Mileage and used vehicles

[mi223]

I am starting to look around for a work truck for my new business. It will be a 3/4 or 1 ton srw. Not sure on gas or diesel yet.

Anyway curious what you guys opinion is.

Would you rather buy a newer truck let's say 2015 or newer with 140k-200k miles

or would you look for something a little older with let's say under 100k miles.

i am in Michigan so rust is always a concern with older vehicles.

i would guess I will put on 10k-20k a year. I would like to buy new or lightly used but that isn't in the cards now. The cost of new and used trucks is crazy right now so trying to stretch my dollars as far as I can.

thanks guys.

 

[SONIC SAAMI]

I wish I had some good advice for you but I don't.
1 thing is for certain though, prices on Vehicles will not be getting any less expensive anytime is soon.

 

[BullGear]

I don't think you can make a blanket statement. You're going to have to look at each truck and determine your feelings for that truck. A 2010 that was babied by it's owner or only used for weekend trips could be a better buy than a 2018 that was used as a work truck 6 days a week. But you're going to have to do the leg work and look and drive each truck. If you're buying from a dealer, they have good prep men and those trucks can be deceiving. They can look brand new when in fact they are dogged out.

Good Luck!

 

[TxWelder35]

Be prepared to have to put money into either truck in big amounts constantly.

transmissions, rear ends, ball joints, turbos, radiators, water pumps, wheel bearings, etc you all expect to start needing to be replaced in a truck with mileage like that.

what is your budget for this truck?

 

[chevy_man]

I grabbed a 100k mile 18, but it's a duramax and I got it for gas price. Already had a service body so that was a value adder.


I'm looking for a 15+ gasser to keep as my personal truck, and it's stupid right now. May as well buy new if you can find one. I'm seeing 100k mile 07's still in the $20k range, and 15+ are 150k in the $25-30k range.

Supply is screwed up, so unless you want a Ford diesel that will spend more time in the shop than the road (we've never had one that was reliable, spent huge amounts of money on "the most reliable" while the Chevy's keep going with minimal maintenance). I will say the Ford interior lasts, but the drivetrain and big ticket issues we ran into killed us. I'd much rather put seat covers on and replace a plastic trim piece every so often.

 

[Mister Ridge]

If I could find it, I'd buy the older one with less miles. That being said, age alone can cause problems even on a low mileage truck. If you go for the newer truck with higher mileage, I'd tell you to steer clear of a diesel unless you absolutely have zero choice in the matter. Gassers work fine and have less potential headaches.

Side note, budget around 20-30k I guess?

 

[MK20]

I just bought a 1997 diesel GMC 2500 with 97,000 miles for 5900 bucks. It needed a good bit of front end work done, but I still got a truck in really good condition for less than 10K

i would go with an older one and be willing to travel to a place with no rust problem. Less sensors to go wrong. If you go with a diesel, definitely don't go with something newer than 2008. With mine I will be able to have my mechanic delete all the EPA crap in a couple years because it will be 25 years old.

 

[GUN NUT in IA]

Work truck = Lease

Lease = Tax deduction? (I know the owned truck will to, but I think the maintenance costs on the lease will be less.)

 

[MK20]

leasing is the dumbest way to own a vehicle, period.

Watch the video for a breakdown of why.

 

[MK20]

also, you can depreciate the owned vehicle, so it is a tax deduction either way.

 

[rangerlong]

In my experience newer with higher mileage is better, and it’s alot easier on them to go from high use to low use than the opposite.

The lemons I’ve had were the low mileage cars that I tried to put into daily use. They just start falling apart.

The worst thing you can do for vehicles is leave them sitting, especially outside.

 

[MK20]

In my experience newer with higher mileage is better, and it’s alot easier on them to go from high use to low use than the opposite.

The lemons I’ve had were the low mileage cars that I tried to put into daily use. They just start falling apart.

The worst thing you can do for vehicles is leave them sitting, especially outside.

