What makes more sense...driving a long paid for old truck, or making huge payments??

[JimRB]

I did not see anyone refer to reports about cars with 300,000 miles or cars with 400,000 miles. My VW has 482,000 miles on it. I have spent $1,500 on unexpected parts like the fuel pump (actiing weird, a new pump was only $200 more than a rebuilt one) and the alternator (made a noise for a month that I did not locate, then it started on fire). Regular maintenance like bushings, brakes, and timing belts. I did find two CV joints with pits that I replaced doing scheduled PM. Probably due for a new set of injector nozzles.

We live 40+ miles from work. Real estate (acerage and taxes) are much higher close to work. My 9 acres house and a barn would be 1 to 2 million more closer to work, if I could find 9 acres. It might have been $300-400k more 20 years ago but that was a ton of money we did not have then or now. My annual taxes is what some folks pay monthly in property taxes in the city.

I have had 3 other VWs go over 300,000 miles. They say that VWs are unreliable and expensive to keep up. I have not found that to be true but the only other vehicles I have kept were a few Toyota trucks and the Ram 2500. One Toyota was put to manure hauler duty, then rusted out 6 years later. The other Toyota had about 280,000 miles but a high school kid rear ended it. Cummins only has 165,000 miles on it. So far in 30,000 miles and 5.5 years I have had to replace front engine bearings (water pump, idler pulley, belt tensioner pulley.) Alternator bearings are sitting on the shelf. I need to PM those before I smoke that alternator like I did on the VW. I hear no noises though so it might be good.

The joys of living in the south. I just wash the mildew off the truck once a month. The VW sits in the garage so it weathers better.

 

[NoTrespassing]

Ok, sometimes it makes sense to buy new imo. I bought our 2001 F150 used, 4 years old, 15000 miles, 9500$. Bought our 05 AWD Hyundai Santa Fe used, 6 years old, 100K miles, 7500$.

When I needed a small car for gas mileage to and from work I ended up buying new for the first time in my life. The used small cars were very high priced in 2008 and it just didn't make sense to buy used. New price was only 12,500$ plus tx and title. I'll drive it till it dies, it's 8 years old and 176,000 miles.

When I sell a vehicle it goes directly to the scrap yard or demo derby.

My question would be why don't more people buy used tractors like they do road vehicles? My impression from TBN is that 9 out of 10 TBN users buy new when it comes to tractors.

Kevin

 

[ovrszd]

Might I interpret your opinion as saying if I keep my GMC, I can actually anticipate living to age 121? What a deal...thanks for figuring it out for me ! :laughing:

That's exactly what I'm saying!!!! You are just halfway thru life and your truck is less than halfway thru it's life!!! Excellent combination!!!!

 

[ovrszd]

My question would be why don't more people buy used tractors like they do road vehicles? My impression from TBN is that 9 out of 10 TBN users buy new when it comes to tractors.

Kevin

I think it's directly related to the need for financing. You know,,,,, that 0% thing.......

 

[DK35vince]

My question would be why don't more people buy used tractors like they do road vehicles? My impression from TBN is that 9 out of 10 TBN users buy new when it comes to tractors.

Kevin

I know why I do it that way.
Tractors seem to hold their value better than cars.
Nice low hour used tractors were to close to new prices, so I went new.
I save a good bit of $ buying a nice used cars/trucks

 

[lostcause]

We've all got our reasons why we do what we do - some reasons may be better than others, and some may only make sense to us alone, but that's the beauty of living in a world where we are free to make those choices.

I recently traded in my 10 year old, 110k mile, truck that I had owned since new and was in near perfect mechanical condition. Why? Because last year I changed jobs and my new commute is upwards of 100 miles a day. Last winter my fuel bill was close to $600 a month. Add that to the fact that I had almost $3800 credit on my GM card and they gave me $16,500 in trade on the truck (cost 10 years ago was about $33k after rebate & incentives), plus the 5% rebate (cost of new truck was about $38.5k after the same).

I was at the point where I had started to spend a lot of free time on repairs - mostly corrosion related - transmission lines, power steering cooler, brake lines, second brake job (rusted rotors & delaminated pads) second time around on rocker panel touch-ups, and so on. One front shock tube had actually just rusted thin and blown out over a bump, and after 10 years of northeast driving, the frame looked fine, but I'm sure there would have been some suspect areas popping up in the next few years. Guarantee that fuel lines were probably at the breaking point too.

This truck gets a little better than double the mpg of the old one, so my net monthly cost is less than $750 a month for payment and fuel. In my reasoning that's only $150 a month to trade into a new truck from a 10 year old one. The new truck isn't quite as big and capable as the prior one, but it should serve all my needs for (hopefully) the next decade. It just seemed like the right time to make the jump.

 

[Retiredguy2]

OP here: Reason I originally created this thread was because when I purchased my truck new back in Y2K, I DID expect to keep it a long time just for a trailer tower/people hauler. I recall when it was new the monthly payments were something like $400-450 and I thought that was obscene. Today a comparable vehicle would cost almost twice that much a month and when I drive my GMC maybe 1000 miles a year it makes no sense at all to pay for a new one that sits in the garage 98% of the time. Sorry if I offended other members here, but do you really NEED a new truck when you could simply pay for repairs on an older one? As I mentioned in another post my brother recently had to take his two year old F-150 in for a repair at 70,000 miles. It was an extended warranty repair, BUT: Why was it even needed? I truthfully do wonder how reliable today's vehicles are going to be.....too much bling and flash.

