Take Out a $170,000 Loan for a Job? 

He’s so naive but very smart to call in Ramsey for advice. I hope he listen.

NO dude, don't do it!!!

I'm always reminded of the scene where Micheal is pitching his business investment to The Office and Jim walks up and draws a pyramid around it

I've never seen a tool truck parked outside a nice house. I've seen plenty of them parked for the night outside apartment buildings and small rentals. Might be an indicator of what the true income really is.

Man. Who is at the top of this tool hustle empire? All the workers get sold tools on $20,000 of debt by the truck owners, all the truck owners get their truck on $170,000 in debt…

This is either a scam or an MLM. Nobody makes this much in door to door sales despite what gurus say online.

As a mechanic for 25 years, I would say that every job is probably really good as a hobby but once you do it for a living, it starts to suck a little bit mechanics top of that list for me

When he said he was 19, I understood why he fell for this MLM scheme.

Hayden go to trade school and cash flow it. Maybe become a car mechanic. You were smart to call Ramsey.

So glad the RAMSEY TEAM threw a “WRENCH” on this idea- & that they “HAMMERED” home good financial advice! 😂 👏

Don’t ever believe what a sales person tell you! They are the biggest liers😭

Oh, I love you guys, the best market analysis! Seriously, why not mention Eledator?

There aren't any guarantees that this guy will make $180K per year doing this job unless he is in a contract that specifically includes his compensation (which he isn't in this case). Tons of people have done what he plans to do and have found themselves in the middle of a financial crisis.

I encountered something like this, only it was selling water filters. Unless you have a passion for sales (I did not), it will not work. Not ever. $170k in debt will not work, period, regardless of how much passion you have for it.

I was a service writer for a couple years and most mechanics I know regret becoming one. They all hate their jobs; most service writers do too. This was back in 2011. I’m sure it’s so much worse now with new vehicles

Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.

If the money was quick then there would be a waiting list to sign up.

19 years old that is a ripe opportunity to get someone ripped off as they don't have enough life experience. Good thing he did not take out the debt.

This is the type of guy that sounds like he’s still going to do this anyways

You are a smart guy. You called before you took out the debt!

The amount of people you'd have to sell tools to, to make up for $170k is wild. Especially with Amazon as your competitor.

Bros making 15 an thinking he can make 180k a year? Sounds like a scam

I was once young. I went to one of these companies that sold a dream. Selling fire extinguishers. They said I could easily make 6 figures. And all I had to do was buy the promo kit, and they would give me the leads. I was 18. Thankfully, I said no. But how can these people sleep at night lying and misleading people. Sociopaths I call them.

Don't start your life out in debt. Just don't do it.

This sounds analogous to the Cutco knife selling company... who pulls the same stunt for college kids. They make the kids buy their over priced knives to show other people. The profit for the company comes from selling the knives to the college kids... who almost never make a decent wage. The knives are way over priced. I have never met a college kid who actually said that selling cutco knives was a good job. Frankly... get your self into a trade of some sort if you don't want to do to college. Something like carpentry, electrical work, plumbing. Trades are life skills, and if yoy ever decide to switch to another trade or go to college... you will develop a life long skill that is highly employable.

If you have the drive and ambition to make this truck worth it, then you have the drive and ambition to start your own business.

That's not a "job" it's a business. Good tool sellers make very good money. But they have to bust their butt, it's not for the weak.

Rule No 1. Never pay for a Job

$170k GROSS not net. The snap on guy that visits us makes 70-80k a year and he is always stressed out.

Here is a way to assess the legitimacy of it. Do they accept anyone as long as you pay. See an actual job or even legit sales position will assess your skills, qualifications, etc. Selling cars is a sales position but a dealership will not hire just anyone. Even in sales, when the only requirement is to put up money, RUN!!!!

I'm a 32 year old business owner. WHAT kind of person would try to talk a 19 year old into borrowing that kind of money for a "job"???

Great advice. This position might work for the guy whose dad and uncle were tool guys and who was hacking tools from age 8 and knows the shops and craftspeople who buy and use tools in the area. But you can’t sell tools if you don’t use tools and love to sell. Bless Ramsey advisors.

Tool trucks are on the way out (Well, not totally, but the business model is contracting). The chick is right...if you're not a truly good salesman, you won't make the big bucks. Considering the absurd cost of Snap-On, MAC,(etc.) tools, a huge number of mechanics are finding there are better alternatives online or from B&M stores. The glory days for tool truck brand tools are ending. Too much other just-as-good or even better stuff out there now for a fraction of the tool truck prices, and mechanics are catching on.

