Y'all's opinion on some truck choices

[two_bit_score]

A $710 a month nut is a big one...However, the trucks you listed ain't cheap either. Not only will the interest rate skyrocket (if you're financing) you'll have maintenance issues to deal with due to the mileage listed which could somewhat net-out the difference year over year (sometimes). If it were me, I'd just hurry up and pay it down and keep it since you stated that the payment isn't an issue. Peace of mind as far as reliability is worth something. If the note was killing you, my opinion would certainly change.

I just bought a 2013 GMC Sierra Denali figuring I won't have to feed it much except some digestible payments (put over 50% down) and I have the confidence of driving something new for a while. Didn't have to feed the 2011 GMC anything except 1 set of tires and oil changes in 3 years of ownership and 50k of miles.

BTW, I hate car payments too.

What I bought:

View attachment 335478

I agree with Tim on the financing angle. Don't know what your loan rate is or how you financed it but if it was me I might look at refinancing that note secured with a CD to get the rate down and changing the payoff terms so they may be more favorable to you. Many car notes are structured so that even if you pay it off early or double up on the note it doesn't really save you any interest. Depending on your particular financing arrangements you might be able to refi and come out on your objective.

 

[rustyshakelford]

That truck note is insane ! No way I'd give 50-60k for any vehicle. Ditch the truck and if you have to take a loss so be it. Buy anything for less $. I bought my 2007 Ram 2500 Diesel 3 yrs ago with 80K for 22 K cash

I have 14-18k in equity currently. Used diesel truck prices are rediculous right now.

I agree with Tim on the financing angle. Don't know what your loan rate is or how you financed it but if it was me I might look at refinancing that note secured with a CD to get the rate down and changing the payoff terms so they may be more favorable to you. Many car notes are structured so that even if you pay it off early or double up on the note it doesn't really save you any interest. Depending on your particular financing arrangements you might be able to refi and come out on your objective.

Loan is .9 or 1.9. Don't remember. I could refi but I'd rather not rack up miles on a truck I can trade and come out good on. I'm wanting opinions on the different options for a used truck. Ie, how Leary of a high mileage 6.7 ford should I be?

I've found a 2011 f350 srw xlt 4x4 with 135k miles. Very Clean for about 25k. I think I might go take a look at it soon. Already has a GN and would pull my trailer easily.

Thanks for the replay so far

Brett

 

[two_bit_score]

I have 14-18k in equity currently. Used diesel truck prices are rediculous right now.



Loan is .9 or 1.9. Don't remember. I could refi but I'd rather not rack up miles on a truck I can trade and come out good on. I'm wanting opinions on the different options for a used truck. Ie, how Leary of a high mileage 6.7 ford should I be?

I've found a 2011 f350 srw xlt 4x4 with 135k miles. Very Clean for about 25k. I think I might go take a look at it soon. Already has a GN and would pull my trailer easily.

Thanks for the replay so far

Brett

OK, you want to cash out of your truck and take the equity and buy for cash a cheaper used truck. Good idea. Lots of used trucks out there. I'll throw out an angle here. Have you ever thought about getting a wholesale dealers license and buying and selling trucks as you need/ want? Buy it at auction drive it til it gets mileage and run it back through. Remember you make your money when you buy and not when you sell.

 

[F3506]

If miles are increasing, then it's worth mentioning fuel economy in the conversation. 2007 is when some of the newer emissions laws went into effect (2008 MY for Ford) and fuel economy went to the toilet. The even newer trucks get decent mileage, but you've got to worry about, and pay for DEF in addition to the fuel.

In my experience, the Chevy's seem to start falling apart around 185,000 miles or so. Some sooner than that. If you want Dodge, 5.9 is the way to go, but you'll have to pay extra to get it. The Ford 6.0 got a bad rap because in comparison to the 7.3, it had mucho problems. If it costs 2k to bullet proof it, then just figure than into the cost up front and know it will be bullet proof (to an extent). Just don't let a Ford dealer try to bullet proof it. Maybe a former Ford mechanic, or current one who works on the side, but not the dealership.

 

[powerstroke444e]

I bought a 12 f350 srw 6.7 xl 4x4 and sticker was 50k but bought it it for 38k plus tax so you don't have to spend $50,000 plus. I would not buy a diesel unless it was the 6.7 or 7.3 in the ford or dodge I would take about any of them but the ones with 6.7 Cummins is hard on fuel until you get to the new ones that run def.
I still have a 97 f450 that is used regularly.

 

[bradm64]

A $710 a month nut is a big one...However, the trucks you listed ain't cheap either. Not only will the interest rate skyrocket (if you're financing) you'll have maintenance issues to deal with due to the mileage listed which could somewhat net-out the difference year over year (sometimes). If it were me, I'd just hurry up and pay it down and keep it since you stated that the payment isn't an issue. Peace of mind as far as reliability is worth something. If the note was killing you, my opinion would certainly change.

I just bought a 2013 GMC Sierra Denali figuring I won't have to feed it much except some digestible payments (put over 50% down) and I have the confidence of driving something new for a while. Didn't have to feed the 2011 GMC anything except 1 set of tires and oil changes in 3 years of ownership and 50k of miles.

BTW, I hate car payments too.

What I bought:

View attachment 335478

Hey Timswi,

great looking Denali.

Hate to hi-jack the thread, but wonder how the Denali does towing? Which motor does it have? My 2003 Silverado with Duramax is getting near the 200K mark, which is where I always said I'd get something else. Not sure I need another diesel, main thing I tow is about 10K (combined tractor & trailer occasionally), and the pontoon boat, only weighs about 4500 or so with trailer, but pulls a lot heavier.

 

[schmism]

what would i do?

7.3 F450 basic cab chassis that someone has put a flatbed on. should be 5-8K depending on condition/miles.

take the other 10K and buy a nice daily driver car/cute ute

 

[timswi]

Hey Timswi,

great looking Denali.

Hate to hi-jack the thread, but wonder how the Denali does towing? Which motor does it have? My 2003 Silverado with Duramax is getting near the 200K mark, which is where I always said I'd get something else. Not sure I need another diesel, main thing I tow is about 10K (combined tractor & trailer occasionally), and the pontoon boat, only weighs about 4500 or so with trailer, but pulls a lot heavier.

Thanks..It's a 6.2. In the picture I was picking up our new TT which goes around 7800# net...I probably had 8400# once loaded. Pulled into the PA mountains to our site...I'll just say I was pleasantly surprised at it's towing ability as there are some really steep hills going up...The grade braking is outstanding as well..Never had my foot in the floor and I easily pulled some step grades at 45-50mph without hammering the truck.

I was this close to buying a D-max at the wife's encouragement...Glad I didn't as I don't think I need it.

 

[rustyshakelford]

Thanks for all the advice. Looks like I'm going to be getting a 2012 f350 diesel 4x4. I can get the extended warranty and it'll be a single wheel so that'll be nice again. Should pull trailers fine and do decent on mileage once I delete some things.

Brett

 

[schmism]

Thanks for all the advice. Looks like I'm going to be getting a 2012 f350 diesel 4x4. Brett

confused? that sounds like your tradeing one $700 payment for another?

(or you just essentially refinanced the same amount to a longer period of time which techincally is a lower monthly payment but you shure arnt saveing anything long run)