You can read of my dislike(I am being kind) of the 6.2 over in the 6.2 forum. I dislike it enough that I am presently looking for a 6.0 to replace it. I will spend the money to bullet proof it and never look back. If you love the power and mileage of the Diesel you will miss that when you drive a 6.2. I say keep it, pay it off then get a '16 or '17 6.7.

 

Especially a tuned 6.0...

 

Well, you know what they say about opinions, right? Anyway, here is a few thoughts for ya. You have obviously put a lot into your truck, made it distinctively yours. When you trade it or sell it the dealer or the next buyer will look at book value and will not likely place near the value on the work and money and time that you have invested in it that you did. That will be frustrating. Then you will want to customize your new truck. Aguy usually spends more when he buys a new truck than he forecasts. Also, I don't know how they charge for plates in CT, but here in MT, a newer super duty would run me around $500/year for plates, My '02, costs me under $100/year. You are young, so of course your insurance bill will rise as well with a new truck. My advice is stay the course and pay that nice truck off. You will really love it when you own it outright. Debt is one of the Devil's favorite tools my friend. As far as getting your pedal problem solved...whenever I have a situation where a rig won't act up for the mechanic, I ask the mechanic to drive my rig as his daily driver for a few days. Usually that helps. Also, it is my belief that trucks perform better and more reliably once they are named, so it might help to name that beast if you haven't already. Mine is named "silverback" and my kids just call her "gorilla". Now this is the advice of a guy who is about to turn 40, and I don't really ever need advice about how or where to spend my money since my kids and wife have it handled. Soon enough life will likely exact this same formula upon you as well. So, in the end you do what you want, because it is a small window in life between the time when your folks are telling you what to do, and the time in life when your wife, your boss, and your investment advisor take over the task of telling you what to do.

 

Couple random thoughts;
I came out of a 2000 7.3 to my 6.7, insurance only went up $30 a month, but Michigan has screwy insurance regs...
After enjoying diesel power a 6.2 is not going to make the loins tingle. I test drove one cause, well, who doesn't want to save $8000, but it was easy to pass up (at least in the heavy lwb trucks).
I've never sold a truck before I paid it off, but I always order what I want and use the time to sell it. Wifey gets a plan though, so purchase price is the same either way for me.
When your done with apprenticeship are you going to get a nice bump in income anyway?

 

How old are you? Im afraid my insurance would at least double..my friend my age just had to sell his 09 6.4 because his insurance was crazy. Yes im going to get a bump in income when that happens, not for another 3 years though.

 

I'll be 33 this year. I bought my 7.3 when I was about your age, insurance was pretty salty till I turned 21. The big hitter on insurance on these trucks is liability (is that the term) since big trucks can cause lots of other damage/injury and theft, not collision. Call your insurance agent. He may answer this dilemma for you! Or make it worse....

 

Miles , what does your insurance run?

 

i believe around 100 or so a month

 

Don't move to Michigan.........

 

#1 Beautiful King Ranch you have there.

My advice-get the throttle pedal issue fixed, then take a few months and save the difference between you're current payment and what a new one would cost. Save that money for the just in case, and to see how well you're income/lifestyle likes that payment. That might help you decide. It sounds like you really like that truck minus this last issue, I'd give it a few months to help decide.

One benefit of the 6.0 diesel is there is a ton of information on how to bulletproof them (as you've done) and feedback on how to fix issues. I don' think that is true with the newer vehicles (although warranty generally takes care of that.)

 

Here is my thoughts on the matter.

Keep the current ride. Reasons.

You are under 25.
You do not own a home.
You have not been driving for any real amount of time.(Driving abstract.)
I presume you are not married.
You have some cash tied up into the truck.
I do not know your financial history but I can tell you it will be pretty short.

why I say this?

Under 25 you are going to be hammered on insurance especially on a new truck. Owning a home, being married, financially responsible are all factors that reduce risk. (ie you look good on paper.) They do weigh in on your ratings with the insurance carrier. Plus your driving record has no real depth. At 19-20 you got maybe 3-4 years tops with the DMVs.

