Newer Truck vs. Low Mileage Old Truck

[Lefty7mmstw]

I'll take a brand new truck over a used truck even with the price where it is today. The warranty is a good part of it but not all. I know what's been done to my truck if I buy it new. A used vehicle is a crapshoot; you could get a good one or something that should be dead and buried. I'm not especially fond of tearing apart a ride and I work out of town so it might be waiting a good bit to get worked on. There will always be at least 1 truck in the yard under warranty so the wife can just toss the keys to the dealer and make them do any work needed to it.

5 of the last 6 vehicles that have come into my yard were brand new. I returned the lease on my '12 Volt and traded my '15 Camaro SS for a pickup. The kids got too big to shoehorn into the back of the car. The '16 Ram we leased was bought out and paid off. The '18 Chevy 1/2 ton max tow pickup regularly pulls a 4 ton travel trailer around. It's seen most of the mountain passes in the Rockies already and really didn't need to slow down for any of them. We drove into the local Ram lot on a whim last September and leased a new '23 Bighorn for the heck of it. It seems like a good truck so far, but we really aren't driving it that much either. It'll probably get bought out like the '16 Ram.

We did buy a used '14 Escape a few years back for a kid's ride. In 20K+ miles it's eaten me for an alternator (that was fun- 8 hours to yank that puppy), tires, brakes all the way around, 2 batteries, spark plugs, and assorted lights (try changing the lights on a 10 year old ride that wasn't well maintained before you got it. We had a taillight take over an hour. Yup, a lot of that is standard maintenance, but we haven't even had the thing for 25K miles.

The '18 Chevy will be paid off soon. I'm thinking about what I'll do next. I'm not sure if I need to buy another new truck but the 3/4 ton and 1 ton Chevy/GMC trucks with the direct inject 6.6L gas engine seem pretty decent. I've been in a Chevy 1 ton cutaway truck with a 6.6L gas for a year for work now and it's 20+% more efficient than the 6.0 it replaced. It's got better power to boot.

 

[Mrvmax]

I've been thinking about the question from the OP more. Think about how much money is wasted buying new vehicles, the average person buys one every few years and never has anything paid off. Some trucks cost as much as I paid for my house. Spending close to 100k for a depreciable asset is not a smart financial decision. Figure out how much money you spend every month on having a new vehicle. Then figure in what a used ne costs along with occasional repairs and it will be clear which one is the better choice.

I am sure some have seen those videos where someone goes around the car dealership asking the employees how much their car payment is. $1000-$1500 is common, some were double that, It is no wonder young people cannot afford to buy a house when they spend all their money on having an expensive car that depreciates every time they drive it. Too many people live beyond their means and the auto manufacturers are not making affordable autos. They keep adding more and more technology and junk nobody needs then jack ups the price.

Take the Cadillac Escalade, a new one is 80-160k and they are known to lose value quickly. But, it is a status symbol for some so they still buy them. It is a stupid purchase, the poor stay poor by making poor financial decisions.

 

[Lefty7mmstw]

I've been thinking about the question from the OP more. Think about how much money is wasted buying new vehicles, the average person buys one every few years and never has anything paid off. Some trucks cost as much as I paid for my house. Spending close to 100k for a depreciable asset is not a smart financial decision. Figure out how much money you spend every month on having a new vehicle. Then figure in what a used ne costs along with occasional repairs and it will be clear which one is the better choice.

I am sure some have seen those videos where someone goes around the car dealership asking the employees how much their car payment is. $1000-$1500 is common, some were double that, It is no wonder young people cannot afford to buy a house when they spend all their money on having an expensive car that depreciates every time they drive it. Too many people live beyond their means and the auto manufacturers are not making affordable autos. They keep adding more and more technology and junk nobody needs then jack ups the price.

Take the Cadillac Escalade, a new one is 80-160k and they are known to lose value quickly. But, it is a status symbol for some so they still buy them. It is a stupid purchase, the poor stay poor by making poor financial decisions.

There is buying a truck and there is buying a luxury vehicle with 4wd.
I'll take something like a Ram Bighorn or LT / LTZ level Silverado, but you jump across to the Caddy without a job that's paying north of 100K a year and you need mental help.

 

[FEENIX]

I've been thinking about the question from the OP more. Think about how much money is wasted buying new vehicles, the average person buys one every few years and never has anything paid off. Some trucks cost as much as I paid for my house. Spending close to 100k for a depreciable asset is not a smart financial decision. Figure out how much money you spend every month on having a new vehicle. Then figure in what a used ne costs along with occasional repairs and it will be clear which one is the better choice.

