New Truck or fix up old one

[Merc]

Won’t deny it, I do want a new truck but I’m thinking buying one is a stupid decision....but I want a newer/nicer truck.



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My recommendation since your current one is running driving and serving you just fine. Is to keep it for now. Since it's paid off, figure out what your payment would be on the new one (I think you said $800 a month) and put that aside until the fall when the 2018's go on sale to make room for the 2019's and they are offering the most incentives (0% $0 down and all that).

Either trade in your truck or sell it outright and that $800 a month you've been saving will be a solid down payment and you'll already be trained and used to paying that $800 a month (even if your actual payment is less you can knock down the principle faster paying more).

[Black Ice]

I am a big fan of the 6.9/7.3 diesel. I'd rather drive one of those with 500,000 miles on them than a new one. Just my personal opinion. If it was me in your shoes I'd keep driving it until it cratered and then drop in a new power plant.



Worst thing I ever did was trade in a 1997 F350, 7.3, four door, 4x4 up on 38's with 70k on the ticker for a newer 4runner because my first wife hated having to haul her big fat lazy butt up into the cab. That was back in 2007, guy I bought it from was the original owner and used it a few times a month to haul his boat. **** salesman must haven't let the dust settle on that truck before it got sold.



God bless and happy hunting.

Richard

1997 on 38’s? I’d rather pay for an uber.


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[LivinADream]

Why don't you put up the $800 a month a new one would cost, keep driving yours, and if yours craps out in a year or 2 you'll have 10-20k set aside for a new one already.

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[JustinJ]

It rarely makes financial sense to buy a brand new truck. Unless your using it for business you cant justify the cost by metrics alone. So it comes down to 2 things. Do you want a new truck? Can you afford a new truck?

[geezer56]

My 2000 7.3 has 385K on it. I figure it will last me til I croak since I only drive it when it is dragging or hauling something. I know it's slower than a new one, and she has a few quirks. I didn't buy it for racing, I bought it to use as a darn truck. Otherwise the Explorer works just fine for riding around.

[EarleyBird]

If you're sitting there with with $20K, buy a used truck that you can pay cash for and keep both of them.

Or sell your current truck, add that $ to your $20K, and get an even better used truck.

That's what I'd do in that situation anyway.

[Snowflake Killa]

It rarely makes financial sense to buy a brand new truck. Unless your using it for business you cant justify the cost by metrics alone. So it comes down to 2 things. Do you want a new truck? Can you afford a new truck?

This

[rockyraider]

I would keep driving your current truck as others have suggested with an idea that you'll have to buy a new/newer one at some point in the next few years. One good thing about that 7.3 is it probably won't lose any value from now until you decide to sell it. Those trucks, along with the older Cummins trucks, are actually appreciating in value in some cases. They are getting harder and harder to find.

One thing I'm not quiet sure of is your estimate of $15k to fix your old truck up. I would think you could do it for half of that, and that would be with a good paint job. That engine shouldn't need all that much at this point unless there is something else going on. Find a reasonably priced diesel mechanic to work on it and have them go through it and replace seals and whatever it needs. I doubt it needs much. I would not put $15k into it for certain unless you were absolutely certain that you are willing to drive it another 5 plus years. If that isn't the case, I'd drive it a couple more years as it stands and just save toward a new/newer truck.

PS - I'm not the new truck buying type, just FYI, so my opinion is biased.

[tps7742]

I would continue to drive your present truck with the needed repairs to keep it reliable and trouble free. Now if this is your primary vehicle for Family trips I would look into getting something new in the near future.

[Firecuss]

Mine is a 99 with a 7.3 and just like your it has 270,000 miles on it. Runs like a top and not a dent in it anywhere with nice camo interior. Thanks ZZTEX! As long as I hear my buddies say "I love your truck, sell it to me". I'm driving it. That $800 to $1,000 a month, I'm hunting with it!

[brushtrooper]

Why does the drivetrain need to be gone through and rebuilt? Are you having trouble with anything or is it just having 291,000 on the odometer and thinking it needs to be gone through? I used to run hotshot trucks and 291k is really is not all that much if maintenance has been kept up. I pulled 40' GN pretty much all the time and hitting 500-600k before having issues was not unrealistic. I had one old 6.9 ID that went 800k before it blew...loved that old smoking beast. At the mileage your at, if the truck is clean and still runs good. I would have EVERYTHING rubber replaced. There are some little rubber hoses on the motor that get hard over time. There is one off the water pump if a recall right that is a bear to get to. Replace the O-rings in the fuel filter housing as they get hard and will fail. Check all rubber bushings in the suspension. some most likely will be or starting to deterate at the mileage you are at, check all the fronted stuff. Its not expensive to replace or have replaced. Check the rear leaf spring bushings and add the carrier bearing to the list. You could upgrade to polyurethane bushings too. Fuel injectors should be on the list if you have not replaced them yet. Usually 200-250k was injector time or that's what I ways figured on both the 7.3 and 5.9 trucks I had. Have the rear diff fluid changed and tranny if not already on your maintenance schedule.
I bought a new f250 gasser in 13' and have been slowly replacing/ updating my old 04' Dodge 3500 5.9 crew cab. It was the last hotshot truck I had and I kept it when I took a time card job. Its got over 400k and the drivetrain is strong, I have replaced all described above and now working on custom interior and other cool toys. There are endless toys out there to upgrade a truck with...amazing. I plan on it being my daily driver after I finish running the f250 in the ground and its ready for a towbar to mexico.
Good luck on your decision, Both choices are a dead end expense and the validation for either is a choice only you can make

[Mike D]

If you're sitting there with with $20K, buy a used truck that you can pay cash for and keep both of them.



Or sell your current truck, add that $ to your $20K, and get an even better used truck.



That's what I'd do in that situation anyway.

This is exactly what I’d do. With $20k in cash plus sale or trade of your truck you could probably get into a 2013-2014 model for $10k-12k out of your pocket.

New truck prices are stupid. I just ain’t paying that much for something that constantly loses value.


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[Man]

Guess us Tacoma guys live in a totally different world. This is all greek to me.

[popup_menace]

Find something with less miles for $15-20k that has less issues. Then you roll away with a good truck that is also paid for. 20k will buy a dang nice truck

[Bmarsh9]

Here's a good article on a rebuild with mostly everything new and it's sub 5k for the rebuild. Add a decent set of injectors and a regulated fuel return set up and your looking at 7k tops for a brand new engine basically.

http://www.trucktrend.com/how-to/engine/1005dp-complete-73-power-stroke-long-block-rebuild/