Owning an older vehicle would be better fiscally for you. Your vehicle payment is lower or none. Your insurance payment is generally lower on an older ride. However, this goes across the board. Single or married, age, financial responsibility, etc. I when from a $550/yr on a 1999 F150 to $960/yr on a 2011 F250! This is for a person who owns a home, in their mid 30s, is married, financially responsible, and has multiple policies with the same carrier for about 7 years. (3 vehicles, home owners, and RV.) I have been in one accident in the last 5 years. This incident was a no charge no fault per the carrier since the other party was automatically guilty with a DUI charge.

When I was living at home with my parents, I had a Mid 80s GM vehicle. My insurance on my own was going to be almost $1600/yr! However, my parents put me under their plan and made sure I got good grades for the rest of high school and throughout college to maintain a good student discount. With those efforts, I was able to half that cost to around $900/yr. When I got a Bronco, my rates actually went down since it was classified as a wagon. Therefore, it was cheaper to insure. Hence why I pretty much only owned SUV type vehicles until the F150.

Once my wife and I got married and bought a home, our rates went down on the same vehicles we had while we were dating. When we combine our policies to one carrier, they went down again. On the one Explorer I owned, I went from around $700/yr to around $500/yr. My wife's car not as much but a drop. My current Explorer went up since it was newer and financed but still stayed around the $700 range.


Going with a new ride, you will actually have more going against you at first. The things I can think of right off the bat are.

More cost for insurance. You just said a friend of yours dumped his 2009 due to the cost of ownership.

Higher interest rates. Short credit histories are a dealer's wet dream. they can charge you want they want and say "it was the best rate!" I knew a salesman that use to work at a car dealership. He said kids would come in and want to buy a car. When they found out it was their first new ride, it was the goose who laid the golden egg. The finance guys would get any old rate. They knew if it was under 15 percent, it was going to be a cash cow for the dealership.

Your trade. We all like to talk and the truck is worth $20,000. Reality is the dealer is going to make you take a bath. You will be lucky to see $10K on trade. The sales guy doesn't care if you upgraded the mirrors, or bulletproof the engine. If you have a monster lift or appearance effects, they will probably work up a slightly better number since it helps them turn the truck faster. $40,000 truck with a $10,000 trade you have a large payment every month for 5 years. If you owe which I think you stated, you are going to get probably not going to get much if any at all for the truck. You should have a nice chuck of cash to add to the down payment.

Really the only thing I could see good out of the truck purchase would be the credit history aspect. It would show you are building a history for future purchases.

I would wait. Finish your apprenticeship. Your full rate will help you in any major purchase. I would rather show $60,000/yr income than half that amount. Move out to your own place. Get a store charge or even a credit card and pay it off. It does build credit history and shows paper responsibility. That helps when the time comes for new or used vehicles. Try to do any banking with a local credit union. They generally have more flexible arrangements/ understanding for major purchases.

 

Dont worry we Left MI 3 years ago (born/raised there)

Miles keep your 6.0 you'll just start all over again (ask me how i know)

 

I'm in the keep it and pay it off camp.

Especially in your situation, age, housing status, job status, insurance issues, etc. Keep what you have and pay it off and enjoy it as is.

You build habits while you're young. Build some good habits. I see a lot of folks, even my age or older (50's) that are never satisfied. They always look to the next car, truck, rv, house, etc and never seem happy with what they have. Try not to set up that habit for yourself.

I used to buy and sell cars a lot when I was your age. I regret it now for all the money I wasted. It took me a lot of years to realize that I'm much happier by just being grateful for what I have. I just last year bought a new truck. I fully intend to keep this truck until I'm too old to drive. My last truck was a '74.

A vehicle is the worst investment you'll ever make in your life. They NEVER STOP costing you money, the only thing that changes is the terms.

Save your money for a down payment on a house. Once you make journeyman, then you can look at buying a house first, and maybe a new truck after that. A house is a much better investment than a truck.

My 2 cents.

 

Another vote to keep your 6.0.

I can't believe you would want to sell such a nice truck. I think you need to slow down on adding mods onto it at such a quick rate. I rarely remember seeing your truck in semi-stock form.

I bought my 7.3 back in August '13, bone stock, and it is still bone stock. I will eventually sell it maybe sometime this year or the next and get a southern, rust free truck. It will probably be a 6.0. Hopefully I will be able to move out of my parents house and move somewhere down south. I'm sick of the high cost to live here and the weather keeps getting worse each year.

 

Keep what you have.

You will be trading payments ... not trading trucks.