Definitely make sure it has been driven regularly or you will have this problem with an old low mileage truck. However, I bought a 1986 Chevy S10 with 30,000 original miles on it in 2016 and it has given me almost no problems. It was driven regularly, though.

 

[Praetorian_6]

Supply is screwed up, so unless you want a Ford diesel that will spend more time in the shop than the road (we've never had one that was reliable, spent huge amounts of money on "the most reliable" while the Chevy's keep going with minimal maintenance). I will say the Ford interior lasts, but the drivetrain and big ticket issues we ran into killed us. I'd much rather put seat covers on and replace a plastic trim piece every so often.

They say YMMV. My '00 F250 with the 7.3 has been a dream for the $6,500. I've replaced a grand total of a glow plug relay and a set of tires in 40k miles. Bought it with 151k on the clock.

If you refer to non-bullet proofed 6.0s and 6.4s, then that's not surprising.

 

[HiDesertELR]

They say YMMV. My '00 F250 with the 7.3 has been a dream for the $6,500. I've replaced a grand total of a glow plug relay and a set of tires in 40k miles. Bought it with 151k on the clock.

If you refer to non-bullet proofed 6.0s and 6.4s, then that's not surprising.

Ditto my 2001 F350 7.3...

 

[BufordTJustice]

Lower mileage used, diesel pre DEF, for me. NOT deleted. Because...democrats will make it harder to reg. Eventually. Lower mileage gas if so inclined. The less emissions the better but may be harder to pass emissions test. Maintenance Maintenance Maintenance... Is crucial. If used, I look for "grandpa" trucks. New trucks are crazy expensive and harder, more expensive to work on.Yes...before someone chimes in about used being "money pits", no warranty, etc. the possibility exists. And warranties are only as good as the people who stand behind them. My take...gas engines 150-200k serviceable lifetime. Yes, there are exceptions... Diesels, 250-400k without major engine issues, Yes, I've run them long past 400k. Generalizing here... Year,engine maintenance all play a role. And finally used diesel trucks prices are crazy, especially on Cummins 12 & 24V, OBS Fords etc...

 

[VVhoisJohnGalt]

leasing is the dumbest way to own a vehicle, period.

Watch the video for a breakdown of why.

this is typical Ramsey generalizations. He doesn’t go into residual value to money factor ratios. Important parts of a lease haha! He typically makes wild de facto conclusions that work 80% of the time because he pitches his system to the financially lazy people with low patience that want EASY.

Most of the time leasing is bad...that is true...

BUT if you can lease a vehicle with lower residual and a money factor of .0001. AND negotiate a good purchase price...then you have options.
At the end of the lease you are then able to walk away or sell back the lease buyback if current market prices are north of the residual. Taking advantage of equity without the risk of owning...it’s an option contract.

a lot of leases pump up residual value and have large money factors...ie cost of capital. You don’t have a very good shot at equity at the end of those leases.

Also paying cash for a vehicle is NOT the best way to purchase a new car. You lose ROI while you are saving the money at .25%. Then you lose money by liquidation of your cash reserves that could have been better used through leverage.

Disclaimer: I’ve never bought or leased a new vehicle. Never will. Depreciation is bad. Always purchase 10yr 150k vehicles with cash on hand. Maintenance isn’t bad and I’m not trying to impress anyone.

To the OP...I would lean you towards the high mileage newer truck...lots of times you will find company trucks for sales reps. Those trucks are typically maintained really well...he just drops it for scheduled maintenance whenever it’s called for because it’s on the company dime. Talk to a dealership let them know what you are looking for...they would have all the records and have the truck sold to you when the guy trades...most likely every 3yrs. They will know these people because they sell a truck every 3yrs to them and see them monthly in the service department. Good luck!

 

[mi223]

Be prepared to have to put money into either truck in big amounts constantly.

transmissions, rear ends, ball joints, turbos, radiators, water pumps, wheel bearings, etc you all expect to start needing to be replaced in a truck with mileage like that.

what is your budget for this truck?

