I just checked out a 2003 F150 crew cab XLT FX4 w/ the 5.4 private sale. It's got 23k miles, and looks like it has been very well kept. Inside and body are almost spotless. The underside and engine compartment are showing signs of the NE salt in the winters, but I guess that's unavoidable around here.

Is there anything in particular I should be looking for in considering buying this truck - any known issues, recalls, etc? It's got the 3.73 LSD rear end, tow package, etc.

Rode great on stock 17" rims & tires. Current owner was running it w/ 20" wheels for the past year, so very little wear on the stock ones. Also had Magna-Flow dual exhaust - pretty low key, not real loud, but sounded good. Other than that, he'd tricked it out w/ some aftermarket lights & sunroof, vents, visors, radio/sub/cd changer/XM, and bed cover & liner.

Doesn't sound like he's done much mechanically besides oil changes and check ups. Brakes are original, and I would think might need replacing in the next 5-10k miles. Anything else I should expect to see in the near future?

He's asking $23k for it - how does that sound?

Also, does the 3 yr/36 month warranty transfer automatically?

I've test driven a 2004 F150 FX4 Crew and the same in a 2005. All 3 were pretty sweet, just thinking I might avoid that big(ger) monthly nut w/ slightly used.

Thanks for any input.

 

sounds like a good truck.

you can try http://www.kbb.com for a retail price, and http://www.nada.com as well. the truck's are all pretty exceptional from what i've read and know about them. In NE i would just make sure and check that 4x4, do your tight circle, and look at the front end (around radiator) make sure it hasn't been in any front end collisions, and that the radiator isn't painted, if there is then stay away with it....and front end damage and you'll be replacing front end parts more often then you change your underwear.

 

My 2001 has 49,000 miles on it and still has about 1/2 pads left on the original brakes.

 

it all depends on how it was being driven, if the guy way riding the breaks everyday going down hills, then maybe, but you should be able to look at the brake pads and tell if its over 1" you're alright

if you know the brake's are original, check them out to see how warn they are...that will tell you how the guy drove, like a maniac, or a grandma

 

Try putting it in neutral and running it up to 1600 Rpm and hold it there. If you feel a slight vibration avoid that truck. It is a unfixable problem with some 5.4's. I just finished taking my 2003 to the third dealership with that problem and they all told me the same thing that it is unfixable.

 

i used to have a GTB that did that...


jello, check and see what the cost of getting your cams rebalanced would be, it may help

 

Perf. - thanks for the links - the price looks to be right in there for a private party sale - just wondering if anyone had a feel for what they were selling for vs book value (could argue that's the same thing).

I'll check the front end - seemed like a stand up guy who babied his truck (he had a work vehicle as well, this was his toy), and he stated no damage. Good point on the 4wd - I did not engage it, but I should have. Will do next time, if I go back.

Rotors were solid, but I didn't look real close on the pads.

Jello - I'll check the 1600 rpm issue next time as well. Does this have any consequnce other than annoyance?

Thanks for your feeback. I'm leaning going with the '03, as it's still @ $11k cheaper than new even after all the rebates, and that's decent $, for 2yrs or 23k miles of use.

 

Why buy new...go with a year older and let someone else eat the depreciation. Sounds like you have a good rig there. Good luck!

 

I look at it like this:

The only way I would buy new is this time of year at Invoice (or less) minus rebates. It's the only way to avoid the massive off the lot depreciation. Say the truck (F150) MSRP's at $41k. Let's say a 3 yr depreciation cost will be 50% (@ what they use for lease depreciations), so the rig is worth $20.5 after 3 yrs w/ @ 45k miles on it (about what a 3 yr old 2002 F150 goes for today). If you buy at invoice less rebates/incentives, you can purchase that new F150 truck today for @ $33k. 3 year cost of ownership equals $13.5K (not including interests, taxes, insurance, etc).

If you buy a used 2003 F150 for $25k with 25k miles today, I would anticipate it's value to be roughly 50% again after 3 yrs and say 45k miles added for a total of 70k miles in 2008, or $12.5. Looking at what a model year 2000 (5 yrs old) F150 w/ 70k miles on it sells for today, this seems to be a fair assumption. So, your cost of ownership on this vehicle is @ $12.5 k for 3 years as well. Now this does not include interest, taxes, or insurance either, but the real wild card (w/out a warranty) is repair costs.

So, your actual costs of ownership are not that far apart on the two vehicles. A little farther if you negotiate the used price down 2 or 3 thousand dollars. You'll get 1 year remaining on Ford's warranty, but then you are exposed to potential repair costs. On the flip side, it's also a question on how large a note you want to carry with a new the vehicle, and the magic - "how much a month do you want to spend".

I bought my first new car a year ago (despite swearing I never would) under the above scenario, and I love it. I also plan to keep it a long time, so not as concerned about depreciation. Buying new is certainly enjoyable, as long as you are not feeling violated as soon as you drive off the lot. We all have a different threshold in hitting that point. For some, it's all about paying as little as possible (used), and for others, it's all about getting the newest vehicle in production (MSRP or sometimes higher - remember the new VW Beetle?).

I'm leaning towards an '03 right now, simply to keep what I owe to a minimum. That said, it's awefully tempting to get sucked into the new look of the F150 inside and out, along with the assumption that your cost of ownership is almost equal, or at least within a few grand.

 

sounds like a deal to me. Bought my 03 cause it looks better than the 04-05s. Dont care for the squared up look...looks like something GM would build!
No problems with my 5.4, but the only thing it wont pass is a gas station.
Good luck!!!

 

I went through similiar situation with you on my search for newer Supercrew to replace my 98 Supercab. I ended up buying used 2002. I let someone else to absorb the depreciation. Plus, I can breath easier with lower monthly payment. Besides that late 2002/03 are the last models of 97-03 generation, which has above average reliability and are rated highly. The 04-05 are very nice, but it's early phase of this new generation which have bugs to iron out. Fortunately, my 2002 was practically new with 22K on it which I bought few weeks ago. I'm still grinning from ear to ear.

 

Dilas - congrats on your new ride. I think we are on a very similar thought process.