When the cost to repair it exceeds one years worth of saving for the next one and/or affects the trade-in value...
How much money to repair truck
How much money do you put into repairing a truck before you just call it quits and get a new one?
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In my case I have a low $200 monthly payment and owe roughly $7500 on this specific truck. It's a 2500HD so it has the power to do what I need it to do. On the other hand, in the 4 years I've had it I've put over $6500 in repairs to it.KAP said:When the cost to repair it exceeds one years worth of saving for the next one and/or affects the trade-in value...
What's the loss in down time from the repairs? You also have to factor that in as well.BamBamm5144 said:In my case I have a low $200 monthly payment and owe roughly $7500 on this specific truck. It's a 2500HD so it has the power to do what I need it to do. On the other hand, in the 4 years I've had it I've put over $6500 in repairs to it.
You have a better feel for it than I do, but I figure any time I buy a different used vehicle I'm going to have to put some money into it. It life. Thats just how it goes. Generally before someone is going to sell something they don't fix everything, or else they sell it when they have a feeling something is about to go bad.In my case I have a low $200 monthly payment and owe roughly $7500 on this specific truck. It's a 2500HD so it has the power to do what I need it to do. On the other hand, in the 4 years I've had it I've put over $6500 in repairs to it.
If its a gasser and you've put that much money into it you should be sitting on a truck that will only need regular maintinence for a few years. IMO you go and sell this truck and your giving someone a deal because you've fixed everything and its ready to roll. Sell it and buy another and there is a good chance you'll be starting the whole process over on a different vehicle.
What is the year, mileage, diesel or gas, rusty????
I had a 1990 3/4 ton ford on propane, and I really liked it.
New clutch, new brakes, new seals, oilpump, timing chain, battery, alternator, starter, valvejob, new power window motor
Probably some other parts too.
Put two rods out through the oilpan.
Just filled it with 250 ltr propane.
My wife said don't even think about it.With a couple of expletives thrown in.
Sold it for $500.:laughing:
Loved that truck, but I am really glad it's gone.
The "stupid" tatoo on my forhead is almost faded away.
New clutch, new brakes, new seals, oilpump, timing chain, battery, alternator, starter, valvejob, new power window motor
Probably some other parts too.
Put two rods out through the oilpan.
Just filled it with 250 ltr propane.
My wife said don't even think about it.With a couple of expletives thrown in.
Sold it for $500.:laughing:
Loved that truck, but I am really glad it's gone.
The "stupid" tatoo on my forhead is almost faded away.
The payment trap... ouch...In my case I have a low $200 monthly payment and owe roughly $7500 on this specific truck. It's a 2500HD so it has the power to do what I need it to do. On the other hand, in the 4 years I've had it I've put over $6500 in repairs to it.
You are putting $1625 a year in repairs on your truck? What are you doing to it? If you are putting that much into it every year, if you mileage is less than 150K, get a warranty...
Even so, that works out to around $135/month... that plus your existing $200/month puts you at $335/month which would support a $14500 total financed for a 4-year loan (which would be about $13,500 before taxes, tags, etc.) that you could spend to break even... this assumes you can find one at that price with a warranty otherwise you are back to your same predicament.
Hard to understand whether it's worth it without knowing the amount you are looking to spend...
Personally, I would take the money I WOULD have spent on another vehicle, and pay down the principle quicker on the existing... you were going to spend it either way... then after it's paid off, go one more year of saving the money you would have spent on payments and buy a vehicle for trade plus cash.... CONTINUE paying the money you would have spent on payments into a separate account (treat it like a bill) and a 1-2 years later, go up the next level with your free and clear trade plus the cash... within 3-4 years, you will end up with a late model vehicle FREE AND CLEAR... instead of still owing the bank money...
Keep putting the money away, and trade it in along with cash everytime your warranty is 6 months from ending... removes it as an issue, and puts YOU in the drivers seat and minimizes your future repair costs...
Two different paths using the same money...
