Is it worth is to ever buy a new truck again vs maintaining your current one?

[jimh406]

I don't think it will cost you $5K a year to maintain the current truck even if it is an Ecoboost. Do find a good mechanic, and do what they recommend before a catastrophic failure. My old mechanic said it was normal for the limo suite and town cars he maintained to make 400-600K miles on the 4.6s and 5.4 v8s.

There are great cars/trucks out there that were traded because someone was tired of them. I bought a 2016 last fall that had 32K on it with all servicing done on a schedule. This particular vehicle is supposed to make 250K with limited issues. I paid just over half price.

Let someone else take the depreciation and if you need a newer one, buy a good used one.

 

[5MilesBack]

Ya, when you add all the new costs together on a $70k truck.......taxes (that's another almost six grand here), plus registration on that $70k vehicle, plus full coverage insurance on that value.......ya, it's ridiculous. No thanks.

 

[dtrkyman]

Finding a good mechanic is the real trick, have tried a couple recently and it was not good!

Milking my current vehicle, but I need someone to diagnose some issues nobody seems to understand?

I don't mind maintaining it, just want it done properly! Been an pretty good vehicle, but at 183k it is starting to show it's age!

 

[tony]

I’m 53, this ‘21 Ford Ranger isi my second new truck. I’ve drove all trouble free f150s, had one Tacoma and it was ok. My last f150 was a 2013 I bought with 50 some on the meter. Drove it to 170ish. Last year I had it, I hit a deer at the tune of 5k and then a tree limb during a storm and caved in a back door, (crew cab). I paid around 2k out of pocket for that. So in the same year 7K for body work. Had I not had insurance the deer would have been out of pocket. I didn’t even tell them about the tree limb as it had been around 6 months since the deer hit.

Transmission had a sensor go out at around 150k, Lucky timing as Ford knew this sensor was an issue but from what I understand not bad enough for a recall. 150 was the cut off for repairs on ford or I would have had to spend at least a thousand to fix it. After that I started having a coolant leak again. I jut got tired of chasing little things.

I’m single, make decent money, have no bills and my one kid is 30, and not dependent on me for money, which I wouldn’t do anyway. I thought what the hell, I had been wanting a smaller truck and that ranger covered and does everything I need.

70 for a new truck, yep seen them, usually loaded out with nonsense. Then add in that what should be criminal “dealer mark up”. Problem is, dumb asses are lining up to pay those prices. Work with a girl that wanted a big off road keep cause it looks cool. Never seen anything worse than a gravel road. The winch is completely rusted.

Decent deals and dealers are out there, just have to look and maybe drive or fly out to them. I set myself a limit on a new truck, including what I wanted in a truck. I don’t need or want most the things that come with them. I wanted a tremor as it is perfect for my off-road adventures, which is next to none other than some hunting, fishing, hiking, etc. It would pull what ever tiny trailer I might have to haul.

 

[displacedtexan]

Nah, not a large market for it.

Look at what they produce the most of(because of demand). It's the mega (car)cabs with the shortest beds and no towing. The vast majority of people buying trucks don't need trucks, they don't even want a truck.
They want a tall, heavy vehicle with some sort of status.
If people really wanted trucks long beds(8ft) would be the #1 seller and you couldn't find one without the heavy tow package. They want a big ass el camino with all the comforts.
There's a reason the Maverick is a big hit.

Exactly.

Auto makers spent huge amounts of money on market research, data analytics, and are producing what there is a demand for.

Why do people think power windows are standard? No more manual transmissions?

A whole new setup with less demand? Not a chance they will.

 

[Savage99]

Only if there are parts available.

Had a leak on a 2007 Jeep. Faulty part is no longer available. So I had to do some “mixing and splicing” of various available parts to get it to work. If it was a field fix then it’s not that big of a deal; but that monstrosity is now a permanent “solution”.

I’m getting a piece of a rear AC line brazed in on my 97 Burb b/c my shop can’t source the part, or at least in a timely manner. I try and do most stuff myself, but certain things I don’t. And then I’m increasingly more busy.


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[Coldtrail]

I've done pretty well on used vehicles my entire life (knocking on wood), but my rule is that I buy pretty bare bones stuff so If I'm putting money in them it's to keep it running and not because some luxury option isn't working right & I also don't shop for a color....I've had some pretty terrible looking trucks, but once you throw the tires, mismatched topper, and the winch bumper on then people are more like "Ahhh, I see what he's doing there" Lol.

 

[Pikespeak]

Yeah but why would a major manufacturer increase the lifespan of their product while effectively decreasing the selling price (less bells and whistles). They want vehicles to fail immediately after the warranty expires just ideally not in a way that hurts someone and gets them sued.

Not an existing manufacturer, new one, with a new business model.

