How much do you want to spend on your tools?
Getting An Online Offer
Getting mechanic tool financing, even with bad credit, has never been easier. We help you by getting you access to a huge group of lenders online. Take a minute to review how the process works and how you get the money that you need for tool financing.
First, you need to fill in the quote form at the top of the page. Enter in how much you expect to need and some simple information about yourself. The form is short, so it should not take you long to complete it. Most people can complete the form in a matter of minutes.
Once you are done, agree to the terms and then submit your quote form. It then goes to the online lending group for a decision. If approved, one of the lenders from this group will make you an offer and you will be sent to their website to review the terms.
Make sure that you understand all of the details of the loan before you commit. If you have any questions, you will need to ask your lender directly. We ourselves are not lenders and do not make credit decisions. We will have no details about your loan.
If, after carefully reviewing the terms, you decide to accept the loan, your lender will get you the funds ASAP. This can be as soon as the very next business day. You will then have immediate access to your funds and can begin shopping for your tools.
Buying Your Mechanic’s Tools
If you decided to accept a loan, now comes the fun part, shopping for your tools. This is where an online loan has a huge advantage over things like store credit. Your lender will be depositing money directly into your account and that means that you can shop anywhere. Get the exact tools that you want from the store that offers you the best deal. You can even shop the used market and save hundreds of dollars.
When you are done purchasing your tools, you can use any money left as you wish. This is a cash loan from your lender, so if you want to put the remainder of your money towards a new welder, you can do so.
Should You Accept Financing
Just because you get an offer does not mean that you should accept it, especially if you have bad credit. A bad credit loan will come with some high costs, so consider a few things before you sign.
How bad do you need mechanic’s tools?
This will likely depend on how you plan on using the tools. If you are a professional mechanic, you likely need the tools to earn a living and may be willing to accept a higher loan cost. If you are a shade tree mechanic however, this might not be the case.
Do you have other financing options?
Next, take a look to see if you have any lower cost options. This might mean borrowing from friends or family or it might mean shopping for a used tool set. Consider what choices you have before you commit.
