Reviews

Review Details

• Review fromC. W.

  Date: 09/29/2022

  1 star
  Buyers remorse forsure. I was dooped into a tool box purchase by a slick snake tongued sales guy. That made everything sound workable while i was apprenticing in my company not making nearly enough. Stiffed me with 18% interest when I have perfect credit I now own a 6300$ tool box that's not worth half. When I called matco head office to complain and get it fixed was laughed at by the teller lady which was just as disrespectful. I had to use my line of credit to pay it off to make any sense of purchase the tools I bought are junk. Head lamp with 2 batteries said to have 8 hr life don't last more then 5hrs and there 3 yrs old was given 7 yr warranty with truck guy but he moved in and new guy wouldn't cover the warranty. If your getting into the trades that require tools do not purchase off matco. If in ****** ****** in tire has better quality stuff. MATCO has lost my business and I will never recommend them to any of my apprentices. Very disappointed and feel I was royally taken advantage of as a consumer.
  

  Matco Tools Corporation

  Date: 10/04/2022

  *** ***** completed an application for Matco Tools Financial Credit with a local distributor on February 1, 2019. He signed a contract for the financing of a 4 Series, 2 Bay Toolbox on the same day. Although Matco Tools provides financing, customers have the option of paying with other forms of payment, and financing through other sources such as banks and other financial institutions. *** ***** made the decision to finance his purchase through Matco Tools. Matco Tools distributors do not force or coerce customers into financing with Matco Tools.
  The financing agreement *** ***** signed is a commercial contract, not a consumer contract. Commercial lending laws do not require the interest rate to be disclosed on the agreement, however the Time Price Differential, which shows the total dollar amount of interest, is present on the contract. The interest rate is based on the applicant’s credit history and ranges from 6.99% to 23.99%.
  According to the attached sales receipt/PSA contract, the local distributor sold the toolbox to *** ***** for the agreed price of $6,541.65. After a trade in credit for a Master Craft Toolbox ($2,641.65), the addition of sales tax ($195.00) and a standard administration fee ($70.00), the principal balance on the account was $4,165.00. The Terms of Sale section of the sales receipt/PSA contract discloses the Time Price Differential or interest payments ($2,267.40) that will be paid during the entire life of the loan pursuant to Rule of 78 calculation method. As you will note, the Time Price Differential is added to the Principal Balance for a Total Time Purchase Balance of $6,432.40.
  A creditor is not responsible for making decisions on a customer’s ability to pay, other than to run the individual’s credit to determine if they meet the criteria for credit to be extended. It is also not a creditor’s responsibility to make sure that a customer reads what he or she is signing. The customer is ultimately responsible for ensuring he or she knows the terms of a legally binding contract he or she is signing. *** ***** can contact Matco at 866-BUYTOOL (866-289-8665) for assistance with the warranty of any tools.

  C. W.

  Date: 10/04/2022

  This maybe the legal aspect of how it all went down sure but the correct I fo about ****% to 23% is incorrect actually because I questioned an online associate about this when my credit is very good seeing I bought a house right after buying toolbox I was told they give no less then 11% Interest on financed products when I called to complain about the fact that I was given 18 % rate which I was " NOT TOLD ABOUT UPON SIGNING " and paperwork didn't come till first pay period in which I had also been paying above agreed payment for quite awhile finding out later I just paid mostly interest off. Second of all the associates i called to talk with attitude and lack of customer care or concern including the sales rep was were I got fooled and suckered was disgusting as a customer dropping alot of money to be treated as such shows poor customer service. I will not call about warranty that's the job of the dealer that cones to shop to help me with my job requires me to have tools working and ready not wait for repairs or warranty claims to go through then mail me stuff. I can get warranty from canadain tire just going in. Despite this back and forth businesses always win in the end they got my money and showed me there's no customer care or concern. ******************** has lost my business and I will not promote this business or product further I'm stuck with it extremely disappointed and recommend if any ine chooses this product read every line in any contract before signing casue what they say and ******** do is not fact.

  C. W.

  Date: 10/04/2022

  Just one last thing cause I've had my time and money wasted long enough with this business. Don't listen to all they say or promise I had paid a substantial amount down in my first yr well what I thought was substantial to pay off the 4165$ but know this that's where they get ya you pay more interest then principal as for the tools them selves I've had many issues with the products I've bought. Canadian tire has better tools and easy return and warranty polices it's a huge issue to get what you need repaired or serviced it's a long wait for warranties and repairs. And again it's my word over a corporation in the end they took me for all they could and failed at customer service.