 

[30338]

For years I've bought new Toyotas, driven them to 150,000 give or take and then sold them. My average depreciation is around 10 cents per mile. My current one I paid $36,000 for in 2015 and hoping to get around $25,000 for. So it will be around 8 cents per mile.

I've never had a transmission or engine worked on for those 7 vehicles. For me I think this is the most cost effective way of doing vehicles. If buying used I'd look hard at Tundra, Tacoma or 4runner.

Buying a Ford F250 to try something new.

 

[Pikespeak]

Nah, not a large market for it.

Look at what they produce the most of(because of demand). It's the mega (car)cabs with the shortest beds and no towing. The vast majority of people buying trucks don't need trucks, they don't even want a truck.
They want a tall, heavy vehicle with some sort of status.
If people really wanted trucks long beds(8ft) would be the #1 seller and you couldn't find one without the heavy tow package. They want a big ass el camino with all the comforts.
There's a reason the Maverick is a big hit.

I don't know, maybe. I have a crewcab with the short bed and I really appreciate the crewcab for when I have the wife, kid or just a ton of gear. I have a tow package but don't tow very often but Im very glad I have it when I need it. If seems we are moving almost every other year, random llama pull, or a friend's boat.

Could I get away with a tacoma or something? Probably, but I would feel really cramped all the time. I was thinking a crewcab with the mechanical basics. If you want leather, get the aftermarket covers ( which is all OEM is anyways, btw) Want car play? Stick in the latest pioneer radio...etc. Also, when I bought, the Tacomas were almost the same price and had the same gas mileage so I didn't understand why I wouldn't get a full sized.

 

[wind gypsy]

Keep in mind there's a lot more to a vehicles reliability than just engine and transmission. You would need to replace all brake lines at some point, fuel lines, those are actually pretty cheap, but can be a lot of work. Then just little things happen that piss you off, electrical shorts.....


I know a lot of guys that run a truck into the ground, like 250k. If that's a 50k truck, that's 20 cent a mile. If I get a almost new truck, sell it for 20k less than I paid and put 100k on it, that's 20 cent a mile. That's the route I have been going. Put 120k on one bought and sold at the right time, it cost me 3k.


I let someone else get the first farts in the seat, but frequently you can find one that's 8-20k miles for enough off new price that it's worth it.

This is the answer to why I wouldn't do the keep on repairin an old truck route. If I have to choose between higher payments/depreciation in new vehicles vs driving an older, less comfortable, less capable, less reliable and paying higher repair costs - well the choice is easy if the $ is anywhere close to being comparable. Time (not spent on troubleshooting, repairs, being stranded) and peace of mind are pretty valuable.

 

[Pikespeak]

For years I've bought new Toyotas, driven them to 150,000 give or take and then sold them. My average depreciation is around 10 cents per mile. My current one I paid $36,000 for in 2015 and hoping to get around $25,000 for. So it will be around 8 cents per mile.

I've never had a transmission or engine worked on for those 7 vehicles. For me I think this is the most cost effective way of doing vehicles. If buying used I'd look hard at Tundra, Tacoma or 4runner.

Buying a Ford F250 to try something new.

Interesting, I may actually build this out in an excel later on to just compare some scenarios later today if I can get some free time.

I will never replace my 2016 2500 Ram Diesel. I will fix it as problems come up and run it into the ground. Its going to be my million mile truck and I will never buy another one. If it wasn't for towing my tractor around I wouldn't even own a 2500. I cant complain about the mileage though. It gets GREAT mileage.

New vehicles are so overpriced its not even funny anymore.

There are something like 25,000 2021 trucks sitting in various places that are awaiting chips. Those should go for cheap if people don't start bidding wars over them..lol

The one thing you're missing is the Trade-in value.
It went up in value equally.

True, but my truck looks to only be worth a little over 20k now. That 50k spread is still 10k more than I bought mine for new...plus interest payments.

 

[william schmaltz]

I got a 2005 duramax crew cab long box with 260k on it. I can sell it today for the same price I bought it 10 years and 120K miles ago. It's pure stock, everything original but I know it's only a matter of time. I probably need to start putting money into it this winter. Diesel shops here are 8 weeks out and that's if you can even get the parts you need in that time. So I can start guessing on what needs done first to be proactive, but I might throw $5k into the motor next month and a month later need to put another $5k into the tranny. The other option is waiting until things go bad and potentially not having a vehicle for 3 months. It's to the point that it's not worth the guessing game or potential unreliability anymore. I don't want to put my kids in danger driving somewhere in the winter and breaking down.

