How much does that new truck depreciate the first couple years compared to depreciation over the next 5 years? And then the next 7? And sales tax on a brand new $40,000 truck ain't chicken feed, around here that amounts to around $3000. Plus personal property taxes will be much higher on a new $40,000 truck.
These are all reasons I'm still driving my 2001 Dodge Cummins. Maintenance and repairs have cost me less than what I would pay in sales tax. Even with replacing the VP44 and a new clutch. And a big plus: it's paid for. I've not had a car/truck/motorcycle payment in over 25 years, and see no reason to have one now.
Granted a new truck would be sweet, and if they gave me one I'd keep it, but since that's unlikely...