Snapon or Matco 100%. The Amway of tools!

Reminds me of when everyone was selling cutting knives

You can buy a bread route for less than half of that.

Sounds like a snap-on job. No way $100k +

As a person who worked in the automotive industry for 10 years, I can say that only dumb people in the shop get excited when the tool truck comes around.

Pretty sure there was a call in the past about a person who already bought a truck for work and went into financial trouble

Go get your CDL and drive for UPS making bank your investment is not anywhere near 10% of that $170k and you’ll clear 6 figures yearly

$170K to sell some tools out of a truck?? Yeah, there are definitely some tools in this story.

Like amazon drivers who got suckered into thinking it was a real job not a 3rd party scam

Hopefully homie stays away from this shit storm. Good advice by the Ramsey team.

Dude probably sees the snap on guy fleecing his coworkers and he wants in on that racket.

This concept is very common for any delivery. Bread, Soda, etc… you are an independent contractor and lease or buy your truck. When you retire or quit you sell the “business” you would have equity

Definitely Snap-on tools, extremely overpriced tools

My brother did that, over 100k in debt and after a crash he lost the truck… because of bad insurance (the one he went with to save money) he did not get any money for his totaled truck. Now he needs to pay back that money and has no truck to work with.

You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller

If you’re not in the financial market space right now, you are making a huge mistake, I understand that it could be due to ignorance, but if you want to make your money work for you prevent inflation

Being an auto mechanic is a terrible job. They don't make much and its hard on the body. Trades are good but not that one.

That was very generous of her. I did sales and I sucked at it. I started selling Cutco knives to my family members. I made no money because I couldn't sell one knife. And I quit after 3 days. Sales is slow when you're starting from ground zero. You have no clients and nobody knows you. It takes time to build trust and relationships . I would say expect to make zero for 3 to 6 months then sell 1- 5% on the average for the next 6 months. You're going to be working the whole time. Next year you may see a 5- 10% growth, your not going to see 170k that's the top 1% the unicorn not the average or below average.

So...basically, why would you dive under water to only have your hair stick out, rather than just stay out of the water.

It sounds like what they told me when I began selling tupperware and Avon. Except we just had to start with a basic kit. A few people make money, but not really.

Tool trucks aren't all they're cracked up to be, snap on are spendy tools and really as far as I'm concerned, they aren't worth their cost compared to some of the cheaper options. And the fact that you can buy online, the only people that buy from the tool truck are those in a pinch and need it right now and can't waste time waiting for the delivery. Save your money, go to a shop and become a full fledged technician, not just a tire guy

Mechanic here. Don’t do it! Understaffed. underpaid. Warranty times suck. You have to buy your own tools at most places. Constant training to keep up with ever changing products. break your body everyday to make the dealer all the money. While the service advisors and sales make more sitting on their butts telling you to hurry up.

He is definitely going to go into debt for that business coz his response at the end says it all. With some people, you can't help and have to let them learn a lesson.

This is NOT a job.

The thing is this is common in other franchises too. I have a relative in the commercial leasing sector and they see the most shady things that the franchises do to the franchisees.

Could you please provide me with your updated Discord ECOM link? The ones I've attempted to access indicate that the link has expired.

Talk to the many people who did it, and went broke and sold the truck for a loss.

I did something like this with selling fire extinguishers. I had to buy a ton of stuff to get started. I never sold a single one and was out a bunch of money. Unless it comes with the customers already, such as a vending machine route or ATM route, I wouldn't.

Hayden called the wrong people 😂😂😂 he's lucky Dave wasn't there he would get roasted 😅

lol if he wants to go that much in debt he may as well go to law school or something in medicine.. 170k… in debt to be a salesman. That’s absurd! The startup costs you work for someone else should never be that high.

At a dealer technician for 12 years. The money is good but it is going down hill. I would not recommend anyone to get in to it. We need guys but the brands are making it harder to make good money. The new guys do not get what the senior guys get. There are better jobs that pay more. Go become an electrician.

The mechanics who told him not to be a mechanic understand that doing that type of work every single day ruins their hobby. They can no longer enjoy working on and upgrading their own cars because they spend all day working on cars. That's what they meant by that.

