How long do / should you keep a truck?

[McRabbet]

I have a 2008 Tundra as my tow vehicle and just went through the same issue as the OP -- it prevented me from making the Mayberry FROG Rally and indeed, it did cost $2200 for the repair (I had the starter motor replaced in February to the tune of $1000). The truck has 137,0000 miles on it and despite these costs, I plan to keep it as my primary TV -- it is not my daily driver, which is a '13 Toyota Camry Hybrid that gets 37 mpg.

[MCTroy]

Well, I will share a different opinion. I like new stuff.
I hate being inconvenienced by a break down. Never mind the expense, just the hassle of getting things fixed is enough for me to trade in and get something newer. I like those 2 year lease trade ins personally. I get an almost new vehicle and someone else takes the hit on the depreciation for the first 2 years. We aren't DIY anymore so a good warranty is important. And frankly, I like new toys and all the new bells and whistles!!

[007matman]

Originally Posted by MCTroy

Well, I will share a different opinion. I like new stuff.
I hate being inconvenienced by a break down. Never mind the expense, just the hassle of getting things fixed is enough for me to trade in and get something newer. I like those 2 year lease trade ins personally. I get an almost new vehicle and someone else takes the hit on the depreciation for the first 2 years. We aren't DIY anymore so a good warranty is important. And frankly, I like new toys and all the new bells and whistles!!

I get the new toy thing.. you're paying the depreciation whether to like it or not. Businesses are in it for the money. Not to take a loss.

[MT Biker]

Originally Posted by McRabbet

I have a 2008 Tundra as my tow vehicle and just went through the same issue as the OP -- it prevented me from making the Mayberry FROG Rally and indeed, it did cost $2200 for the repair (I had the starter motor replaced in February to the tune of $1000). The truck has 137,0000 miles on it and despite these costs, I plan to keep it as my primary TV -- it is not my daily driver, which is a '13 Toyota Camry Hybrid that gets 37 mpg.

Why wasn’t your repair covered under warranty?
Toyota has a 10 year 150k mile warranty on just the secondary air pump.

[MT Biker]

The biggest issue I am also having along with the added expense of the repairs is the long wait time on Toyota parts.
Every time this truck goes in for repairs it spends almost two weeks in shop, most of the time waiting on parts.
Seems Toyota really cuts back on parts availability at the ten year mark.

[007matman]

In today's internet connected instant gratification world spending more than a couple of days for parts would send me looking for a new supplier.

[aircommuter]

I am like Hersbird, just keep it going, a new truck in my state of crooked politicians costs big bucks for license , sales tax and higher insurance rates. The newer the truck the more it costs to fix. I have a home shop that I use for all my work. My 2004 Dodge has been very good, only normal wear items at 140,000 I plan on it outlasting me. I posted some pictures of my projects.
I would change vehicles if mine didn’t suit my use any longer, I would shop out a good used one and pay up front, I don’t like banks, they are for people who want something they can’t afford.

[old40ford]

My truck has about 96,000 on it and runs and drives like a new one. I do all the maintenance myself, keep everything in top shape as it goes. I don't spend much, but, I guess I am fortunate in that I can do most repairs myself and what I don't know how to do I can ask a couple of good friends for advice. I don't really have a plan, I usually just get tired of something and then get a new one or close to new. I also don't have any trouble selling my cars and trucks as people know me and are usually waiting for me to get a new vehicle.

You just got to do what makes you comfortable, if you can fix it, even a $2,000 repair bill is a lot cheaper than payments on a new one.

[Less is More]

There are 2 ways to evaluate this type of decision. The financial analyst would tell you to compare the monthly or annual depreciation of a new truck against the maintenance/ repair costs for your current truck during the same time period. Depreciation is not the same as monthly payments but monthly payments may be a reasonable approximation. And don't forget about increases in insurance.

The other way to look at it is to make a judgement of what non-financial benefits you get out of a new truck. Better safety equipment, newer technology, more comfort, less concerns about breaking down, impressing your friends and so on. These are very real considerations but are hard to quantify.

So my advice is buy a new truck if that's what you want but do not buy one on financial grounds unless your annual repair costs exceed the cost of owning a new truck.

[banda]

Originally Posted by MT Biker

Independent garage, they have done all the service work on my vehicles for years.
We won’t know for certain on the price until next week but from everything I have read on the Toyota forums dealers are in the $3-4K price range (depending on motor) and independent garages run $1600 - $2k.

I had to have that done also. Took it to an independent garage and they wanted $3400. I found out about the extended warranty for that issue via the internet so took it to the dealer where they repaired it for free, but they said it was a $2800 job.

