Hi...

If you haven't noticed, this is my first post to this forum. I found this site when I was doing some Googling on the V10. It seems that there is alot of valuable information here.

I am searching this forum for answers...but it has been slow going.

I have a 98 GMC that just lost its tranny. Sucks, but even worse is that I was beginning to look at trading it in on a 4 dr truck when it went. Even worse is that I am about $4000 upside down (wholesale to payoff) even before the tranny problem. Oh...and yes, it gets better...I can't afford to fix the tranny on the GMC ($1200 to $1500) since the bill must be paid in full before I get the truck back.

Did some figuring and found that if I can get someone to take the truck in on trade with the bad tranny (even though I will take a hit on it) I can get another truck...and basically be refinancing the losses into the new loan. Since my Credit Union is willing to let me finance 115% of the book on another vehicle, I can make this work.

So I found a truck I like. A 1999 Ford F250 Crew Cab with the V10. It has high miles....92K. It looks to be in good shape. It was obviously used to pull a 5th wheel at one time, since there are mounting holes in the bed. The interior looks to be well kept, and the only problems I can tell are that the back door locks don't consistantly work with the power lock button. Oh...it has new tires that the dealer put on.

Other than the miles...it seems perfect for me. And the catch is...that it is because of the high miles that I can afford the truck. The money that is deducted on book for the miles brings it down to reach for my current situation.

So...any problems with the 1999 V10's? How are the high mileage trucks holding up? Any input?

Thanks.

 

Welcome to the site!

Keep in mind that a "new" truck will also come with registration fees and possibly other taxes depending on your locale. If you finance these too, you'll be even more "upside down" in your new truck. Besides, unless the dealer is going to give you some kind of warranty, who knows what you may have to spend should something like a transmission fail on the Super Duty. With that many miles (and the towing), it's a gamble to think nothing will need to be replaced.

Personally, I think the more economical solution is to repair (and keep) the GMC until you are better situated financially. Talk to your credit union about a personal loan to make the repairs.

 

since your upside down i'd say just keep the chevy. (i know i'm the anti-christ for saying that) unless you do alot of towing your going to loose buying the V-10. they are going to make you pay to give them your truck.


my dad just had to put a new tranny in his 97 z71. seems chevy is having a little problem with their 4L60's. knowing of the problem, i babied my 97 tahoe transmission (only used OD on the interstate etc.)

anyway, he just had a real nice allison put in for 1200 bucks. he said its alot better than the oem. i'm not sure what model it is, but i'd definatly reccomend it over a rebuilt 4L60.

as far as paying the bill, you could look at taking a loan out from the same people who financed your truck. they will probabaly help you out and loan you the money. more than likely they might even add it into your monthly payment.
thats what i had to do when my old 95 Z71 spun a crankshaft bearing, then finally let loose sending engine parts everywhere.

 

I won't get in to weather or not you should keep the chevy. I have a 99 with 114k on it and so far its been pulling strong, just as strong as when I bought it, if not stronger. If the Ford was well maintained it should be able to go another 100k or more without any major problems. These modular motors are much more advanced than anything Chevy is building. The weakest part in the Ford is the transmission. Drive it and see how it shifts. Smell the transmission fluid to see if it's got a burned smell. You are taking a chance on it no matter what..

 

Thanks for the input so far. We have come up with $2K so that part is out of the problem.

Brian_Puff:

I didn't mention this before...but I have been pulling a boat and hauling around a slide in camper (mountain terrain). I knew I was flirting with the GVWR on the GMC....but I am actually a little over. I have been wondering if what I use the truck for is too much for the 1/2 ton to handle. I was already looking for a 3/4 ton when the tranny went out on the GMC. The numbers are worked for the deal, and the dealer will take it with the bad tranny. I need $2K down to make it work. I have been quoted close to that for the work that needs to be done on the GMC. I guess what I am saying is, you're right...but under these circumstances where I have to come up with a couple of grand either way...I would rather put it into a bigger truck.

NoMo: I have thought about what you have said also. Every used vehicle I have owned in the last 6 or so years has been bought with an extended warranty. In fact the GMC had an extended warranty for one year. Nothing went wrong during that year. Now the tranny is dead. I did some figuring and realized that alot of what made me upside down in the past was buying these warranties...and never using them. As far as tax and license...if I get the newer truck, the loan will not start for 45 days...which means I can effectively skip a payment. That money will go towards tax and license. We can make that work okay.

I guess what it boils down to is that I feel like we have outgrown our current truck. The back seat is cramped with kids...and the GVWR is often exceeded.

I am looking at more of a long term solution. If the tranny were to go out in the F250 next year...then I guess we would just fix it..because we wouldn't be looking for a bigger truck then.

DJR 17: Thanks for the input.

I have the truck for the long weekend...so I will really be looking at it and driving it. Any other tips of things to check or try?