I've got a bit of a dilemma...

I have the possible oportuninty of getting into a '01 F250 CC 7.3L 6spd 4x4 for very near or equal to the payments on my '02 F150 supercrew.

I'm going to try to be vague, but provide enough detail to get the picture. The F250 has 130K mi on it, but I can get into it for ~$4K under KBB retail, with out haggle. My current F-150 has 110K mi, and is in great shape.

Here's the catch; the truck is in Texas, and I'm here in South Dakota, the other catch is I'm pretty sure I'll have to sell my F-150 outright, as I'm in the red on it, especially when looking at the trade in dept.

If I sell my truck out right I should be able to zero out the loan.

The F250, even though it is in texas, from the 20+ pics I've seen has been well taken care of...not even a door ding to be seen, and also has a spotless carfax.

PROs:
F250 should at least see 15 mpg, as my dad's auto 7.3L sees 17 mpg, F-150 barely squeaks out 14 mpg.

F250 diesels hold value better. F150 resale is plumetting due to new redesign (and I mean fast).

F250 has more every thing in terms of capability in terms of a slide in camper and towing a boat at the same time, and should get better mpg at the same time vs the F150.

F250 would be in the black (in terms of owed and worth) where as F-150 is in the red (tradein vs owed), and is getting worse.

Cons:
I have to fly to Tim-buk-too and drive pretty close to a 18hr drive back.

I will lose the $3K that I've dumped into payments on my F150, in other words starting all over.

I have to try to sell the F-150 in a short time period, and could take a small loss that would have to be transfered to F250 loan(would still be in black in a worst case senario).

I have to go to Texas....J/K I've never been there, and sure would love the trip!
............................................

Ok, Figuring in travel (air, hotel, fuel) and tax and license, and worst case senario interest, my payments would go up $30 a month, but I'd be starting over on a vehicle that is in high demand in my area. I figure even if I had to have the tranny rebuilt, I'd still be in the black by a good margin.

Locally I cannot dream of seeing this same F250 at less than $6K more than the price of the F250. Trust me, I've been looking and swabbling for weeks. Diesels in my neck of the woods simply don't get dealt on.

Would you be willing to purchase this truck from a dealer who has execellent feedback, is willing to give you a ride from the airport, and the vehicle has a spot less carfax? I should add that the dealer has warranty services avaiable. $695 will get you a 12 mo unlimited bumper to bumper.

Would the small increase in payment scare you?

Any advice is appreciated.

 

I don't see a down side to this at all other than you are upside down on your 150. Question, I don't know the timing that is involed but can you afford both payments while trying to sell the 150. Saving 6k more than makes up for the trip. Be careful of the warranty. Make sure it is good in your area.

 

I'm hoping to discuss a plan of action with my banker. I can handle a double whammy for 2 months, after that it could get dicy.

I have a feeling that the bank will want to hold the note on something that has a good bit more value.

I did something similar when we sold my wifes '00 Taurus and bought the '02 Explorer, instead of trading in the Taurus on the Explorer.

Even though I sold the Taurus at $1k below "book", I still made up $1.5K in addition to what I was offered for a trade in.

I also plan on calling the owner, and have him fire up the truck while on the phone.

 

I wouldnt be nervous at all about a 7.3 with that few miles on it.

Sounds like youve got a good plan going

 

I'm trying to look at this from a standpoint of vehicle worth, incase I ever have to unload the vehicle for some weird reason.

Tommorrows talk with the banker will be the deciding factor, I'm just trying to get all the bases covered out of the gate.

Any one else have any suggestions or tips???

 

Great news!

I talked to my bank and they were very willing to help out....infact my payment in the worst case senario is going to be less than what my F-150 is, and it will only cost me $36 more a year to insure!

Now I just have to win the auction at a low enough price to allow for a tuner and maybe a exhaust!

I'm pumped!

Hmm I may have to raise my carport...F-150 barely makes it in as it is!

 

Sounds like you've done all the homework. By the info you stated, you could get the Texas truck and in a worse case scenario, sell it in your home state for a profit if you got in a bind financially. The profits could then be applied to the upside down F150 and the remainder refinanced for lower payments/terms. Win-win situation if you ask me. I know you wouldn't want to sell the 250, but you COULD if you absolutly had to couldn't you? There are always other trucks out there.

 

I defiantely will be selling the F-150, I have no plans on keeping it now. Some of the accesories will be sold to buy some for the F-250, but for the most part it will stay the same as it is in my pic. I seriously doubt that I'll have trouble selling it.

I could sell the F-250 if I had to as I would still have the wifes Explorer.

 

I got bad news... I lost the auction on the CC in texas...

But I managed to find a '00 SD supercab short box, 4x4, auto with only 46,000 miles locally!!

It's sitting in my driveway now! Here's the kicker...I only paid 1.5K more than the CC in Texas, all in all I think I made out well.

My payments did go up $36 a month though....

 

Oh great....another defector from the F150 forum to the Super Duty forum
sniff sniff

Sounds like you got yourself a nice truck at a good price
What color? Options?

 

LOL, I decided this while working on the ball joints on my F-150...once I opened the hub bearing, I had enough. Don't worry, I still plan on making that tech article before I "defect".

With the deal I got, I simply couldn't refuse!

2000 F-250 Super Duty, 7.3L, SuperCab Xlt, 4x4, Short box, tow package, with 47,000 miles (it just rolled when I was showing the truck off to my brother in law). Deep Wedgewood blue is the color (or close to it). Not a ding to be seen, and the frame is still black! I'll post a pic tomorrow.