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Outside of a deep wallet, I don't think I can narrow it down to just one tool because you don't do the same repair over and over. There are specific tools required for different jobs. I have a 50 year collection of hand tools, power tools, and test equipment needed for all aspects of car repair. The biggest grief in a repair is trying to work around a tool you don't have.
I dunno. Before I ever knew those existed, I rebuilt the engine, transmission, front suspension, rearend, and did all sorts of repair work. I just put stuff back on the reverse of how it came off. And all of that work was performed with a basic ratchet set, combination wrench set, assorted screwdrivers, hammer, etc. that all fit into a 14" carpenter-style tool box.
My last Alvin Lee show (since you brought it up). Up close personal show - small tavern/lounge ~500 capacity. I stood 5' in front of Alvin the entire show.
Keep On Rockin'
Long Legs
Hear Me Callin'
Good Morning Little Schoolgirl
Take It Easy
Slow Blues In C
Cannonball Rag
I Don't Give A Damn
Love Like A Man
I'm Going Home> First Encore
Choo Choo Mama Second Encore
Rip It Up
YouTube, good dexterity meat hooks, a common-sense brain to control both, 45 years of tool collecting, air and fire tools, and plenty of working fluid.
For the advanced commoner all the above AND A GARAGE WITH A LIFT!
bccan depends on what period of life is in question....when I was younger I'd choose the up n down to retrieve the right tool if I had it....now I have said tool but I'd cheat to avoid the up n down so I don't need a day and 1600mg of Ibuprofin to recover after a 4 wheel brake job on my F250.
Dang, I don't think I've yet encountered anything on the Olds that some basic tools couldn't handle. You musta had a possessed car to need that level of mojo.
i cant be without my torch, its a must in michigan.
Most things said above depending on what extent a person works on their own car. For me....auto lift and a powerful air compressor are must haves. Then, lots of specialty tools for body work, engine, and overall R&R. If a person is going to do their own paint work, sandblasting, metal replacement, engine work, and etc......then additional specialty tools are required such as a nice welder, sandblaster, bodywork tools, painting provisions, and then the whole engine tools piece.
A lot of great answers here, and a lot of funny ones, too.
A serious answer for me is a set of ratcheting wrenches. They may have had these back in the 80s, but I did not own any until I bought my Cutlass a little over a year ago. I can't believe how handy these are and how much I end up using them instead of a ratchet and socket.
Patience, that is a tool that will serve you daily when dealing with old cars..they are old, you do not work on them daily so many of us are shade tree mechanics so patience is a must..along with Youtube!,lol