When to repair or buy newer truck?

I have a 2002 f150, 5.4 triton 2v. It has 275,000 on it.
I like the truck and have taken really good care of it, but, engine parts are starting to wear out. The chassis, brakes, steering, ac, heater all is well except parts on motor are needing replaced . Body is in excellent shape, interior good.
At this time i can't afford to get a newer one, but, can do 5-7 grand for new engine.
Or, do you think it would be wise to get a reman long block and get another 100,000 out of it?

P.S. I'm not one who likes buying vehicles, unless absolutely necessary.

Thank you
Sarge

With that milage it is soon to be a moneypit and also not dependable.
I'd look fore something newer.
In running condition you may be able to get a half decent price for it.

more or less than the payments you would pay if you got a new one

so if the payment on a new one would be 535 a month for 84 months or 6284 dollars a year

if you can get 2 years or more out of this truck for 6284 or about that in repairs , then you are money well ahead to repair.

it it wasn't for the rust I might still be driving a bunch of things , with no rust down there and you have a good body and you could have a good dependable truck for 5-7k

I just rebuilt the driveshaft on a very rusty 23 year old Ford Expedition because my 5.4 is running good at 180k

it actually only cost me 150 in parts , heck I can't make one payment on anything to replace it for 150

rusted out trailing control arms caused the broke drive shaft wish I would have noticed sooner and it would have only cost me 70 well and some time rolling on the ground

You got the good out of it

Maybe try to find another similar year and truck with lower miles

Secret is to pay the off within 3 years and trade up for a new one while you still have equity.

Here is my philosophy. Sell a vehicle before it becomes a problem.

Many times in my life I have repaired a vehicle, then not trusted it, then sold the completely repaired vehicle. I absorbed the repair loss.

You may get lots of additional mileage from a high mileage vehicle, but the odds are stacked against trouble free use. Let someone else take the highly probable risk. In the long run, you should come out ahead.

Some people get any hundreds of thousands of miles from vehicles they have cared for, but the majority (greater percentage) do not.

Would you go to Vegas and bet over and over on lower priority propositions. Nope.

From one tight wad to the next, take the cream and leave the rest for the next.

I drive mine until they are no longer dependable. With the price of vehicles now. Drop a new engine in it. Or go until the engine pukes. Then drop a new engine in it. You are far better off. If you can get another 2 yrs out of that truck. The new vehicles will be more affordable. If you buy used. That is exactly what it is used. At least now you know what you have. And you maintained your vehicle well. I bought a 2008 Chevy Silverado new. Pushing 170000 on her now. Still going strong. Looks a little rough. But best riding truck I have owned. I scrap with the truck. The truck will ride across the scale one last time when I retire that truck. But has a lot of life in it yet. Good luck to you.

How's the Trans? Rear diff? 4 wd system?

If the engines worn out likely some of the other major driveline components are tired as well.

I'd look for a used motor for it if the one in it is shot. I had 100+K more than that on my 03' before the frame started rusting out and needed repair. I fixed it, but my wife really didn't want me driving it after that. I miss it.

I buy them in good shape used at a good deal. Drive them tell they break and fix them and keep fixing them. It's alway cheaper for me than 50k+for a new one. Licens plates and insurance are cheaper also. My old 97 ranger has got a new jasper rebuild motor, ac asystem, cooling system, computer, breaks, bearings, shockes and tires in the last 2 years. Yes I have much more in it than it's worth but for what I spent you won't get a truck with less than 200k miles on it and I basically have a new truck with 100k mile warranty on the motor with cheap insurance and plates.

Now if I crash it I will be out a bunch but if not it will hopefully last near another decade without major repairs. Then I may rebuild it again. If it's not rusted in half and body is still good.