I've always been very anti-brand new vehicle. But after looking at the market I'm leaning that direction. I'm seeing $40K+ for any pickup a few years old with 40-60 thousand miles on it. And I'm just not going to buy a gas vehicle with over 100K miles on it for $30K+. I've done the "build your own thing" online and what I would want (1/2 ton, step above work pickup) would be around $50K. May as well do that and have the full warranty and clean slate. Hopefully in a few months when they're trying to move them I can get closer to mid $40K. I plan to have it at least 10 years. Me and my wife live extremely frugal and below our means. Never had a vehicle payment. Only debt is a nice house with a payment that's 1/10th our income. Do at least 25% into retirement. And paid our school off 5 years ago. A $250/month pickup loan for a couple of years isn't gonna change our bottom line any. We've worked hard, may as well get what we want.

 

[Pikespeak]

This is the answer to why I wouldn't do the keep on repairin an old truck route. If I have to choose between higher payments/depreciation in new vehicles vs driving an older, less comfortable, less capable, less reliable and paying higher repair costs - well the choice is easy if the $ is anywhere close to being comparable. Time (not spent on troubleshooting, repairs, being stranded) and peace of mind are pretty valuable.

I don't know if there's really that much of a difference in the new trucks. I don't think a new one would be any more comfortable, most of the new capabilities I don't need or want (selectable 4x4 vs automatic 4x4, etc), less reliable is potentially true, and repair cost would seem to be less than a new vehicle.

What if for reliability you were proactive and just gutted the truck? 5k this year, 5k next year and just replaced entire systems? Instead of waiting for odds and ends to fail over time? Another though, I think unless it involves the drive train, most issues that could arise aren't significant enough to leave you stranded, right?

 

[KnuckleChild]

What if for reliability you were proactive and just gutted the truck? 5k this year, 5k next year and just replaced entire systems? Instead of waiting for odds and ends to fail over time? Another though, I think unless it involves the drive train, most issues that could arise aren't significant enough to leave you stranded, right?

My problem with that is it is a huge inconvenience for work and costs me money for my wife and I to get to work when a vehicle is out of commission. ~$50 a day on average historically in Ubers or rental or whatever, plus whatever price the time is worth which varies person to person I suppose. It starts to add up.
If I didn’t commute so much and have slim free time it would be different though.

 

[Laelkhunter]

What are you greasing?

Probably the zerk fittings. Most vehicles nowadays come with "lifetime" u-joints, etc, but used to be a time when you pumped grease into the front end (upper and lower control arms, steering linkage,drive shafts, etc), and used a long needle type attachment on the grease gun to grease the fittings in the u-joints. They last forever if you keep them full of grease.

 

[spur60]

I went from an 05 yukon with just under 200K miles to a 2019 F150 lariat with 15K miles on it last spring. I paid $45K for the F150. I put 18K miles on it in 13 months. My mileage on my personal truck will drop quite a bit in the coming years though as I'll be getting a company vehicle in the next 6-8 months. I'll probably end up keeping my F150 for the next 10 years.

 

[WCB]

If you are disciplined with your money...repair route may not be wrong for you. But in todays world most people go...."Since I don't have a $500 car payment anymore I can afford a bigger house" or start buying even dumber shit than a new truck like a $30,000 side by side. Then the truck breaks down and the suddenly can't afford repairs. Or If I have to drop $5000 a year on truck repairs...hell might as well just make a payment on a vehicle and not have the headache of expecting to have to repair it. I would say an older vehicle with out all the electrical it wouldn't be a terrible idea. However, the newer vehicles I wouldn't want to play that game.

Another thing to think of....MOST people don't NEED a $70,000 truck/vehicle. If you haul or pull ok your cost is going to be high just for the baseline vehicle BUT guys complain about truck prices and have them decked out, with 1000s of dollars of upgraded rims and tires, super duper camera views, and all the other B.S.

 

[Grumman]

Something to consider on pumping money into a used one is the insurance payout if it’s totaled. They likely won’t care if you just put a new engine or transmission in it and will just payout the market price.


I just traded a 2019 F250 in on a new 2022 Silverado. Surprisingly my insurance premium dropped over $200/year on the new truck. Someone said maybe due to the aluminum bodies in the Fords being more expensive to repair???


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[Sapcut]

Another wrinkle to add here is that I was reading an article that said new vehicles are now more unreliable than ever. This was due to all of the new electrical systems, sensors, etc. There are just so many more points of failure that the number of people having a issue in the first year has risen significantly. It seems that if you were to keep a newer vehicle past the warranty period you may end up in constant issue purgatory where the only option would be to buy another new vehicle just to have something under warranty again.

I think someone could make a lot of money coming out with a basic, mechanically well equipped truck (4x4, locking diff, etc. ) at a reasonable price. No automatic 4x4, or 500 sensors, self driving etc..

Precisely why Land Cruisers are the only thing my family has been driving the last 25+ years wth up to 500k miles.

Low cost of ownership. Can’t kill ‘em and can’t live without em.