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MIG equipment is cheap. Why would you want an alternative?
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How can you compare the cost of a Mig welder, plus gas and wire, to the price of a tube of this adhesive, in the case where the owner simply wants to do a few small cosmetic repairs? I've known lots of people with rusty wheel arches, floors, outer rocker panels, door corners/bottoms, etc., that had to get a bodyshop to weld in the pieces for them because they didn't have the equipment to do it themselves. Many folks don't want to invest a lot of money in bodyshop work, or equipment either, for these small jobs, but want to do it themselves and achieve something better quality than pop rivets and kittyhair.
Also, if the repair is adjacent to gas lines, interior cloth, undercoat, etc., basically, in areas where fire is a real danger from the heat and sparks from mig welding, or in places that it's a real pain to weld, this type of product is a great alternative.