That has always been my thinking. I've maintained the heck out of it and know what i've got vs not knowing. I 've had folks say it looks really good for it's age and you can tell it has been maintained. Only drawback is, it's not 4wd.
But, I don't want to have to buy another when i retire. Rather spend my money and time fishing, hunting and adc trapping.
Sarge

Tranny, drivetrain are in great shape. I always use good parts (brakes, hoses, belts you name it) Oil and lube every 3000 miles.
Body in good shape, couple dings, deer ran ( went into the freezer) into one evening. Got lucky, took out my parking lamp with no major damage.
Paint looks great. Shines up like new. Always kept under carport and waxed.
Does have its second tailgate. It seems the owner (Me) lift the tailgate down and backed to into tree. $200 later, another tailgate.
I have an appt with the repair shop thursday. Hope they can get her purring again.

Depends on how much you like it .Everything can be fixed just depends on how much you want to spend. Had a 1997 Dodge my favorite 300 k on it when I totaled it out in 2006, probably may have still had it because I was willing to stick the cash to it.

Pre certified, low mileage used car or truck is my favorite when I need to get out of an older vehicle. Warranties are as good or better than factory new, and someone else eats the depreciation. I do this around 150,000 miles to avoid a major repair.

Really depends on your situation. If it were mine I’d find a good used motor out of a wrecked pickup and swap it out and keep truckin. But my Dad has a fully outfitted mechanic shop where I have access to a 2 post lift, cherry pickers, engine stands, and triplicates of every tool you’d ever need to swap a motor. My dad and I could have it swapped out in a weekend for a couple hundred bucks. If that’s an option, go that route. If not, and the body and frame are decent, get the reman.

I'm with you. I drive a '06 with 170K on it and I just spent $2500 on it.
I know what its faults are. Nothing out of the ordinary is likely to happen.
I'll bet I can easily go another 2 years on it.
What can I get for $2500 that won't need any work?

whats wearing out on the engine? Using a little more oil? get the bores scoped out and compression checked. If the bores are good and compression is good then maybe a valve job is all that needed.

Sounds like you've maintained it well, I'll bet the inside of that engine is in good shape yet.


Buying used and driving for as long as possible is the best financial way to go on vehicles. Let others rationalize spending more on new stuff.
And don't listen to the old saying of not putting any more money into something than its worth.
If it can be kept running for less than the price of replacing it with something of equal or better quality then spend the money on fixing it.

What can you get for a replacement truck for 5-7 grand? If you've lived without 4wd for this long you don't need it. Continue to save money not having 4wd.

I've found it's a lot cheaper to fix than to replace. My old 2000 tacoma has had 3 alternators, one clutch, one manual transmission, two rack and pinion steering replaced, rear main seal replaced, radiator replaced, power steering pump replaced, heater blower motor replaced, ball joints replaced, battery replaced every 5 years, and it only let me down once. That was when the manual transmission wore out. Everything else I replaced when my mechanic said it was time. 722,000+ miles is what's on it. How many vehicles could I have purchased instead of maintaining this one over the 18 years I've owned it? It was well maintained over the years and is still in great running shape.

At 20-30k [not really that long ago] I was of the replace every 3 years or so philosophy at 70 k I'm in the repair camp. AS long as not rotted out and well maintained.

I run older vechcles because I like them better. My buddy said he doesnt know of anyone that would come close to getting the miles out of one like I do-OK the boss here surely does but I am in he running. It sure doesnt hurt having a son-in-law that is a mechanic (I do pay him well but not shop rates LOL). First thing I check is the frame, the rest is repairable if need be. Most of the newer cars onle get 18- 24 mpg, my old Suby gets up to 30 and doesnt owe me a penny. It has some rust holes, the rubber door seals are dragging on the road, half the dome lights dont work, but its mechanically perfect. I had to limp it back in twice in 4 years but I made it.
Would I leave my daughter or wife drive something like that....NO,,, but I always was a risk taker and for some ego reason have to get every drop of life out of something whether it is clothes, traps, tools or cars. I make money with my vehicles Im not out to impress anyone. I literally got sick when I would find unexplained dents and scratches on that new truck....screw that... My thoughts are- why beat up a nice new vechicle, let someone else baby it and take the depreciation lumps which is pretty big in my mind. Im sure buying new works for some but I tried that once and feel I took way more of a beating that route.

