Ok, so I have a 2004 F250 CC V10 4x4. It currently has 135K on it and is beginning to need some pricey repairs....just put 2k into new ball joints/axle joints and complete fluid flush front to back. Probably looking at another $3500 in repairs this year...including some body work on a few small rust areas the carrier bearing, front brakes, u-joints, tires etc.

So I am trying to roughly calculate the cost of a new F350 Diesel including payment, and fuel....hopefully no repairs for the first 2 years anyway!

I use the truck for work...landscaping/plowing in Maine. I don't have any serious city driving, and almost never have major traffic. Much of my driving will be in the 35-50mph range. I'll be putting approximately 30k miles on the truck per year.

So, with payment(currently i'm at $340/MO), fuel and repairs, I'm thinking I may come out approximately 2k ahead in cash out of hand....I'm not including paper loss here.

So what do you think? Buy a new truck or repair the old one and keep on truckin' with her????

BTW, I'm averaging a little under 12mpg with this truck currently....I'm thinking I can pull 18 mpg with a new one....possibly better, but I want to be conservative with the numbers.

 

Well, if you're not doing any towing, the diesel may be overkill. But it sure is a sweet ride, no doubt about it. I love mine. I'm averaging around 19mpg in my daily driving, a little over 10 towing my 5th wheel, and have hit close to 23mpg highway driving.

If you just want the diesel, and can afford it, heck...nothing wrong with that. But like I said, it may be overkill for what you listed above anyway.

Good luck!

 

I will be occasionally towing a skid steer or tractor to jobsites, just not everyday or for exceptionally long distances....typically no more than 30-40 miles.

 

If you can find a way where buying new vehicle will save you money, I want to hear about it.
I bought my diesel truck with 180k on it. Added another 100k and the truck is worth more than I paid for it.

 

Wow, those are pretty impressive mileage figures

 

You will never come out ahead buying a new vehicle unless your trade in is paid off in decent shape and you buying the new one outright and not financing. It is always cheaper to fix what you have then trade it in and take on new debt especially if you are currently paying $340 a month for your current truck. You will be upside down and all that negative equity will be rolled over on top of the sale price of your new truck.

 

I live in Maine too. I bought my 04 new and paid it off 2 yrs ago, I don't miss the $500/month payment, repairs are repairs, it is still cheaper than buying a new one if you don't have too. Buying new, by the time you add the plow and accessories it adds up fast and don't forget the close to $1500 to register the new truck and higher insurance more than likely. Pay your old one off keep it for plowing, then go buy a new one if you need it, in my opinion.

 

I wouldn't opt for a diesel either for your needs. Not worth it IMO.

 

You should consider what image you present to your customers driving up in a nice new truck.

It's one thing I consider to be important in my business. Diesel? That's up to you but I truly love mine!

 

I know a lot of contractors that drive an older truck for that very reason - to pull up in front of a prospective customer with a brand new truck makes him think you're making too much profit, especially if it's newer than what he's driving. Something to think about.

 

I think he was actually saying just the opposite. Having newer equipment that looks nice is a good thing when running a business. It gives you a much more professional image than if you were running older, beat up equipment.

 

As other of stated, keep the old truck. Plow trucks take a beating as you well know and plowing (at least in my area) is paying less than it did 10 years. Keep your old plow and get new brackets and wiring harnesses, you can easily add another $1000

Pay it off and see how long you can take out the $340 a month into saving up for a new truck. Last i checked, I was looking at 55k in Wisconsin for a new Diesel Crew out the door. Financed over 72 mos, I was looking at $790/mo with 0 down.

I walked out the dealership, washed my truck and felt much better that i didn't have to come up with 800 a month for the next 6 years. But we are all different, you gotta do what makes you happy. Just my .02

 

Why not consider a new SD with the 6.2 engine? If the V10 is suiting your towing needs, a 6.2 with the 4.3 rear should be fine. Get the best of both worlds...a new truck without the big entry price of a diesel.

 

Have you thought about going smaller to a F150? I mean diesel is going to $4+ a gallon. its almost $5 here in Cali. Dont get me wrong I love my diesel but the way fuel prices are going...kill me know!

 

I use Mercedes for going to my customers and did not get any negative reaction, so don't think new truck will have them as well.
This forum will moderate you into thinking that owning gasoline powered truck makes sense on long run. Do your math and if you don't remember the math, ask any 4-grader. Compare the purchase price, cost to run and resale value of the same truck with gasoline and diesel engine. It is not rocket science.
I am hoping to get close to 10 grands for my 1999 F450 with almost 300k on the clock. What is your newer gasoline truck worth?