I am sure some have seen those videos where someone goes around the car dealership asking the employees how much their car payment is. $1000-$1500 is common, some were double that, It is no wonder young people cannot afford to buy a house when they spend all their money on having an expensive car that depreciates every time they drive it. Too many people live beyond their means and the auto manufacturers are not making affordable autos. They keep adding more and more technology and junk nobody needs then jack ups the price.

Take the Cadillac Escalade, a new one is 80-160k and they are known to lose value quickly. But, it is a status symbol for some so they still buy them. It is a stupid purchase, the poor stay poor by making poor financial decisions.

All vehicles depreciate almost immediately (exaggeration ) when driving off the lot. A study/purchase recommendation states that most of the depreciation of a new vehicle occurs after 2 years, which supposedly is the best time to buy. When I purchased my 2011 Toyota Tundra, a used one was in my local dealership. It has everything I need/want, and I want to support local businesses, but they won't budge. Perhaps because I live near a military installation, they can sell it to a military member who does not know any better. I purchased mine 3 hours away and ended up <$2K than the used one. 6 months later, they contacted me to ask if I was still interested.

 

[Mark37082]

I haven't had a vehicle payment for around 20 years, and I am nowhere near what I would consider wealthy. I made a couple of mistakes on vehicles in my lifetime (bought a Mercedes SUV for my wife). The cost of maintenance is something everyone should consider. Fuel costs have never been a real consideration for me as I'm afflicted with the more power is better disease. Peace of mind and reliability are top considerations for me. The days of cool new cars and trucks are gone.

 

[Husky user]

Last winter I bought a F150 XLT with the 3.5 twin turbo V6.(2020)
It had 25,000 miles on it ,it was a $60,000 truck ,got it for $36000.
It gets 24MPG on the highway at 80MPH and 20MPG short tripping.
I wanted all the high tech, navigation ,back up camera,10speed trans ,Aluminum body,etc!
That aluminum body saves 700 pounds(like kicking 3 fat girls out)and no rust!
I always try to buy lease returns or used ,always up grade 8-10 years.
Anybody that says the old rigs were better never lived with break down after 100K.
While looking on the internet for this truck I saw lots of trucks like this one with 170-200,000 miles.
The biggest problem I had was finding a club cab, seems everybody but me wants a crew cab.
My truck is an elk hunting rig and I don't want to haul more than one other person(thats my rant)

 

[crashlanding]

You own/work at a shop?
What's your opinion on auto transmission service and when to service? I've heard different opinions over the years on if to service or leave them alone.
2019 F250, 6.2 gasser

Crazy, I just saw your post, my truck is a 2016 Chevy Silverado with 75,000 on it, I bought it used in 2019 with 29,000. We are set on moving my daughter up to northern Idaho next week pulling a trailer with her stuff. I decided to send the truck in to the dealer yesterday for an oil change and transmission flush, mind you, I have never sent a vehicle in for a transmission service. It's nuts, the truck is performing better than it did when I bought it, I don't notice it shifting and it just flat out runs smooth. I was always a change the oil at 3 months or 3000 mile type guy but ignored the other fluids, a new lesson has been learned, if you buy a vehicle that's young, keep up on all the recommended maintenance schedules, I "think" it will help in the long run. As far as the OP's original question, buy what you can afford.

 

[baldhunter]

At nearing 68yrs of age,I'm retired and I don't really drive that many miles a year anymore.I just can't see buying new trucks at the ridiculous prices these days.The last new truck I bought was in 2002.It was my first non-Ford truck.I bought a 2002 Toyota Tundra 4.7 V-8.I paid it off in 2007,so I haven't had a monthly truck payment since.It has been the best vehicle I've ever had and at 22yrs old,I have 213,000 miles on it and it's still a great truck.Four years ago I came across a great deal on another 2002 Toyota Tundra 4.7 V-8 with 143,000 miles on it,this one is a 4x4,my other is a 4x2.I paid $6000 cash for it,so I now have two.They are both great trucks.Not having a monthly vehicle payment for 17yrs = money in the bank.Being in debt is a guaranteed way to stay broke.At my age,between these two,I may never have to buy another vehicle and I'm OK with that.

