I purchased a box from the tool guy. He told me that the interest rate was 1.5 percent. I just looked over the paperwork and at the bottom of the agreement, the interest rate shows 18 percent APR. How can they do that?
"You needed to do the math before purchase. Now, depending upon what you signed, it may be too late! You need to have a chat with the tool guy. You need to clear up regarding what he told you versus what is on your bill. In 12 months times 1.5 percent equals 18 percent. You're signature is your most important item you will ever own. Always read the fine print before signing on that dotted line.
I keep turning in my impact gun for repair. The gun is almost two years old. But, the tool guy has had it more than half that time. I need my tools for work. Is there anything I can do?
"If you aren't getting any satisfaction with the local tool rep, maybe call the regional or corporate office. If you Google the tool company name, the contact information should appear on the page. Unless you are abusing the impact gun, it should give you years of great service. You need to get to the bottom of this repair issue."
Have an automotive service-related question for Pam Oakes? Email it to Tire Business Senior Reporter William Schertz at [email protected].
ASE-certified technician Pam Oakes is the owner of Pam's Motor City Auto & Tire Center, an award-winning automotive service business in Fort Myers, Fla. She also is the author of the book series Car Care for the Clueless and hosts a weekly radio talk show by the same name on CBS Radio's The Sky and CoachMeRadio. And yes, she still "turns wrenches."