Honestly trying to figure out budget at this point. You can't get much for under 30k. So probably start there

 

[TxWelder35]

Honestly trying to figure out budget at this point. You can't get much for under 30k. So probably start there

Brand new ram 2500 with a hemi is 37-38k before TTL

 

[79steeler]

If your starting a new business do you have a CPA? If you buy new you should be able to depreciate it's value on your taxes over the next 3 years. Also with a new truck you will have a warranty should any problems arise. I would definately get it undercoated and any rust prevention done up in Michigan. I really like deisel for longevity. Are you towing, hauling, what exactly will you be using the truck for? I would also consider looking out of state for your truck. Look in states that don't have rust problems. Rusted bolts and parts all over a truck can cause nightmares when it comes time for maintenance. It's cheaper to ship a truck from a dry state like Arizona, Nevada, ect........

 

[Codiekfx400]

Buy a new truck or find a place that does crazy lease deals. If your driving 20k plus or pulling something the diesel would be worth it.

 

[E. Bryant]

10 years ago, I bought a three-year-old F250 with the 6.4 and 170k on the odometer for $13k on eBay. Still have the truck, and it has another 100k on it with minimum cost beyond expected maintenance (fluids and filters, tires, brakes, and front-end parts at 215k). I feel like it was a decent bargain.

Would expect that from every used vehicle? Hell no, but sometimes one gets lucky.

 

[chevy_man]

If your starting a new business do you have a CPA? If you buy new you should be able to depreciate it's value on your taxes over the next 3 years. Also with a new truck you will have a warranty should any problems arise. I would definately get it undercoated and any rust prevention done up in Michigan. I really like deisel for longevity. Are you towing, hauling, what exactly will you be using the truck for? I would also consider looking out of state for your truck. Look in states that don't have rust problems. Rusted bolts and parts all over a truck can cause nightmares when it comes time for maintenance. It's cheaper to ship a truck from a dry state like Arizona, Nevada, ect........

Gas motor will outlast the truck in Michigan. Only reason for a diesel is towing heavy.

Every time you run the numbers the diesel is more expensive. They don't get 20mpg, they cost much more to service, and they cost much more to buy. Gas is always cheaper.

There are several ways to write off vehicles. CPA can tell you what's going to work for you. Really depends on how long you're keeping them.

 

[Praetorian_6]

Gas motor will outlast the truck in Michigan. Only reason for a diesel is towing heavy.

Every time you run the numbers the diesel is more expensive. They don't get 20mpg, they cost much more to service, and they cost much more to buy. Gas is always cheaper.

There are several ways to write off vehicles. CPA can tell you what's going to work for you. Really depends on how long you're keeping them.

I'm not picking on you, man. I guess you say interesting stuff. I was thinking the same thing about Michigan and gas motors lasting as long as the trucks are likely to. It's also gonna be easier to start in very cold weather. I discovered that somewhere around 10*F, my truck needs the block heater.

On the diesel side, that's probably true for most. Mine has gotten 23 mpg while driving like a grandpa, but it's a 2wd with manual trans. Has done 12 mpg, IIRC, towing 19k lbs gross. It normally pulls 20-21 mpg, but I almost never drive over 70. The old diesels without emissions systems and DEF requirements are where the value in diesels is, but it also requires you to run the risk of getting a mistreated one. I've told others that when I move on from the 7.3 PSD, I'll end up with another lower mileage one or with a newer 6.8L, 6.2L, or similar gas truck. Those seem to be going upwards of 400k miles when treated right. They do use a lot more fuel for the same loads, though.

 

[Mister Ridge]

I wonder what rising gas prices will do to the 3/4 and 1 ton truck market? I wasn't paying attention to these trucks last time.

 

[chevy_man]

I'm not picking on you, man. I guess you say interesting stuff. I was thinking the same thing about Michigan and gas motors lasting as long as the trucks are likely to. It's also gonna be easier to start in very cold weather. I discovered that somewhere around 10*F, my truck needs the block heater.