Before putting yourself in that much debt do you even have the chops to do sales.. most people dont ..rejection , people skills , the art of manipulation.. how are you going to convince these people the tools they already have Stink so bad they should upgrade.. better gig find vintage tools and resell them .. estate sales thrift fleamarket.. people luv the vintage stuff that was made better and last forever

There is a very small portion of mechanics that are good enough to flag time and get rich on it. First you half to be in the right position with a shop that offers flag time and has constant business coming through. Then you need to be experienced enough complete jobs under the time those jobs pay so you can capitalize on flagging time. To do this you also have to have thousands to tens of thousands of dollars of your own tools. It takes years to build up to the level of mechanic it takes to make a really decent income (over 150k) but it is doable. I don't think most mechanics ever make it there though.

Is this snapon?

I shall start a Harbor Freight Tool Truck

The good news is nobody will give him 170 as a loan.

About $20,000 per year eating out...$68,748 per year tops.

Wonder if this was Snap-on? I think that he only heard the top of the range that was stated to him.

MLM scam, and a bad one! $170k to sell tools? For a "truck?" Most tools fit in a sedan. If you spend more than $27k, even on a brand new vehicle to do this, you are getting scammed!

He's putting a new motor in his 'vette at 19? He's going places in the mechanics world. I wish him well! GOD bless him with wisdom and shrewdness and maturity to handle all these questions he has and bring the right advisors in his life.

No!!! No !! I’m sure their tools are great but I never use them never will. Overpriced and it’s not something you should consider. Please listen to these Ramsey folks and all of us telling you no no no

Become of a mechanic isn’t worth it unless you can own the business. The cost of tools doesn’t offset the weak salary in ca😊

This call saved you Hayden.

So if it all goes as planned (180k a year) then he has to work a whole year for free. Not including interest, taxes and depreciation..

Don't forget to ask yourself how often companies buy tools? If the tools are good, maybe once every 10 years!

Isn’t this half of the plot from the pursuit of happyness

Go to tech school for diesel mechanic semi trucks are big in Houston

0ur son graduated from college with a degree in chemistry and business. He came home one day and said he had his first job, selling knives................We just about lost it. We said, you take those knives back and you will not be selling door to door with your education. We never knew exactly how he was talked into that. Anyway, he is very successful now and sells chemicals to businesses. He and his wife own three apartments. So he is good.

Would if you had been available before I started doing Uber...

I bought tools from one of these guys over 40 years ago. I still have them. Problem is once you have a good set of tools you don’t need anymore. It’s a tough living.

Generator Contract Sales can be a pretty good paying job. Selling rental generator contracts to clients.

I'd do it. It takes money to make money. 😮

Giving him the smoke!! Good one george!

I've been in commercial construction sales for many years and have talked to many recruiters over the years. I always hate the "uncapped unlimited earning potential" comments. I want realistic numbers of over the last 5 years the sales have been X and your total compensation can be Y. Unlimited earnings.......can I make a zillion dollars this year, no because the territory isn't that big and if I did you would split the territory into two. Always be careful with sales earning potential. Look at the car market, it was great the last 3 years but now is down.

I feel like 98 percent of people commenting don’t understand how the mechanic field works and how much money these tools actually are. I feel Dave doesn’t even understand the amount of debt mechanics now a days go into on these tool trucks. It’s mind blowing and I’ve been a mechanic for over 13 years. If Dave actually knew what these tool dealers did and how they can suck new young kids into debt he would probably go in a huge rant and start calling them out more often.

So Matco

As a person who works on cars for a living, my advice is don’t get into it. Unless it’s your passion or unless you’re willing to grind.

I was in software sales. I hated it, but made a lot of money bc I was good at it, but it made me miserable af!!!!!!!!!!!!!!

If I were him I would start his Career at a Walmart Auto Center and see if he liked that type of work first

CA Fast Food workers get $20 hour.

Hayden try selling stuff on your own. Zero cost to you and you will find out if you can actually sell.

I can hear the audio processing on the microphones has changed. It sounds much more compressed, unnatural, and is fatiguing to listen to for very long. Please put it back where it was before.

Probably doesn't get any inventory for that $170k either.

He could buy a cheaper van and start any number of businesses from that van for far less risk.

Almost completely sold Hayden, good thing he listened to his instinct and called the show.

A fun job for a young person (which can lead to moving up in the industry later on) is the aviation field...as a ramp fueler for civilian or commercial aviation, or an apprenticeship in an aircraft maintenance shop. Or working toward becoming a pilot. For a young person this can be a fun industry to get into.