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  1. #1
    Platinum Member bdog's Avatar
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    John Deere 4440

    Default When is the best time to trade a truck?

    Here is my situation. I have a 2008 F-350 4x4 king ranch crew cab diesel. Paid cash for it used in 2009 for 35k and now it has 117k miles. I figure it is worth about 25k now.

    I love the truck and don't really care if I get a new one or not but I feel that I am at a crossroads so to speak in that right now it is still worth quite a bit but if I keep driving it the miles are going to get up there and before I know it I will have a bazillion miles and a truck worth pretty much nothing.

    I use the truck for work and realistically buying a newer one every few years is justifiable. I am trying to figure out what makes the most sense from a financial standpoint - drive this truck I have until it has 200-300k miles and is worth essentially nothing or trade it now and get something newer?
    1980 John Deere 4440 with duals
    2006 John Deere 322 compact track loader

  2. #2
    Elite Member Bob77064's Avatar
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    Sep 2011
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    3,972
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    KY @ TN line
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    2011 LS R3039

    Default Re: When is the best time to trade a truck?

    With that many miles a new car dealer will wholesale it to a used car dealer. The best time to go to a car dealer is the end of the month when they are trying to meeet their quota. Good luck, you can look on NADA for a value.

    Ford Pricing and Information - NADAguides.com

  3. #3
    Elite Member
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    Earth
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    Deere

    Default

    Last year I traded in a GMC 2500 in December for a Yukon. Dealer said that that was a really good time for my trade in because the snow was coming and people were looking for 4x4s.

  4. #4
    Platinum Member bdog's Avatar
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    Mar 2004
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    John Deere 4440

    Default Re: When is the best time to trade a truck?

    Quote Originally Posted by Bob77064 View Post
    With that many miles a new car dealer will wholesale it to a used car dealer. The best time to go to a car dealer is the end of the month when they are trying to meeet their quota. Good luck, you can look on NADA for a value.

    Ford Pricing and Information - NADAguides.com
    Thanks for the reply. That is good info on the timing of the trade and definitely useful but is not really what I was trying ask.

    I was wondering if my strategy should be to trade every two years, or should I wait longer? I have never bought a new vehicle in my life and don't really want to I like to buy two year old vehicles. Just trying to figure out what makes the most financial sense.

    In my scenario now I figure my truck has cost me 5k a year since I bought it for 35k, had it two years and it is now worth 25k. I figure if I drive it another year it will lose 5k, and so on. I bet if I drove it four more years it would probably be worth 5k.

    On one hand one would think that driving it as long as possible would save money but on there other hand trading every couple of years would keep me in newer and likely more reliable trucks and I would still be losing 5k a year or so.
    1980 John Deere 4440 with duals
    2006 John Deere 322 compact track loader

  5. #5
    Gold Member
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    Nov 2011
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    385
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    Louisville, KY burbs

    Default Re: When is the best time to trade a truck?

    This is just my $0.02, but I think modern pickup trucks are going to either have a bunch of issues fairly early in their life, or they are going to last a very long time. If your truck has 117k and 4 years in service and the gadgets are still working, you keep up with the maintenance, paint isn't falling off, then I would consider carefully whether you want to trade it in for a new(er) one.

    Some guys really like having a late-model truck. There's nothing wrong with that, but if you are just trying to make the smartest buying choice, keep in mind there is some fraction of trucks that spend a lot of time in the shop way before the warranty expires, too. They have to build some of these trucks on Fridays.

  6. #6
    Super Member two_bit_score's Avatar
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    Dec 2008
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    Texas - from the brush and pear to the piney woods
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    John Deere 110 TLB

    Default Re: When is the best time to trade a truck?

    Quote Originally Posted by bdog View Post
    Here is my situation. I have a 2008 F-350 4x4 king ranch crew cab diesel. Paid cash for it used in 2009 for 35k and now it has 117k miles. I figure it is worth about 25k now.

    I love the truck and don't really care if I get a new one or not but I feel that I am at a crossroads so to speak in that right now it is still worth quite a bit but if I keep driving it the miles are going to get up there and before I know it I will have a bazillion miles and a truck worth pretty much nothing.

    I use the truck for work and realistically buying a newer one every few years is justifiable. I am trying to figure out what makes the most sense from a financial standpoint - drive this truck I have until it has 200-300k miles and is worth essentially nothing or trade it now and get something newer?
    There used to be a good Chevy dealer in Haskell or Plainview that was good to deal with. Not know about the Ford dealers in the panhandle. Wherever you decide go to the fleet dept and bypass the buzzards up front. But you already knew that.

  7. #7
    Gold Member
    Join Date
    Mar 2008
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    434
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    NY

    Default Re: When is the best time to trade a truck?

    Quote Originally Posted by bdog View Post
    Here is my situation. I have a 2008 F-350 4x4 king ranch crew cab diesel. Paid cash for it used in 2009 for 35k and now it has 117k miles. I figure it is worth about 25k now.

    I love the truck and don't really care if I get a new one or not but I feel that I am at a crossroads so to speak in that right now it is still worth quite a bit but if I keep driving it the miles are going to get up there and before I know it I will have a bazillion miles and a truck worth pretty much nothing.

    I use the truck for work and realistically buying a newer one every few years is justifiable. I am trying to figure out what makes the most sense from a financial standpoint - drive this truck I have until it has 200-300k miles and is worth essentially nothing or trade it now and get something newer?
    Would you be looking to buy another late model used truck like you did with this one, or are you thinking brand new? Also you don't really say whether you did the last transaction late or early in the model year and how many miles were on the current truck when you bought it and how many miles you put on each year. All of this will have a bearing on your decision.

    I feel if you're able to pick up a slightly used truck still under warranty like it seems you may have done with this last one, then I would look at upgrading to another slightly used unit. It all depends what the availability of late model used is in your area, how much it will REALLY cost you and how much time and interest you have in shopping for a used truck.

  8. #8
    Platinum Member
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    Apr 2011
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    New Holland Boomer 50

    Default

    The depreciation isn't evenly spread over the years. You figure it's cost you ten grand for the two years you've owned it. It cost the first guy ten grand or more for one year. If you buy a new truck, you're going to be that guy.

    Your truck, assuming it doesn't explode, ought to be worth four or five grand even when it's ten years old. That means the depreciation hit is less and less the older it gets.

    You only need decide if the increased maintenance costs for an older truck adds up to more or less than the depreciation saved by keeping it. On my 2003 Super Duty crew cab 4x4 diesel that is the case. I've spent a couple grand in the last two years on repairs, but my depreciation loss is getting pretty low.

  9. #9
    Super Star Member Diamondpilot's Avatar
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    Daleville, IN
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    Jinma 254/284 Ford 861 Powermaster at work

    Default

    Using it for work I would want the piece of mind of newer.

    Chris

  10. #10
    Elite Member dodge man's Avatar
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    West central Illinois
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    Kubota BX2350

    Default Re: When is the best time to trade a truck?

    If its vital for your work, I would say trade in the next year. Money wise, its best to drive a vehicle into the ground, but at some point it gets less and less reliable.
    Dave,
    BX2350

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