 

[fried1765]

Ok, sometimes it makes sense to buy new imo. I bought our 2001 F150 used, 4 years old, 15000 miles, 9500$. Bought our 05 AWD Hyundai Santa Fe used, 6 years old, 100K miles, 7500$.

When I needed a small car for gas mileage to and from work I ended up buying new for the first time in my life. The used small cars were very high priced in 2008 and it just didn't make sense to buy used. New price was only 12,500$ plus tx and title. I'll drive it till it dies, it's 8 years old and 176,000 miles.

When I sell a vehicle it goes directly to the scrap yard or demo derby.

My question would be why don't more people buy used tractors like they do road vehicles? My impression from TBN is that 9 out of 10 TBN users buy new when it comes to tractors.

Kevin

BINGO!
You done broke the code!..... WHY DON'T THEY ????
So I AM an old guy, and I DO have three old tractors.
I have a 46 year old Ford TLB (2016 completely refurbished- has 1850 hrs.) bought used 30 years ago
A 29 year old 4x4 FEL tractor (2015 completely refurbished - 1056 hrs) bought used 3 years ago.
A 1951 8N (I keep it just for the he** of it) that I have owned since 1970, it will be repainted again this year.
If I had bought just the two REAL tractors new I would have been in debt for years.
As it is, I have two very usable tractors, in restored/excellent condition, and one of them I have had the use of for 30 years.
I have two separate loaders, and never need to take the backhoe off (though it is quick disconnect - 20+ minutes.
I am old, and I guess, just very different!
6 cars+!
1981 VW diesel pickup, 1987 Jeep YJ, 1996 Mercedes E-320, 1997 Suburban K2500 4x4, 2000 Cadillac STS, 2010 Corolla LE......and a 1902 doctor buggy (anybody want to buy a doctor buggy?)
All are in excellent condition, and....NONE were bought new!........ all but one (E-320 in Fl.), spend the winter asleep!

As an aside: In May of 2015 I sold my 1986 GMC Jimmy 6.2L diesel,-170,000 miles, on E-Bay for $8200 (Bought used in 1990 for $8000). I owned it for 25 years, and it sold for more than I paid.
When there are 2+ bidders on E-Bay fighting for a win, it is a beautiful thing to watch.
Buyer was from out of the USA, and had to pay a bunch for shipping also.

 

[crazyal]

OP here: Reason I originally created this thread was because when I purchased my truck new back in Y2K, I DID expect to keep it a long time just for a trailer tower/people hauler. I recall when it was new the monthly payments were something like $400-450 and I thought that was obscene. Today a comparable vehicle would cost almost twice that much a month and when I drive my GMC maybe 1000 miles a year it makes no sense at all to pay for a new one that sits in the garage 98% of the time. Sorry if I offended other members here, but do you really NEED a new truck when you could simply pay for repairs on an older one? As I mentioned in another post my brother recently had to take his two year old F-150 in for a repair at 70,000 miles. It was an extended warranty repair, BUT: Why was it even needed? I truthfully do wonder how reliable today's vehicles are going to be.....too much bling and flash.

Anything is fixable, it's just a matter of cost. It really comes down to risk. Are you in a situation in your life where you can accept the risk of breaking down when you go to use your truck? I assume you are retired so time is much more flexible than someone who works. For someone who works 5 days a week and has a family they may only have one day a month to haul their tractor to their friends house 200 miles away to help them out. On that one day they need their truck to work trouble free.

As for newer vehicles being less reliable, I think you need to look at history. I'm sure you can remember a time when cars had points that were always needing adjusting, plugs that need replacing, a distributor cap and wires that would age, and taking a long distance trip was an adventure. Then as electronics improved we got electronic ignition, no more points to adjust. Now we have coil packs connected directly to platinum plugs (now iridium for even better performance). No cap or plug wires to replace and timing a distributor is history.

I can't tell you how many cars I've had in the past where the radio no longer worked correctly. The digital displays and switches would die. In the last 15 years I haven't had any of these issues. I'm betting that a car built today has parts that were redesigned after they learned why parts didn't last on previous generations. Things like sensors, in some cases weren't even possible a few years ago, last longer today and cost less. Sure cars will always break down. Sure they will need recalls (of course a lot of that is that the bar has been raised) but cars built today are more reliable, more efficient, and much safer than cars built even 5 years ago. Which would you like to be in? Your 2000 truck or a 2016 same brand and model truck in an accident? Your truck has an air bag in the steering wheel while the new truck will have a better designed frame, more support in the body and doors, and multiple airbags. For you it might not be an issue due to your driving experience and limited risk but for someone else who drives on roads where the accident rate is much higher a few hundred extra a month could be cheap insurance to help prevent serious injury or even death.

I see your point, that's why I still have my paid off Tundra sitting in my yard. I rarely drive it so it's not worth having a monthly payment. In a few years when we are retired I doubt I would want a $500 a month payment (unless I have a part time job I like doing that would cover the cost) on any of our cars. But I can easily see the other side too.

 

[tcreeley]

In central Maine it will be the rust that kills my 2003 pickup - bought new - WT 2500HD. Mechanically it is in great shape- never missed a scheduled maintenance. I've replaced brake lines, calipers, rotors, pads due to rust and now the body has starting to rust on the backside. It has 136,000 miles on it. I'd keep it for another 10 years but I think that the rust will make that impossible. Maintenance has a way of adding up. I'm on my 3rd set of tires. With brake work the last bill at the dealership ran to 1500. Still cheaper than new, but keeping an older vehicle running is not all savings. - I've hit 4 deer and the last one really twisted the front bumper so that I took it in to get it fixed. I reported it as two accidents- paid my 200 deductible and it hasn't looked this good in years! A good truck.