Sarge, the only thing I'll add to your thoughts is...I'm not sure the newer vehicles are made as good or better than the older ones. Example, I drive a 2018 Ram 2500 at 53,000 engine shut down it was under warranty and I got a new engine. With in the same month I talked with three other trappers that had engines go out...needed new engines?! These trucks were 2020 and under?? Trucks ranged from Dodge, Chevy and two Toyotas. Coincidence? I hope so. I know these guys ...all trucks very well maintained. Just don't know....
I think a guy needs to go backwards...like start searching for a Ford F250 4x4 with manual lockouts that has been babied...mileage might be around the same and you could work on them.
Thoughts?

It's almost always cheaper to repair than replace and that has never been more true than now. At the price of new and used trucks, you are looking at some major upgrade costs. You're looking at $20-30k minimum to do much of a jump in years and less miles. And then you have a used truck that you don't know what to expect or what's wrong with it.

You know your truck. If it was me, have a trusted mechanic really check over the rest of the drivetrain for you before making a move, but a good new or rebuilt motor will probably buy you quite a few years of reliable service.

That's not even counting depreciation!

True- Once a car gets to a certain point, there isnt much depreciation- at least not like at first. AND if the vehicle is a popular one, starts gaining value to a point. Kind of like the old 64 VW bus that was found in a barn worth 10000. Trouble is, with me, when they are done, they are done. there is nothing left and the scrap guy gets it.

As a mechanic, I agree with one of the earlier replys.. it will turn into a money pit. The biggest concern you should look at is DEPENDABILITY. Will it leave you or someone else stranded at night or in bad weather.? Replacing major components is a plus, but there are 200 other things that fall apart at high mileage. Not from abuse, just normal wear. Been there, done that. I don't want my wife to or one of my kids who borrowed my truck to be stranded. Now you add the cost of a tow truck. For me, I would look very hard at what that truck will sell for, add a few bucks with it. Look at dealer incentives and see what's out there. I don't like to have a car payment and I don't. BUT it can give you piece of mind driving something dependable.

Vehicles are high today and the cost to repair them is unaffordable making many good vehicles with any major issue disposable. New vehicles are under warranty but after that repairs are crazy expensive. A lot depends on your capabilities to do repairs or your are at the mercy of others to keep one running today as progress and technology has made simple repairs impossible.

Just picked up a older mini truck for my collection the computer it needs is available for around $500- $1000 and if the problem that fries them is not found it could fry the new unit. So a lot of research is needed that most folks don’t have the time to look into something like that it’s either figure it out or pay someone to do it.

Some people really don't get it. Or they just don't care. Thinking about buying a new truck and assuming there is a point of equity is just plain silly. You are upside down the minute you drive it off the lot and you will probably never get above zero equity. In the meantime, you have paid ALOT of interest to the bank. It's your money, and it's the way people operate these days but it's sure not for me. I wouldn't be anywhere close to where I am today if I had given most of my income to the bank.

I have a friend who is caught in the trap. He has a boat, a camper, a car and a truck and a mortgage and making payments on all of them. I think even his furniture is on a loan. Everything is done through automatic payments so he doesn't feel the pain as bad. The company he works for puts his paycheck in his account and the banks take it out. He doesn't even really like his job, but at this point he has no other options.

Debt is a trap.

To the OP, you're in a tough spot and that's what our leaders want for you, they're trying to push us all into dependency. I wish the best for you and I'll be watching because I'll be in the same situation in about a year or so with my 2010 F-150. I usually sell at 250-275k miles and buy a good used truck with around 100K, it's the most economical way to drive a dependable vehicle. But with the price of good used trucks these days it's pretty difficult.

