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Checked ereplacementparts.com. Craftsman Heavy Duty Router | 31525070 | eReplacementParts.com

Most parts are no longer available. May be time to replace with a Bosch or some other brand that's been around for awhile. Craftsman (Sears) is an unreliable company the buys relabeled machines.

The problem is who made what. Here's an excerpt from the Wiki listing for Craftsman. It provides some clues as to who else you might check. https://en.wikipedia.org/wiki/Craftsman_(tools)

Many Craftsman portable power tools have been manufactured by Techtronic Industries who acquired the prior supplier - Diehl Motor Company (a one time division of Singer) and Ryobi. Sears hand power tools have also been produced by DeWalt under the "900" model prefix. Some, such as the corded and cordless drills, were indistinguishable, other than the color and decal labels. Many Craftsman bench and stationary power tools were manufactured by Emerson Electric Company under the "113" model prefix (previously under the "103" model prefix which was King-Seeley, but Emerson bought them out in the 1960s) and DeWalt.[4] Air compressors were manufactured by DeVilbiss Air Power (formerly part of Dewalt. DeVilbiss is now owned by MAT Holdings who made compressors for Sears under the "921" model prefix), and formerly by Campbell Hausfeld under the "106" model prefix.
 

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We get a pretty constant flow of requests for help with Craftsman products. Unfortunately, the company changes manufacturers often and so the makers don't bother making extra parts. In the end, most wind up either finding something in a pawn shop or occasionally on ebay, but mostly they wind up buying new machines from the better tool makers. That collet is NOT how they are made anymore. Stanley seems to have bought up all these brand names, but I don't see any effort on their part to supply obsolete parts.

Collets are very precise devices that rely on maximum contact with the bit's shank, which may be spinnint at 22,000rpm. The difference between loose and tight is a few thousandths of an inch. Compare this modern collet to the Craftsman:
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