Ever thought to rent out your tools?

[TTU03]

The first time I swapped out my springs and shocks I used a hodge podge of tools that were not ideal. Some were borrowed, some were old/sketchy, and I lacked all the ease of life items. I got the job done but probably spent twice as long compared to having the correct tools. Slowly I have been filling in the gaps. Black friday deal for rigid high torque 1/2 impact kit, sets of 6 ton stands, 3 ton floor jack, torque wrenches, spring compressor ect... I was looking at these particular tools and realize I use them fairly seldom after the main use for suspension work, maybe tire rotations. I had the thought that other weekend wrencher folks are in the same boat as me. Why spend the money on seldom used tools.

It crossed my mind to list the tools in a sort of package deal for say $25-$50 a day. I would have to get some sort of deposit in case the person takes off with the items or damages them. Its fairly easy to set up credit card processing with an iphone. Could just be a large headache but also a potential to pay myself back for the tools and keep possession. Maybe just maybe earn enough for the next mod(armorlite). I would not think there would be much demand but over a year or two it could add up.

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[TestMule]

Nope...mine will be staying in my toolbox & roll away until I need them.

 

[Hootbro]

Your tools will come back broke looking like hammered dog shit. They will expect you to be tech support for whatever they are doing. Then there is the liability if something catastrophic happens because some dude does not know how to use a jack stand or something similar and crushes themselves.

Go to AutoZone and look at the condition of their rented tools and you will get an idea of what a bad idea it will be.

 

[TTU03]

Your tools will come back broke looking like hammered dog shit. They will expect you to be tech support for whatever they are doing. Then there is the liability if something catastrophic happens because some dude does not know how to use a jack stand or something similar and crushes themselves.

Go to AutoZone and look at the condition of their rented tools and you will get an idea of what a bad idea it will be.

When I was looking at floor jacks, there were reviews left by people who used the jack to suspend their vehicles while working under them. Pretty scary.

 

[IamPro2A]

Nope.

As a rule, I don't even loan tools to friends. I'll come help you with the job, and I will bring all the tools needed. Too many times I've offered to help someone with something, and they say "don't worry, I have all the tools" and I get there and they have a $10 socket set, 3 rusty wrenches, and a screwdriver with the tip broken off.


I once lent my best friend my ball joint press. He was being a bit slow and evasive returning it, Turns out he didn't know the ball joint was riveted and bent the press. It took him like a month to track down the exact same brand press I had and replace it. That was good, but glad I didn't need it myself in the meantime.

 

[Sandevino]

Nope. I spent 20 years and $400k amassing these tools. Go get your own...

From the business perspective, you'll need a good legal team and insurance to rent anything to anyone that has no business using these specialty tools. One oopsie, someone gets hurt and they'll come after you for failure to maintain the tool they misused.

 

[legacy_etu]

Nope. I spent 20 years and $400k amassing these tools. Go get your own...

From the business perspective, you'll need a good legal team and insurance to rent anything to anyone that has no business using these specialty tools. One oopsie, someone gets hurt and they'll come after you for failure to maintain the tool they misused.

$400k !! Good god man, how is that possible? Is that including lathes, ball presses and heavy equipment?

 

[Sandevino]

$400k !! Good god man, how is that possible? Is that including lathes, ball presses and heavy equipment?

I‘m a retired heavy diesel mechanic that worked on everything from heavy haulers to excavators. Each manufacturer has their own specialty tools, diagnostic and chassis equipment.

 

[legacy_etu]

I‘m a retired heavy diesel mechanic that worked on everything from heavy haulers to excavators. Each manufacturer has their own specialty tools, diagnostic and chassis equipment.

Can you sell all that gear and get a decent amount back? I mean, you are retired, right?

 

[Freems]

Can you sell all that gear and get a decent amount back? I mean, you are retired, right?

Ok, woah just a second here…sell your tools? That is absolutely blasphemy. You can Trade out your 1” drive tools for something more retiree oriented, but you never ever sell tools. That’s just young whipper snapper talk.

 

[legacy_etu]

Ok, woah just a second here…sell your tools? That is absolutely blasphemy. You can Trade out your 1” drive tools for something more retiree oriented, but you never ever sell tools. That’s just young whipper snapper talk.

LOL. Well normally I’d agree with this,, however it sounds like very specific diesel tools that as a retired mechanic he wont be using again.

 

[Sandevino]

Can you sell all that gear and get a decent amount back? I mean, you are retired, right?

I’m 46 and have retired from over the road heavy diesel work and am in IT now. I still do work on the side and will never sell my tools.

 

[swtrailboss]

$400k !! Good god man, how is that possible? Is that including lathes, ball presses and heavy equipment?

That’s the world of being a mechanic in today’s cars! “ A lot” is covered by the dealership but 400K is not out of line for someone who has been it for 20+years. You can always account 1/3 (maybe a little less) of your income being towards tools annually. We all know what our weekly payments to the Matco or Snap-on tool dealer was. We don’t consider that until we read a forum post 20+ years later and we realize how much of an impact they have made to our decisions to purchase .
Rental liabilities pending on the tool application……Definitely no, but some tools such as a socket or maybe something a little less of value? Consider how many time you have used it versus the risk of return in poor condition and will you ever use it again? Will it have paid for itself? Just my opinion…….

 

[Rusty PW]

I've got over $60,000 in 1980 dollars worth of Snap On and other tools. Hate to see what that would be in today's dollars.

 

[kevman65]

When you get back a damned good torque wrench that has obvious signs of a cheater bar used and the head blown apart, you don't let your tools out of sight ever again.

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