Ive just been doing a lot of thinking lately and i just cant decide whats best for the future...thought maybe some of you guys could help me out

Ill start off with the fact that my trucks been in and out of the shop since a few days before christmas for an electrical issue with a failing throttle pedal. This needs to get fixed either way, but he said the truck seems to run great to him otherwise. Its a 2003 with 130,000 miles and in otherwise pretty good shape. Not much rust, needs a few things here and there but i feel that the engine is in pretty good condition and the trans seems good too. I pay $265 a month on it for another 35 months. I love the diesel, power and mileage but im wondering if i should move onto something newer. Not to mention ive done ball joints, u joints, brakes, all maintenance right on time, its studded/new oil cooler, brand new tires and wheels, lift, traction bars, gauges...lot of money into it and i really like how it is right now

Ive been looking at a lot of 6.2s, but not sure i really want a big payment. Id have to trade my truck in or sell it myself in order to get something new. Im 19, live at home right now and plan on it for a while..so i dont have many expenses. Im an electrical apprentice and make decent money, so i can easily take a bigger payment at the moment. Now is a 5-600 payment worth it over a 265 payment? What if my hpop goes, turbo, injectors...im sure something could fail with a new truck but then again i have a warranty

I also cant find anything i want on dealer lots either, id prefer a CCLB 6.2 with 4.30s, xlt or lariat not sure yet. Should i order one? Could i get a better deal with something on their lot? If im paying that much money i feel like i should get what i want the first time and not just settle. Ordering also gives me time to take parts off my truck and sell them, and then take my time selling my truck myself. Will i even get financed at 19? My dad cosigned the loan for this truck and he can again for a new one, and he has a very good credit score so i think id be good there. Im worried that my insurance will skyrocket as well...

I just dont know, i really like my truck and i dont want to sell it, but if this pedal keeps failing or something else happens im going to have to do something. Or do it now

 

I'm not good on advice but I know the feeling with the 2003 6.0l. Its a money pit which sooner or later will drag you down. 2003 was the first year for the 6.0l and also the worst of the bunch. If everything else clicks then SELL! 130k on my 03 and its cost me a fortune in breakdowns.

 

I hear you, I am pretty much in the same boat as you. I had my excursion and loved it but it seemed every other week there was something that needed fixing.
granted I had 306,000 on my 7.3 so it was expected. I just upgraded to my 14 in my sig and I couldn't be happier. I guess the safety net is there knowing I have a warranty and I know all the service is taken care of.

I just finished my apprentice program and I am a year 2 journeyman with IBEW 701.

 

Ultimately you need to do what you feel is best. If I were you, I'd drive the truck you have until it was paid off. Fix the issues that come up and start saving for that new truck you want. I used to buy and trade cars/trucks every couple of years and can tell you from experience, you will always be playing catch-up on those payments. Over the years I learned that if I decide to finance a car, I will keep it until it is paid for at a minimum. Just my two cents since you asked.

 

Thanks guys, i appreciate the responses so far. Id love to keep it, my original plan was to keep it after it was paid off for sure. Im just kind of upset its been in the shop so long so ive been looking around alot.

 

A very personal question/ debate. I rarely keep vehicles over 2/3 years, but, that is just me. I like all the newer gadgets and really don't want to deal with long term maintenance items. I can afford payments, but I NEVER buy new and I always keep payments under $500 month. You should be able to find a 2011 or 2012 with a nice trim level for 30k or below. There really is no ongoing issues with the 6.2, so something used may be something to look at. Pending on what you get for your truck for a down payment, should be doable, BUT, only you can decide that.

If you have 3 years to go on your current truck, you could get a new one and only add 1 or 2 years to those payments. Not too bad!

Just my opinions ofcourse

 

I'm going through the same thing Miles. Love my truck, nothing major wrong with it. But it's 7 years old, small things are starting to come up, and the "reset" button looks more and more tempting especially when the used trucks I can afford are constantly getting nicer and newer. But then I think about the higher payments, and keep putting that money towards something else. I know it's going to land like a bomb in a few years when I'm trying to shoehorn a pair of car seats into the back of a Super Cab, but that's not today.

My .02c, save it. The one thing I regret more than anything is not putting enough away when I had the chance, because now it always seems like I'm playing catch up. I don't know if you're paying rent or not while living at home, but that's going to be a big expense coming up in the next few years. It would be nice to have options in the form of a fat savings account when it comes time to get your own place. Vehicles always cost you money, but housing doesn't have to be a pure loss like trucks end up being.

 

You told us the payment but not how much you still owe, if you owe more than you can sell if for then you have to add that loss to the top of the new truck you get, it seams you have done all the right things to make the 6.0 reliable. If you can sell it for what you owe then it would be good to dump it and start over..

 

Yeah thats the one nice thing about my truck being in the shop, havent really been spending any money lol. Told myself i was done with mods as well, and just gonna drive it. I put 17k miles on it since i bought it feb 2013 and didnt really have a single hiccup with the engine besides an oil cooler. And now this, which really isnt even a 6.0 problem..i just happened to get stuck with an electrical gremlin which absolutely sucks.

I also dont have a girlfriend to spend money on yet lol, or really any other expenses so thats why im trying to save money. I also dont have any other expensive hobbies besides snowmobiling, but thats just paying each weekend because the snowmobiles paid off. Have only gone once this year too...was supposed to go this weekend but ill take the extra cash to haul and plow snow for my uncle tomorrow. Anyways, the way im looking at it is i can spend another $250 or so a month, and then more insurance, or be able to have another $1000+ saved up every 4 months...and theres money to repair my truck. Plus i did so much to my truck this summer theres really nothing left...

it has new brakes, ball joints, u joints, lift, tires, traction bars, exhaust, intake, gauges, batteries, oil cooler, studs, egr delete, ficm, warn hubs, most of the fluids have been replaced, exterior and interior are in great shape. honestly the next thing i think will fail is the hpop, but once i replace that theres no worries...and once the turbo goes someday, i can replace that and no worries. So either its spend another 3-4g a year or save that...i think saving that is probably a smarter idea, even if i end up having to spend some..

 

oh right i forgot that, i owe $8400

 

Thats good, you should be able to get a good amount more for it if you sell it and put that amount down on a newer 6.2. I say dump it...

 

im thinking i could get at least 16 for it, and i can sell the traction bars, air intake, gauges, 08 mirrors...idk. its just that this is exactly what i did with my old truck, spent so much money to make it the way i wanted and then sold it shortly after. dont really want to go through that again...

 

I know what you mean, it kinda hurts..

 

Hang on to it. Get that electrical issue taken care of and drive it for a while before making any decisions.

 

I like this guy ^