Got an old Snap On tools one and it works Great!
If you have a dead short, just hook it up in place of the fuse and it will start doing a momentary current apply sorta like a flasher and you simply run the induction meter along the wiring harness until the meter either stops bouncing or points in the opposite direction. This locates the exact spot of where the current is going to ground. It has helped me many times over in finding a short. Not sure they make this one any more, it is a very good tool to have in your box... 
You cannot perform this function with a multimeter!