It depends on what's wrong with it and the cost to repair.

your assuming trucks depreciate much any more other than that initial hit leaving the lot it is just crazy how they hold value

my dad keeps checking his KBB 2014 F150 6.5 foot box 4 door with the larger back seat the 5.0 v8
he told me in 2019 it was worth 16k by 2022 it was up to 22K.

it is in excellent shape for a truck that has been in 2 major accidents , he got rear ended in 2015 and lady went into his drivers wheel at an intersection in 2017

no rust always garage kept , not driven in the winter hardly at all because he goes to FL right after Christmas

I believe it my son bought a 2011 last year paid 16 and it has a touch of rust , more miles and doesn't have the 4 doors and large backseat just the small back seat.

I paid 6k for my 2004 gmc 1500 2wd in 2/20 pre covid
don't think I could replace it with the same thing including the rust for under 8 today


SGT it you don't fix you can probably sell your body to someone who will for good money.

But this hyperinflation is the only reason for the numbers, those dollars do not have the same value.

I say rebuild them . 4 years ago I bought a 1993 Toyota with blown motor but good body and frame. I order long block 1400 and installed myself with new clutch total investment with some other stuff came out to 2700 . Have around 18000 miles on it only drive in winter . I just spend another 320 for all new front end ball joints and cv axles . Everyone talks about reliability I drive it over 300 miles over 3 passes every weekend sometimes at -40 to go trapping and my kids Borrow it Constantly . Insurance is only 127 every 6 months with towing. I own 2 of them and the other one is my daily driver witch was also a rebuild I have a total of 3000 invested and could probably sell for double that . Just bought my wife a used 2010 Ford Escape last year from older couple had 17,000 miles on it and gave 6000 for it runs great . I feel people talk them self in to new vehicles by say things like I need a reliable vehicle for my kids / wife . If they brake down they all have phones it is not like there driving 500 miles away from civilization every day . In all fairness I see brand new ones being towed more then the old ones . We have become a throw away nation . I also own a 2004 F-150, that I just did upper and lower ball joints for $419 total because I bought all new arms with ball joints and was 119 to have a alignment done. I have friends that spend well over a $1000 bucks a month for a truck and insurance payment and in the end they will not get a third of the money back when they sell it .

I have a 96 f150 with the 5.0 and manual transmission and have had to replace quite a few parts over the years it is still better then the expensive new or newer used trucks.

I waited too long and had to rebuild motor and tranny at the same time. Might be easier to make payments on a new, dependable rig than to have to fork out 12k next week and still have a fixer-upper. Mine was $12,500 to get it out of the shop. Glad I had a good emergency fund, wouldn't have been fun if I had to borrow to fix it!

Look on the bright side: A lot cheaper to do it at the same time than otherwise!

Sarge I’m driving a 2000 F150 4x4. She started having some issues around that time…injector coils I believe. She now has 451K on her and only a couple hundred shy of 452K. 4-wheel drive still works and the AC still works and that’s all I need. She still has the original motor and transmission. I think I’ve got my moneys worth out of her.
Now I don’t travel out of state or anything, it’s just my hunting and trapping vehicle. I get a full maintenance check on her once a year along with oil changes still every 3K miles. Think I spend about $800 a year maybe. I’ve thought many times about a new truck, but even if I bought one I’d still drive this one, lol. For vacations we take the wife’s vehicle, so a new truck really isn’t needed.

If it satisfies your needs, and you have confidence in it, pay for the repairs. If it doesn’t satisfy your requirements or you don’t have confidence in it, sell it before it needs a 6000$ engine. Buy new or used and hope for the best. If you have 5-7 thousand for a repair, add that to what you can get selling it…enough for a decent used vehicle? One with less mileage?

Big decisions.

If it were 4x4 I'd say fix it, but 2wd? How does anyone get by with that? lol

it's a lot easier to get pulled out when you do get stuck cause your not nearly as far in.