A paid off vehicle with a warranty is a good thing... Best of luck... 8^)
Whatever it takes! "Parked" my last truck due to a frame issue, was a beat up old farm truck that was rusty from the beginning. Trying to get my new one, 05 dodge diesel to over 500,000km... I baby my trucks and do pretty much all my own repairs/maintenance, everything's synthetic and I have a pretty good handle on what parts are doing great and what should be watched. I could almost call it a hobby, maybe I should have been a mechanic...
It has cost me $5400 in 3 1/2 years but you're right. Financially it doesn't make sense as the truck is in great shape and has 103k on it. Also I guess once nearly everything has been replaced it's practically a 2014.KAP said:The payment trap... ouch... You are putting $1625 a year in repairs on your truck? What are you doing to it? If you are putting that much into it every year, if you mileage is less than 150K, get a warranty... Even so, that works out to around $135/month... that plus your existing $200/month puts you at $335/month which would support a $14500 total financed for a 4-year loan (which would be about $13,500 before taxes, tags, etc.) that you could spend to break even... this assumes you can find one at that price with a warranty otherwise you are back to your same predicament. Hard to understand whether it's worth it without knowing the amount you are looking to spend... Personally, I would take the money I WOULD have spent on another vehicle, and pay down the principle quicker on the existing... you were going to spend it either way... then after it's paid off, go one more year of saving the money you would have spent on payments and buy a vehicle for trade plus cash.... CONTINUE paying the money you would have spent on payments into a separate account (treat it like a bill) and a 1-2 years later, go up the next level with your free and clear trade plus the cash... within 3-4 years, you will end up with a late model vehicle FREE AND CLEAR... instead of still owing the bank money... Keep putting the money away, and trade it in along with cash everytime your warranty is 6 months from ending... removes it as an issue, and puts YOU in the drivers seat and minimizes your future repair costs... Two different paths using the same money... A paid off vehicle with a warranty is a good thing... Best of luck... 8^)
The one reason I would consider buying a vehicle is only because my preferred manufacturer pays 5k towards Ford trucks.
Imagine how cool that $5K would be if you have a free and clear trade and cash to go along with it... :thumbsup:It has cost me $5400 in 3 1/2 years but you're right. Financially it doesn't make sense as the truck is in great shape and has 103k on it. Also I guess once nearly everything has been replaced it's practically a 2014.
The one reason I would consider buying a vehicle is only because my preferred manufacturer pays 5k towards Ford trucks.
In the meantime, with only 105K miles, look into getting yourself a warranty...
Unless you DIY, just about any used or new vehicle is going to run you $1K+ a year just for normal maintenance. I don't get my underwear in a bunch until it gets up around $2K.
1k per year in maintenance? Wth??
How friggen hard is it to change your oil?
How friggen hard is it to change your oil?
I bought the extended warranty when I got my new truck, It came with, 15 oil changes and 10 tire rotations at no charge.
Eco charge is about a buck.
Payment is about the same as what I was paying on repairs and maintenance, and now I have a way nicer truck with no worries. :thumbup:
Wish I had done it years ago.
Eco charge is about a buck.
Payment is about the same as what I was paying on repairs and maintenance, and now I have a way nicer truck with no worries. :thumbup:
Wish I had done it years ago.
The problem with buying another ride is you don't know the issues and nuances of that rig. With this you, at least you know what is up. Pay it off a.s.a.p. and drive it to the ground.
Not hard at all for most vehicles. If you have nothing better to do with your time.How friggen hard is it to change your oil?
I'm not knocking DIY, I did it for years. These days, I'd druther not. :thumbsup:
For 60 bucks I can have it done in 30 minutes while I do emails on my tablet. As long as I'm busy1k per year in maintenance? Wth??
How friggen hard is it to change your oil?
Used to do my own. Doesn't equate while I'm busy.
Umm,tyb525 said:1k per year in maintenance? Wth?? How friggen hard is it to change your oil?
Here's what I can think of just off the top of my head for my 11 chevy this past year
$1000 tires (every year)
$200 oil changes
$250 Lube and fluid change
Same for me. They got WiFi where I go. I have met two clients in the waiting room too..For 60 bucks I can have it done in 30 minutes while I do emails on my tablet. As long as I'm busy
Used to do my own. Doesn't equate while I'm busy.
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