
And what if I make up an email address for the sole purpose of buying the toolbox...and I tell the seller a false name? I call him from a payphone. Thats standard operating procedure for me.
Now, Im not going to buy a box if I suspect its lifted but the point is made.
Matco Will contact the seller, but that doesnt mean theyll get their money from the buyer...
Lookin4'67Galaxieconv
Well-known member
If you're going through all that effort, why not take a few minutes to call the manufacturer with the serial number to verify the box has been paid for?
If you feel the need to make up a fake name, that's evidence enough there's something off kilter about you and you are consciously taking steps to buy property you believe doesn't completely belong to the seller anyway.
Why would you need to make up a fake name if everything was above aboard?!
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Adam McLaughlin
Well-known member
All they have to do is look for the big handsome black guy with the giant ***** that requires 2 gallons of blood to become fully erect.
JESUS Merk.... Woof!
I think you need some more things to occupy your mind.
Adam
Diesel_Crawler
Well-known member
It's really not, I wish they would put more emphasis on a search button so we don't have this worthless content brought up again and again.
M900
Well-known member
Fake names are SOP in my line of work.(My job is legal, The local officers know me and what my job is...they dont know my real name though.)If you're going through all that effort, why not take a few minutes to call the manufacturer with the serial number to verify the box has been paid for?
I WOULD call the manufacturer with a serial # and ask. I dont need to help random people being able to find out where I live. They can do it by themselves, why should I help them?
If you feel the need to make up a fake name, that's evidence enough there's something off kilter about you and you are consciously taking steps to buy property you believe doesn't completely belong to the seller anyway.
Youre assuming...
What steps am I taking? And how do those steps have anything to do with stolen property?
Why would you need to make up a fake name if everything was above aboard?!
I can count the number of people who know me by my real name on one hand.
The only thing I need to do is breathe and die. I WANT to make up a fake name to protect myself. Just like a class III owner buys his classIII weapons through a trust.
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Joe H
Well-known member
All they have to do is look for the big handsome black guy with the giant ***** that requires 2 gallons of blood to become fully erect.
Leave it to Merk to post the most F**ked up things I have read on this forum so far.
Lookin4'67Galaxieconv
Well-known member
That's great to know.
M900
Well-known member
You asked...
Lookin4'67Galaxieconv
Well-known member
I think you're either paranoid or have an extremely high opinion of yourself.
But hey, to each his own!
Merkava_4
Banned
I think Neal is blushing ... come back Neal, don't be shy.
As I posted earlier, and apparantly started all this nonsense, afaik Matco is the only manufacturer that actually does keep a central record of serial numbers. So for sure, calling them on a used box of theirs is a really good idea. But the reality is I don't think they really care.....
I went to look at a Matco tripple bank, loaded with tools. Guy says he bought it from a friend. We agreed on $7K. I called Matco with the serial no. and $8.5K was still owed by friend. Current owner has no desire to pay Matco. I walked. I asked Matco if they wanted to know the location of the box, (mind you I had to ask them!). They said yes, and they would have it reposessed. All I know is that the same guy was still trying to sell the same box 6 mos later on Craigslist.....so I presume Matco did nothing.
I think the bulk of the burden for unpaid boxes falls on the dealers. Ask any dealer, and I'm sure they can tell you stories of repossessions, I presume some with help of local LEOs.
I went to look at a Matco tripple bank, loaded with tools. Guy says he bought it from a friend. We agreed on $7K. I called Matco with the serial no. and $8.5K was still owed by friend. Current owner has no desire to pay Matco. I walked. I asked Matco if they wanted to know the location of the box, (mind you I had to ask them!). They said yes, and they would have it reposessed. All I know is that the same guy was still trying to sell the same box 6 mos later on Craigslist.....so I presume Matco did nothing.
I think the bulk of the burden for unpaid boxes falls on the dealers. Ask any dealer, and I'm sure they can tell you stories of repossessions, I presume some with help of local LEOs.
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Joe H
Well-known member
I think Neal is blushing ... come back Neal, don't be shy.
I think you scared him away. Not surprising either.
GeorgiaHybrid
Well-known member
I think Neal is blushing ... come back Neal, don't be shy.
Merk,
There are times that I think you need some SERIOUS help. I understand that there is a clinic (Pine Grove) in Hattiesburg, Miss. that specializes in your particular problem and may be just what you need.
After all, if it's good enough for Tiger, it's good enough for our Merk....
I'm with Skyline, it is a no brainer if you are looking at a Matco box. Call Matco and be sure. But when Snap-On and potentially other companies can't even tell you if it is paid for or not by serial number, then you can't really do much but go on the seller's word that it is paid for if they don't have paperwork. What else could you / should you do?
mossyboy6
Well-known member
if that is true, you either have a crazy or a sad life.
OP
Nealcrenshaw
Well-known member
Thanks for the compliment Merk,although i don't think other members wanted to read that.
But i guess to each his own, If i can find this size box for that price i'll be all over it. I have been seeing some nice boxes on EBAY lately.
But i guess to each his own, If i can find this size box for that price i'll be all over it. I have been seeing some nice boxes on EBAY lately.
If you finance the box thru Matco, it makes sense that Matco owns the box until the buyer pays for it. If the buyer sells the box to you before he pays off Matco, you don't own the box, Matco does. I'd think Matco would go after the guy who signed the contract, even if he wasn't in possesion of the box, he's still the target
daveblank
Well-known member
I'm still haven't heard how Matco is suppose to find me,if they needed to.
2 ways...
In court the original buyer says "Whell I don't own it anymore" & then the judge requires him to tell whom he sold it to. When I was a tech, I saw this happen. They then went to the too distributor that he traded it to. That distributor had to pay for the box or it was being repoed from the guy that he already sold it to. He paid & then had to take the tech to court. He ended up with his box back & a judgment for the difference. Last I heard, the tech still hadn't paid.
Or, you think it's all free & clear. 3 years down the road a slide fails. You then ask your favorite tool man to warranty the slides. Matco requires the serial # for them to be warrantied. What, the tag on the back has been removed? No problem, there are others! Matco now has the serial #, shop location, & current owner's name. Box found!
We have a few local Snap On guys that automatically check the serial # on the boxes of any new techs in a shop.
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krusty the clown
Member Emeritus
of course they will go after the guy who signed the contract. but they will also reposses thier property from whoever has it in thier possesion.
krusty the clown
Member Emeritus
it depends on the type of contract, some are fully recoused to the dealer, some are not. the dealer is required to do the repo if the box is in his area. when the repo is done the disrict manager sets a value and the dealer is charged with a percentage if he takes possesion of it for his inventory.
in my experience the police will not help with a repossesion.....
I agree they will try to repossess, they'd have to find it first.
I never really thought of the consequences of buying a used box, it would be best to call in the serial number before making a sizable purchase on a newer box. On an older one I wouldn't be as worried but I suppose it could still be the tool companies box?
Lookin4'67Galaxieconv
Well-known member
If the box is several years old, I wouldn't worry too much about it. Couldn't hurt to do a little legwork though. And if you ask the seller what the serial numbers are and why you want them, and he tries to avoid giving you the info, that should tell you something is up.
I never have had an issue like this b/c my newest box is a 15 year old Craftsman!