tool loan
 

I'm about to take out a loan for tools, does anyone have any experience with this?
I'm sure as hell not going through Snap On with a ~20% apr.
Is this something I could get a secured loan on?
whats a good intrest rate to look for on something like this?

Re: tool loan
 

I doubt they will do a secured loan on something without a title. They can't prevent you from selling it. You would likely be looking at an unsecured loan, which if you are young might be rough. Can you take out student loans?

Re: tool loan
 

Dont go to Wells Fargo, those sons of bitches!

Re: tool loan
 

Or get some less expensive tools? Some of you guys wrenching all day long may have a different opinion, but I would get Craftsman if I were you. I've been using mine for nearly five years and every time I've broken something (a3-4 converters and one 1/4 socket wrench) they've replaced it no questions asked. I've used Snap On, Mac, and Craftsman tools and Mac was by far my least favorite, but honestly I dont give two shits either way Snap On or Craftsman, except that the Craftsmans have the same warranty and cost a fraction of the price.

Re: tool loan
 

MAC is owned by Stanley. I actually like stanley tools, I have beat the crap out of them and they refuse to break. I finally cracked a regular 1/2" socket after using it a ton on the impact gun. Husky is another good option.

Re: tool loan
 

I like Craftsman myself. After years of hearing my co-workers talk about how you have to use Snap-On in case something breaks back when I was a grease monkey, I paid half of what they paid and rarely have ever had to have a tool replaced under warranty. For full time mechanics, as long as you have friends there, borrowing a tool for a few minutes isn't any big deal, then you go swap your broken tool after work or at lunch. Their credit card is a bit better deal than Snap On as well, just don't miss a payment.

Re: tool loan
 

I got pissed at school when using the closed end of a snap on wrech it broke and I ended up punching myself in the face because of it. Fuckin snap on! BUT my teacher did a cool test...
Had a plastic nut about 1" long and used a craftsman wrench on one side and a snap on on the other side(closed end of the wrenches), the craftsman stripped the nut before the snap on did. Then he did the same thing with a snap on and a mac and the mac stripped the nut.
Just a neet little test that showed that there is kind of a difference. When I was in school I used everything from snap on, mac, matco, SK, craftsman. I personally have craftsman and like them. But any of them are ok(except SK they suck)

Re: tool loan
 

Search? I know we have talked about tools befor.

~John

Re: tool loan
 

snap on=craftsman. they are the same company, craftsman owns snap on. thats why the craftsman wrench's are a different design now and are getting better. i personaly like matco, but i use everyones stuff

Re: tool loan
 

I'm asking about tool loans :smile:

Re: tool loan
 

There is no way you will be able to get a secured loan for them.

If you are lucky you might get a 0 interest/payment option for a while but don't plan on it and it still compounds eventhough you aren't making payments!

I would try like a local credit union or bank or something!

Re: tool loan
 

So, how fast does 0% interest compound? :lol:

Re: tool loan
 

It's always compounding continuously except for when it doesn't compound, which is always, or in this case never...

Know what I mean?

Re: tool loan
 

Just buy them on a truck account if you can afford the payments.

Truck account = no interest

Re: tool loan
 

The problem with a truck account is the limit, which will vary on the Snap-on guy and what not.

~John

Re: tool loan
 

you can get a personal loan from the bank. thats what i did when i was in school. it was like 9% interest