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I wouldn't exactly say cheap tools, as much as normal tear-and-wear and the layer of paint, plastic (or whatever depending on your tool) that is used to prevent rusting has worn out due to prolonged usage.
Example, my jack stands. They are subject to friction from the car and the concrete (since I just leave them on the ground and they sometimes get dragged around), removing the paint on them. Add in water, and they will rust.
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