I don't know the answer to this question anymore. Lower miles generally means more reliable most of the time, but not always. Fixing vehicles is not cheap anymore, and parts aren't that easy to get post covid.

At 60-100 an hour just in labor, it adds up quick. But, so do payments at 300-1000 a month.

The newer vehicles are questionable. For sure the bodies don't hold up long anywhere there is salt. And with all the electronics who really knows what your getting. My buddy owns a body shop and he and I are in agreement. With all these computers I'm sure they can program them from the factory to fail at a certain point .

I have a truck with 82 000 on it and 2 more years of payments. Part of me wants to get rid of it now while its still worth something. I could sell for what I owe. But, on the flip side the replacement truck isn't cheap either. I know what I have for a truck right now, I know it's history.

I think if you a have a reliable and honest small mechanic , it might be easiest to drive an older vehicle that is semi easy to work on yourself or with the small mechanics. If you have to take it to a dealer the costs will be in the thousands each time it goes it most times.

The issue is there are 3 problems these days. Vehicles are stupid $ anymore. The repairs are stupid $ these days. And the vehicles are not half as good as the old ones.

Honestly I think the best option is to get an older vehicle (like nothing newer than 2000) and do the repairs yourself or something that a mechanic can work on quickly keeping the labor costs down.

You can make a lot of repairs if your not shelling out $500 a month in payments. But you can also eat a lot of payment saving up quick if your gave many repairs to fix.

This is what I have. He's a professional and reasonable. I believe he can fix anything. He also has a machine shop. As an example, he patched my rusted frame and it only cost me $300. That included taking out the gas tank, sanding, cutting out the bad spots, fabricating and welding in the patches on both sides, and painting.

I'm seriously thinking about buying a 96 f350 single wheel 4x4 with small extended cab with 216,000 thousan on it. Tires are shot and the 4x4 shifter linkage is broke. It has some rust on one fender. But it had a good neck hidden hitch, the interior is clean and in good shape from the few pictures I got and I can get it for 3,000. Seems like a good deal if nothing else is wrong with it to me. 12 to 1500$ for tires and I would have a good 4x4 pulling truck for 4,400. Hard to find that theses days.

I just seem to prefer fixing older vehicles even when repairs can be 5000 vs 50 to 80k for a new one
I'm more likely to have what I want with an old one also.

I thought of 2 more points.

Some of the richest people I know drive the oldest vehicles. They have zero loans on vehicles. They generally don't drive as much.

Some other wealthy people I know drive newer vehicles , and trade often. They tend to drive more.

Some of the poorest people I know drive the more $ vehicles and basically drive to work to pay for the vehicle, but seldom have $ for other things.

. Steel Jaw. A lot of truth right there

My breaking point came where I was throwing good money at a 23 year old midwestern truck EVERY Year

My truck in theout in the lot is 26 years old and got me to work this morning. It's a 127 mile drive.

look at this way, if you spend $2000 a year on repairs/fixes thats the equivalent of 2-4 monthly payments. Its still a lot cheaper than new on top of that your insurance will be less, and minor scratches and dents just add character.

Newer vehicles can come with their own baggage and the much higher cost. Even if you had to double the cost of the vehicle to me it is still 1/5 of what you would pay for a similar used truck that would be 5-7 years old with 100K. Not all mileage is bad.

Bryce

As long as my Cummins doesn't rust bad I'll keep fixing it, it's cheaper for a couple hundred dollars a month to fix , compared to 6-700$ a month for new pmts.
I have 454k on it now

