New Diesel Truck-- Buy Now, or Wait?

[D&D]

That retirement age is a thing of the past. The 401k system is failing to even come close to replacing pensions. As the median balance at age 65 is not even enough to cover healthcare costs, let alone living costs…

I hate to burst the SocSec won’t fail bubble, but by 2034 just the interest on the national debt is more than the sum of all federal income tax. So to balance that budget that means no other spending on anything. No military, no gov’t workers nothing. All our taxes just to pay interest on debt…

Back on topic, save your current truck, mine has 350k miles on it. I love it more than the day I bought it. I bought another vehicle and now only use the truck for towing or loads.

My guess would be the 401K system is failing because the employees fail to put their full share into them. If you consistently put only 150/month @ 4%, after 30 years you’d have a little over 100K. Too many people rely on something/someone else to get by. What’s really more important, going out 3 times less in a month or building a little personal wealth?

 

[refamat]

Prices are always a headache, but if you're regularly hauling loads over Donner Summit, a diesel 3/4-ton seems like the way to go. It's a tough decision, but starting fresh might mean another decade-plus of worry-free driving.

 

[stumblinhorse]

In 2034 Social Security will be paying out only 77% of what a person should be getting. They WILL NOT be totally out of money. That's if Congress keeps sitting on their butts and not fixing it.

At least that's what the financial advisors are saying. And I hope they are correct, 'cause I intend to live for another 30 years, not just 10!

I’ll quickly explain what they are saying.

In 2033 the trust/fund runs out of money. Then only current payroll deductions will be paying out to retirees. That is “estimated“ at this time, to only cover 77% of the current benefits.

I don’t have to tell you what will happen when people are told, maybe they will understand what that means. Their “tax“ is simply coming in one door of the government and out the other to pay retirees… Not sure they cooperate after that.

 

[DarkBlack]

I’ll quickly explain what they are saying.

In 2033 the trust/fund runs out of money. Then only current payroll deductions will be paying out to retirees. That is “estimated“ at this time, to only cover 77% of the current benefits.

I don’t have to tell you what will happen when people are told, maybe they will understand what that means. Their “tax“ is simply coming in one door of the government and out the other to pay retirees… Not sure they cooperate after that.

We have some politicians who want to raise the minimum retirement age even higher. A lot of people die before the even make it to retirement.
Funny how we don’t have enough $ for our own retirees, but we always have endless $ to send to foreign countries on the other side of the world to blow each other up.

 

[Hay Dude]

We have some politicians who want to raise the minimum retirement age even higher. A lot of people die before the even make it to retirement.
Funny how we don’t have enough $ for our own retirees, but we always have endless $ to send to foreign countries on the other side of the world to blow each other up.

Yeah….,you wonder what 90 billion could do for our own citizens…
Think infrastructure, border security, national security, etc.

Eh, screw it. Give it to the Ukraine war…

Me? I’d go with a new truck in the early summer. I think there might even be a few ‘23 leftovers that could be had “cheap”.

 

[BlueKnife]

Maybe avoid the high cost of a new truck? But still, at 250k miles, much could strand me on the side of the road over Donner Summit. My GMC 2500HD has the original everything-- water pump, oil pump, power steering pump, alternator, etc. Been a good vehicle.

You could replace every moving part in your pickup with new and not come close to the cost of a new one. I'd keep driving the one you have.

 

[Snobdds]

That certainly would make a difference.

I just looked at my records, I paid in $133,000 and it took 68 months to get it back....I retired at age 51.

There is a reason pensions went away.

However I'm curious how a pension that stopped funding at 51 can keep up with inflation in '24? I'm an actuary, so I like to hear real life feedback on the old system to see if it keeps up with the times, or does a market based approach win out. Certainly the numbers from the stock market (401K) over the past 20 years far outpace bond returns (pensions).

 

[ponytug]

I too have heard a lot of good things about the 7.3 gas engine from Ford. All the early problems have been corrected and it is very dependable.

However......if you are still going to be towing 10,000 lbs over Donner consistently you are going to want a diesel with an exhaust brake. At Donner's elevation that gas 7.3 won't be nearly as powerful, and going back down the slope you'll be riding the brakes because, good as that 7.3 is, it can't hold back all that weight as well as a diesel with an exhaust brake.

Can you suggest particular diesel engines for pickups that have Jake brakes? I looked a decade ago did not find any that were factory. Non-factory gets into multiple cans of worms for many folks.

I am a very pleased with performance of my the tow/haul mode on my gasoline powered automatic transmission. Plus it is much quieter than an engine brake.

All the best,

Peter

 

[Hay Dude]

Can you suggest particular diesel engines for pickups that have Jake brakes? I looked a decade ago did not find any that were factory. Non-factory gets into multiple cans of worms for many folks.

I am a very pleased with performance of my the tow/haul mode on my gasoline powered automatic transmission. Plus it is much quieter than an engine brake.

All the best,

Peter

I think you can add Jakes to the Cummins diesels.

Honestly, todays exhaust brakes combined with transmission downshift management are incredible. My 2020 Cummins will slow 45,000lbs down without using the brakes except for the final 10MPH to a stop. And they are very quiet.

It’s routine for brakes to last 100,000 miles and more now on the newer trucks.

 

[34Willys]

An exhaust brake and a Jacobs/engine brake are very different, and I doubt you could just 'bolt on a jake brake.
Patrick