Good Buy?
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Cargo Master
Joined: Nov 2003
Posts: 2,000
Likes: 39
From: North Dakota
Good Buy?
So I saw this truck on a lot for sale today. It is a 2004 F-350 auto extended cab 4x4 and it has the 6.0 diesel. It has a near perfect body and interior. The only thing is it has a little over 140,000 miles. Obviously they are highway miles but still pretty high. They are asking $13,500. What do you think about the price?
Postmaster
Joined: Mar 2007
Posts: 2,612
Likes: 2
From: Dunwoody, GA
Highway miles or not they are miles. I would see if you can find a reputable Ford diesel tech in your area and see if the dealer will let you take it to them for an inspection. Price sounds almost too good to be true.
Post Fiend
Joined: Oct 2005
Posts: 10,626
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From: Plano TX and Brentwood TN
Originally Posted by riggz
Highway miles or not they are miles.
Fleet Owner
Joined: Nov 2003
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For ths price, if you do a reasonable amount of checking (check background for flood damage, wrecks, and certainly check Oasis for repair, etc.) you almost can't go wrong. I would consider financing as much of the full amount as possible and then put aside $3-4 k or so in an account so it is there if you ever need it for repairs.
Of course if cash flow isn't an issue for you then I would pass on this one and look for a brand new 2007 (if you could still find one).
Of course if cash flow isn't an issue for you then I would pass on this one and look for a brand new 2007 (if you could still find one).
Senior User
Joined: Aug 2005
Posts: 336
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From: Leander, TX
Originally Posted by bismic
For ths price, if you do a reasonable amount of checking (check background for flood damage, wrecks, and certainly check Oasis for repair, etc.) you almost can't go wrong. I would consider financing as much of the full amount as possible and then put aside $3-4 k or so in an account so it is there if you ever need it for repairs.
Of course if cash flow isn't an issue for you then I would pass on this one and look for a brand new 2007 (if you could still find one).
Of course if cash flow isn't an issue for you then I would pass on this one and look for a brand new 2007 (if you could still find one).
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Fleet Owner
Joined: Nov 2003
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I agree - unless you can not afford to pay cash for an unexpected expensive repair. So ......... if you buy used, and then your injectors go or your head gasket fails, you are stuck without cash to fix it (not many repair shops finance and credit card debt is something to avoid at all costs)!
You always should have cash reserves to pay for unexpected items before you buy used!! Been doing it for years and it is financially the better way to go (IMO), but you have to anticipate having an unexpected problem. I have also seen too many kids put all they have in a car and then it sits for months while they save up the money for a major repair.
Obviously, if you can pay cash and still have money for repairs you are home free.
You always should have cash reserves to pay for unexpected items before you buy used!! Been doing it for years and it is financially the better way to go (IMO), but you have to anticipate having an unexpected problem. I have also seen too many kids put all they have in a car and then it sits for months while they save up the money for a major repair.
Obviously, if you can pay cash and still have money for repairs you are home free.
Last edited by bismic; Dec 15, 2007 at 11:27 AM.
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Post Fiend
Joined: Oct 2005
Posts: 10,626
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From: Plano TX and Brentwood TN
Originally Posted by mastercaster
vehicles do nothing but depreciate.
Fleet Owner
Joined: Nov 2003
Posts: 27,924
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My company credit union is asking over $20k for an older truck (2003 I believe) with just over 100k miles. The $13.5 sounds like a very good price - one that shouldn't be depreciating very much at all in the next few years. If you decide to go for it - best wishes! These really are great trucks!
Posting Guru
Joined: Oct 2006
Posts: 1,714
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At that price it sounds like it may be a problematic truck that was maybe even a Ford buy-back at one time....I would research it to the max. You know it is said that most deals that are to good to be true usually are!! Sounds fishy-be careful. Congrats though if it turn out to be a good deal!!
Senior User
Joined: Aug 2005
Posts: 336
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From: Leander, TX
Originally Posted by tex25025
That's not true, vintage vehicles are worth more now restored then they were originally. I know we are not talking about a vintage truck, but not all vehicles do nothing but depreciate.
Last edited by mastercaster; Dec 15, 2007 at 02:12 PM.
Post Fiend
Joined: Oct 2005
Posts: 10,626
Likes: 7
From: Plano TX and Brentwood TN
Originally Posted by mastercaster
yeah, your right. that's why i didn't state "all" vehicles. but 99.99% of the ones talked about on this forum do nothing but depriciate. add that depreciation to the interest you'll pay on a loan, and you may as well bend over for the banker! banks are pretty much useless. when someone really needs the money, they don't want to help, when you have money, they are standing at the door to give you bundles more of it (at a rate of course).