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The rivets are cheap. The HD part number is 90965-63 and a bag of two dozen costs about $1.50. The tool, on the other hand (HD-39787A) costs around $175. I've seen them on eBay for a lot less (V-Twin Manufacturing 161610 ~ $92.) Unless you plan on going into business replacing latches it's hard to justify the cost. Fortunately, it works for most any similar rivet - saddlebags, etc.
Nice I see this is an old thread. I too am retired from Aircraft Maintenance. Would be a real easy fix with solid rivets. But I am like you if I can buy a tool and only use it once vs taking it to the Dealer most of the time I'm all in.
Just to keep the info centralized, I have a loose tour pack lid (sounds like a personal problem!) and I am NOT paying $180+ for what amounts to a C clamp. Some internet research pointed me to a solid rivet kit from Eastwood, which is basically an air hammer and punch with a rivet shaped cup at the tip. I am going to modify one of my air hammer punches to see if that works. I'll update next week with the results.
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