I was in that spot about 12 years ago. 260k on my '98 Chevy. Started looking for a decent used pickup for reliability. I put about 30k miles a year on a rig at that time. Everything used with 50-60k miles on it was within $5k of new price. Farted around long enough looking that the head cracked right when I had about 400 acres of hay down and had to buy something. Ended up getting a great deal on a new 2011 Dodge 1/2 ton
Had it been winter I would have just done a complete engine rebuild. Now I'm back to almost being in that situation again. Just turned 245k on the Dodge. Still going but starting to have a lot of little problems here and there. I ordered one of those new Ford Mavericks last Fall. I'm getting 12 mpg out of my Dodge so my fuel mileage should double. I can do 90% of my running around with the little pickup and not put so many miles on the 1/2 ton that'll cost $50-60k to replace. I'll save it back for when I need to tow instead of completely wearing it out. Maverick is $30k out the door. I'd rather wear out a $30k rig than a $60k rig. Fuel mileage savings per month will basically make my payments. With used prices right now, any full size pickup at that same price point is already high mileage. If there's other savings involved, sometimes a new rig makes better sense.

Rust belt truck?ⁿ8

I envy you guys that don't have your Ride rust out from underneath you.

My old 2004 Canyon (2wd) is at 234,000 miles and still running strong. It gets used primarily when not wanting to take out the 2021 GMC Elevatiion.

The 2021 GMC will probably be my last truck. If it lasts like my 2004, I will either be very old, or in the dirt.

We get tons of salt on vehicles here if you drive on the highway.
Before they started making aluminum bodies I would wash and wax my vehicles at least once a month but more like every two weeks.
I sold a 2003 f-150 in 2017 with 300.000 km on it,a lot on the highway,and it had no rust.
An old guy I worked with used to wash his old truck down with a rag soaked in kerosene every fall and spring.The paint looked real dull but never a speck of rust on his old truck.

I'm seriously weighing selling my 2017 Ram with 83000 miles for a little bit more than what I owe, and buying a 95 Chevy half ton with a 350 and 5 speed. It has 215000 miles on the body, little rust, but a rebuilt motor and transmission. I could pay off a lot of credit card debt and then save $ for something else down the road. I'm so sick of car payments and a vehicle to me is nothing more than a tool. Some people take great pride in them but I could care less as long as it gets me point a to point b.

You'd probably be very surprised at how good it would feel to get that weight off your back. Being out of debt is amazing and just think about how little your insurance would be compared to now.

Or you could sell a reliable ride you know that is getting close to paid off and buying a turd that will be broken down all the time….

I would be wary of trading one known bill for an unknown quantity. But if you need to, you do…

I just bought a '96 Ford Ranger. Didn't even look at the miles. Got it for $1000, so I figure if it lasts a year it's better than payments. Hopefully last a lot longer, even if I have to put some money into repairs.

I use a clear liquid wax, Ice from turtle wax.
I put a strip of roof flashing in my wheel wells to prevent rock damage.
I remove them, make new ones or just put old pieces back on after covering all bare or rusty metal with axle grease, every summer.
In the winter I pour warm water over the body to help remove salt between washings.
I have a couple pin holes in two fenders, otherwise it is still clean, Brite white would look bad with rust on it

wool wax or fluid film, spray under your truck, inside frame, everywhere u can get it. You can buy fluid film at home depot. Helps stop the rust.
I have had the same truck for 13 years, bought with cash. If the motor blows up .tomorrow ill put a new one in it. I would rather put what i would be spending on a truck payment on my house payment.

Fix it
You wouldn't believe the stuff we fix in ontario. It's not uncommon to completely replace a cab and box on a truck, rebuild doors, change sub frames, fenders. Engines and transmissions. You name it
Or even frames etc. New vehicles are basically un affordable unless your totally broke and have nothing to loose anyways or older and have lots of money.
I have always drivin junk and it's just the way it is. Even good used vehicles is getting hard to find

I collect these old Dodge (Mitsubishi) mini trucks I picked up this 91 V6 4X4 last week it’s still a very solid truck one fender had a bad spot but I have several fenders in the shed.

Just turned 90,000 km today on my 2021 it will be someone else problem in about 6 months. I do all my regular maintenance to the t but need a good truck driving 2 to 3 hours in the bush each day. So I don't have time for breakdown. Scraped a 300 dollar tire last night only on the truck a month probably my one fault I thought the truck was a little slow. Lol