On the diesel side, that's probably true for most. Mine has gotten 23 mpg while driving like a grandpa, but it's a 2wd with manual trans. Has done 12 mpg, IIRC, towing 19k lbs gross. It normally pulls 20-21 mpg, but I almost never drive over 70. The old diesels without emissions systems and DEF requirements are where the value in diesels is, but it also requires you to run the risk of getting a mistreated one. I've told others that when I move on from the 7.3 PSD, I'll end up with another lower mileage one or with a newer 6.8L, 6.2L, or similar gas truck. Those seem to be going upwards of 400k miles when treated right. They do use a lot more fuel for the same loads, though.

No offense taken, just thought I'd throw out the counterpoint. Drivetrain longevity isn't worth much when you can put your first through a cab corner in 5 years.

My experience thus far:
07 lbz, 450k miles. Truck was shot but still on factory injectors and fuel pump. Most of the electronics were dead because work truck. Display said 16-22mpg, hand calculated it was more like 12-15mpg.

18 Duramax gets 15mpg mixed, 10mpg towing 15k, and it weighs about 10k "empty" (service box on a crew cab long box). Add DEF every 5k. Display is within 3% of hand numbers.
The 2020 6.6 gasser is doing 12mpg at the same job, saved $15k on initial purchase, and about $100 every oil change. Tows surprisingly well.

Finding a 7.3 or lb7 that actually could knock down 20mpg regularly just isn't realistic.

I've been looking across the entire western US for the last 8 months for used trucks. It's a rough market right now.

 

[E. Bryant]

I wonder what rising gas prices will do to the 3/4 and 1 ton truck market? I wasn't paying attention to these trucks last time.

Fuel prices don't impact truck demand much. Historically, housing starts are the macroeconomic trend that correlates most closely to demand for HD light trucks.

 

[S197]

I am starting to look around for a work truck for my new business. It will be a 3/4 or 1 ton srw. Not sure on gas or diesel yet.

Anyway curious what you guys opinion is.

Would you rather buy a newer truck let's say 2015 or newer with 140k-200k miles

or would you look for something a little older with let's say under 100k miles.

i am in Michigan so rust is always a concern with older vehicles.

i would guess I will put on 10k-20k a year. I would like to buy new or lightly used but that isn't in the cards now. The cost of new and used trucks is crazy right now so trying to stretch my dollars as far as I can.

thanks guys.

newer production gas would be better so you dont have to mess with DEF related repairs / maintenance. If you go diesel do your best to avoid DEF engines.

 

[Hobo Hilton]

Ford Trucks... 7.3 Power Stroke diesels.... Here is my opinion.

The cut off point on a Ford PSD is 200k miles..... Regardless of what year the truck is.. All of you guys running a PSD with 400k miles, go ahead and take your best shot at me... The reason you can run 400k miles is because you meticulously MAINTAIN your truck. My hat is off to you.

The PSD's that run crappy fuel, don't change the filters at the recommended intervals, don't plug in the block heater when temps are below freezing, don't service the glow plugs and GLP relays, don't put water conditioner in the radiator, fail to run fuel and oil additives, pull those big old heavy gooseneck trailers above the speed limit and run those "tuner chips"... Well, that's the one's listed for sale, as we speak with 195k miles on them. A run out PSD can easily cost a new / used owner $10,000 during the first trip back to a Ford dealership.......

There are a lot of "Band-aids that can be put on a PSD with 200k miles... Shim the old injectors, put on new filters, run some injector clearer, etc... Beware of those with no service records....

I have Ford trucks, both gas and diesel. I make my best effort to maintain them.

Hobo

 

[SouthFork]

My work truck is a 2018 Ram 2500 4 Door Long Bed with the 6.4L Hemi. I sub out my excavation so I am not hauling equipment. I have a rack on there to move lumber. I pull a work trailer but its a 7x14' dual axel and its not super heavy. I got it for around 35k brand new. It was in 2019 and 2018s were still on the lot that they were trying to move. Its been good to me so far. It gets like 13MPG which sucks, but all of my jobs are 20 minutes from my house or less so I don't care. Hauls everything I need an was a heck of a lot cheaper then a diesel.