[rlocicero]

I keep my truck about four years or 50,000 miles and trade it in. Ford pick ups have a such a great resale value that the dealer gives me a great traded for it. I wait until the rebates are at their maximum and also buy them for four employee price. I can usually get somewhere around 10 or $11,000 off sticker and anywhere from $26-$28,000 trade-in on my older truck. I take the rest out of the bank and pay cash for it but who cares I’m spending the kids money. I only have about 10 years left. I’m enjoying myself. The upside to this, outside of oil changes and tires I haven’t spent a dime in since 1994 For any repairs.

[Tundra 2014]

I had a 03' Tundra SR5 that I put a 135K on, loved the truck. Best truck I have ever owned, 0 repairs other than oil changes, Only got rid of it as we needed more truck. Have a 2014 Tundra 1794 now, even better. Getting only 1 MPG lower, only down side, not as much fun to drive. Plenty of power, just finished a 2800 mi. trip pulling 7300 lb. Flagstaff VS275 V-Lite. I would suggest the 6.5' bed version as my cargo limit gets cut down to 1285 LB. w/ 5.5' bed and options. Also 5.5' bed does not work w/ my 14' kayaks. LOL

[onetonford]

Had a 1977 Ford F150 had it for 22 years and it had 265000 miles on it only put a water pump on it the whole time I owned it. Than bought a small ford 1997 ranger and still have it with 201000 on it no problems. I sold the 77 and the guy that has it said it is still going.

[Maxwell D Pratt]

Have 2004 Silverado K2500 Crew Cab . Will keep it for a while. Spent little on it other than normal maintance. Tires & oil changes. Mileage is today 99927. Not bad for a 14 year old truck . Pulled a 5700 lb 85 Yellowstone. Now pulls a Rockwood Pop up.

[aircommuter]

There may also be a need to consider the higher cost of license fees for several years. In some stares new truck fees are over 1000.00 annually.

[pd2436]

HAd an 05 GMC 1500 Sierra with 99000. Had to sell because it was not enough truck to pull our 2618 vs. So we bought a used 2015 Chevy 2500hd which now has 62000 on odometer. Plan to keep it until i retire in 3.5 years. I will buy another used truck with low miles and keep it til 8 drop.

[bareftn]

Originally Posted by 007matman

Toyotas are well known for longevity. A $2000 repair is a drop in the bucket compared to what you'd loose driving off the lot.

You know what you have there.. you know it's been well maintained and it's likely paid off. I'd drop 2k in there and forget about it. The dealer is going to rob you on a trade.

I'm a firm believer in Dave Ramsey's advice in that the cheapest vehicle you'll ever own is the one that's paid off. Take that 2k repair and ammorize it over the time you've owned it (after it was paid off) seems pretty insignificant now doesn't it?

Just my two cents worth...

X2My last semi I drove had over 2 million miles it was paid for but when you broke down the repair's and miles between it was still cheaper then a payment

[jd50i]

I keep a vehicle for 15-20 years unless it starts giving me a lot of trouble then I dump it early. I always buy new since the couple of used cars I bought didn't last long.
I traded a 1998 Ranger and 2001 Sequoia in on my 2016 F150, both had 200,000 miles on them, the ranger a little more.

[mnoland30]

Some trucks are just lemons. I sell those early. My previous F-250 worked great for 15 years. The only reason I sold it was to get a crew cab to haul my grandkids, and a diesel to haul my trailer. I tend to sell vehicles when I can't trust them anymore. When I'm afraid to go cross country in them, I know it is time to sell. I've got a 2005 Jeep Liberty diesel that is the best vehicle I've ever owned. I'lll drive it as long as I can.

I read a book years ago about how to keep your car forever. It has to do with preventative maintenance. With the internet, you can find out what the issues are with your vehicle and replace those parts before they go bad. Even paying a mechanic, you'll save money in the long run.

[pdqparalegal1]

When to get rid of it?? In my other life, I would keep/repair as long as I could get parts. Fast foward to today, 70 years old, tired of working on vehicles. Afraid of being stranded somewhere with tke TT beside the road. That would make repair, trade costlier. I had a 2010 Ford F-150, purchased used to pull TT. Got to the point I was afraid of the engine and trans. Both were msking death rattles. Traded for a new 2016 F-150 with better towing stats and an extended warrenty. Truck should outlive me. First NEW vehicle I have had in 30 years. Peace of mind is now worth depreciation. Also good road side plan.
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