 

[Dr. Vette]

Here in MI the salt and rust will kill a truck before anything else.
I rebuilt the upper half of the engine in my 2013 last year due to the infamous AFM lifter collapse problem, but now the body and frame are on their way out. My usual estimate of truck life here is 10 years, rust limited. The powertrain works beautifully, but you do need a frame to hold it all together.

I have been very tempted to buy a new 3.0L diesel in a GMC or Chevy, but would like to see another year or two of data on them. As a result I'm likely going to purchase a low mile 2017 GMC from a friend that hasn't seen salt. It looks like new underneath and is far less $ than a new one. I have never purchased a new truck, only ones 2-3 years old letting someone else take the depreciation hit on them. Used prices are much better than 2-3 years ago, which is good.

 

[cajun]

Whatever you decide I would keep that old chevy. The 90's models are really starting to go up in value. Won't be long the 2000's will as well.

 

[Victor3Ranger1]

Whatever you decide I would keep that old chevy. The 90's models are really starting to go up in value. Won't be long the 2000's will as well.

No kidding.
I have a 76 Chevy 3/4 ton 4x4, 82 Chevy 1 ton duelly 4x4, 86 Chevy CUCV and a 95 Z71 stepside.
I have people all the time asking if I would sell one, some offer pretty crazy prices

 

[cajun]

Man whatever you do I would keep that chevy.

No kidding.
I have a 76 Chevy 3/4 ton 4x4, 82 Chevy 1 ton duelly 4x4, 86 Chevy CUCV and a 95 Z71 stepside.
I have people all the time asking if I would sell one, some offer pretty crazy prices

Wanna sell that 95 haha. I had a 98 fleetside. 5.7. My all time favorite truck.

 

[1mechanic]

It's actually the opposite. If you are past 100,000 miles don't flush your transmission, just service it. When you get a lot of miles the fluid breaks down and gets a varnish coat. When you flush it that will loosen up, but it has usually impregnated the friction material, which will loosen up also and start to flake off. Also the magnet is in the pan to catch break in debris. If it breaks free from the magnet it moves on to the next magnetic component like a shift or pressure solenoid, and hinders it. IE the pintle gets gummed up and does not open or close as fast or as wide as it should. It sets you up for a damaged friction component. The local "quick lube" shops make you sign a waiver to flush a transmission with over 100,000 miles. The advice is free, a broken down transmission is not.

Edit- I meant to say the opposite of what most might think. Not the opposite of what birddog 68 just said.

He's right on.

The other thing I've seen ( at least down here ) is if the vehicle has more than 60,000 miles don't do a total flush.

With the heat down here on the newer transmissions they have a thermostatic cooler bypass that can reduce cooler flow up to 70%, I ask my customers if they're ever going up to Alaska if they say no I get rid of the thermostat in the cooler line for more flow.

The only other thing different than what Ol' Red said is I've seen where after so many miles the clutches and steels get a glaze on them where they are slick as glass. The lack of viscosity in the fluid helps them bite, so if you do a total flush on an old transmission the new fluid is slick too and the clutch packs can slip a little creating hot spots on the steels. The hot spots sit proud of the flat of the steel and drags on the clutches wearing on them.

Down here on work trucks I recommend changing the fluid ever 25,000 miles due to the heat we have and especially on 6l80 transmissions

 

[Ol' Red]

He's right on.

The other thing I've seen ( at least down here ) is if the vehicle has more than 60,000 miles don't do a total flush.

With the heat down here on the newer transmissions they have a thermostatic cooler bypass that can reduce cooler flow up to 70%, I ask my customers if they're ever going up to Alaska if they say no I get rid of the thermostat in the cooler line for more flow.

The only other thing different than what Ol' Red said is I've seen where after so many miles the clutches and steels get a glaze on them where they are slick as glass. The lack of viscosity in the fluid helps them bite, so if you do a total flush on an old transmission the new fluid is slick too and the clutch packs can slip a little creating hot spots on the steels. The hot spots sit proud of the flat of the steel and drags on the clutches wearing on them.

Down here on work trucks I recommend changing the fluid ever 25,000 miles due to the heat we have and especially on 6l80 transmissions

I forgot to mention the thermal bypass in the cooler line. Back in the 90's I wrote a TSB for ATRA about the problem with not getting a transmission up to temp in extreme cold. Now the cure for that has become a new problem. Cliff McCormick from ATRA and I used to worked together in Washington, so we worked together on a few bulletins together pertaining to cold weather problems after he went to work for ATRA in California. He retired before they moved to Texas.