For years, after removing or inserting a screw, I'll grab a bit that falls out and put it back in the magnetic holder for the next screw. for years. I've always hated magnetic holders, but they're better than nothing, right? Never. That's great. It grabs the bit and won't let go until you slide the collar down. So, two options: 1. Leave a small gap between the clutch and the chuck so you can slide the clutch down and change bits. 2: Remove the entire assembly from the chuck and then replace the bits. Or it works fine. I like to leave some space so I can swap out bits on the fly. That means you need to tighten the chuck as tight as you can, but think about it that way. You never had to remove the knot once it was attached (unless you need to use a drill), so pull it tight. I only wish I had a wrench chuck so I could tighten it nice and tight. Good product.
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