Should I consider selling or just keep driving?

   / Should I consider selling or just keep driving? #1  

jcmseven

Veteran Member
Joined
Dec 19, 2004
Messages
2,314
Location
western NC
Tractor
JD 2320; 4520
To all,

As many of you know from prior postings, I have a 2009 GMC 2500 SLT with a Duramax engine. I have always been a "Ford man" but took a step out and have been well-satisfied with my GMC. I originally bought the truck due to my hauling of a John Deere 4520 back and forth between two of our properties and due to the fact I drove a lot (25-35K miles per year). My parents who owned one of the properties noted, have recently downsized their land and I am likely also going to downsize from two tractors to one which will lower my hauling weight and duties substantially, though we are not there yet. I was approached by a friend of mine yesterday inquiring about my truck. He recently bought a travel trailer and is looking for a used pickup to drive daily and tow his trailer and has expressed solid interest in my truck. Financially, he would prefer to spend less than what I would want out of a sale of my current truck, but he indicated he would "go up" to get a diesel of the type of mine. I believe him to be both serious and reliable. My question is this: my GMC just ticked over 92,000 miles and has been stone reliable. Aside from a power door lock that sticks and needs repair it runs great and has given me no trouble at all. I enjoy driving it still and would otherwise have no reason to be looking at another vehicle. I bought the truck using an equity line that I have had for years and paid for it cash sale at the time. I do owe my line a little back to zero it out but could easily pay it at any time, otherwise the truck is "mine". I am trying to decide about selling a truck that has given me good service and is approaching 100K miles to a buyer who essentially has sought me out (understanding his interest at this point seems serious but is preliminary). It has been my prior intent to continue driving my current truck and look at the GMC new offerings in a couple of years after the redesign. I am not excited about buying a new truck, but also know that given how much I drive I likely will be at 150K miles by the time this were to happen. My towing duties are lessening, so I foresee the possibility of looking more toward a 1/2 ton at that point and likely going gas, though I like diesel. My driving volume has diminished of late but I do not foresee driving less than 20K miles a year in the predictable future. Do I tell my friend "keep looking, not interested in selling"; or giving him a price and seeing if he would be interested, with the knowledge this would mean going out earlier than intended and looking at something to replace what I currently have at a cost--trying to fit this in the context of my current mileage and knowing how reliable my current ride has been? I should state that my current truck has been extremely well-maintained and though used for pulling has also been used for long driving. It is totally stock with no chips or mods and would likely be a truck from which one could get a lot of miles. I have little to no worry about the mechanicals of the truck but do have some slight concern about the development of other small buggaboos that could arise over 100K. I do not know if that concern is unfounded or not.

John M
 
   / Should I consider selling or just keep driving? #2  
Give him a high number and see what happens. Its just a truck, not a 69 GTO.

Everything I own is for sale.

Chris
 
   / Should I consider selling or just keep driving? #3  
Keep the truck and the friend. The two don't mix well.
 
   / Should I consider selling or just keep driving? #4  
Keep the truck and the friend. The two don't mix well.

I agree, I would be hesitant to sell anything of that much value to anyone that I know. Even being in good condition, you never know- which could cause hard feelings. I once bought a Ford Contour from a guy I work with for cheap. Everything was good, needed brakes (which he told me about) so I put the brakes on, replaced a wiring harness for the fan motors (there was actually a recall for this and the dealer replaced the fans for free even though the car was like 10 yrs old at the time) and drove it. About a month into it, the trans went out. Neither of us had any idea this would happen- there were no preliminary signs. I bought it cheap enough and didn't blame him at all, but he still felt really bad. Had this been a $25,000 vehicle, things may have been different.

I say keep the truck for now, if your neighbor is actually a good friend maybe consider letting him borrow it a couple times a year when he wants to pull his camper. In a few years when you were going to buy another one anyway, then maybe consider selling to him and he will have confidence that anything that happens was not your fault and you had no prior knowledge of future problems. He will be familiar with the truck and if he knows know of your future plans, it will indicate such. It has to be a pretty good friend though that you trust to be responsible with your truck, especially if using to pull a large load.
 
   / Should I consider selling or just keep driving? #5  
Keep the truck and your friendship. It meets your needs and its reliability is a known to you. Future diesel trucks will be EPA restricted with DEF and particulate filters ...
 
   / Should I consider selling or just keep driving? #6  
Look at new SLT duramaxes, they are close to or over 50 grand. I wouldn't let that truck go for much less than 30 grand.


I actually probably wouldn't budge off 30 grand, he will buy it if serious.


Pay off your line of credit and put the rest down on a '12 closeout or new F150. Maybe try to get 0% on it if they are still offering that?


If you aren't using it no reason to have a heavy duty truck, trade up to something new for a few grand extra out of pocket. Sounds like you drive a lot, might be a good idea so you don't have a high mileage vehicle they are harder to get rid of.
 
   / Should I consider selling or just keep driving? #7  
Do you need to drive the truck ALL the time. If not I would consider keeping it and buying a reliable car. Cheaper to drive and maintain and only drive the truck when you need it. That way it would last longer.
 
   / Should I consider selling or just keep driving? #8  
Do you need to drive the truck ALL the time. If not I would consider keeping it and buying a reliable car. Cheaper to drive and maintain and only drive the truck when you need it. That way it would last longer.

I have tried this three times. Once a $20, 000 car and twice a $5, 000 cars. All three got twice the mpg of my truck but in the end the math dud not work.

The truck still deprecated and the second vehicle's need upkeep, iinsurance, plates, ect. At best it was a wash.

The only positive was having a backup vehicle.

Chris
 
   / Should I consider selling or just keep driving? #9  
Chris, I agree it is a wash or possibly even a loss financially. Really only works out well if you keep the truck a long time (10 years or so) . Keeping the miles off the truck would in theory make it last a bit longer and less miles, less to maintain. I usually keep the wifes car after it is paid off and drive it into the ground. I can usually get her old car to last the entire life of the loan on my vehicle . She gets a new car and I am usually getting a new truck every 7 to10 years. This really only works financially if at least one vehicle is paid off. It is very nice to have a backup vehicle
 
   / Should I consider selling or just keep driving? #10  
I do the second vehicle thing, I've had a couple backups over the last few years. Run them hard and sell them.


Really handy if your main rig goes down and in my case I currently have a truck I could literally give 2 cruds about if it gets scratched. Keeps the nice truck looking good. I've been driving it mainly since it is a long bed and I'm really busy right now so it makes it really handy if I need to stop and pick something up. Don't think I'll buy another shortbed again.


Anyway, but in the end it does cost more per month to have a second vehicle.
 

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