New Diesel vs. Older Models

4x4ord wrote:
Buying new and keeping for 5 years you might expect about 5k/year depreciation and hopefully no repair costs. Buying 5 years old and keeping for 5 years you could expect $3k/year depreciation and maybe $1k to $2k per year for repair costs. Then I guess you could buy a 10 year old truck and keep it for 5 years and expect it to depreciate about $2k per year and spend 1 or $2k per year on repairs. Or you can buy new and keep it for 10 years expecting your cost of ownership to be somewhere in the middle.In the end the cost difference per year isn't going to be huge no matter what you do.

I like your analogy. I always cringe at the cost of new trucks. However if you buy new and plan to keep it 10 years plus. In the end you will get the full life of the vehicle and achieve maximum value.
I typically by 3 year old or so vehicles and keep them to the wheels fall off.
I have been re thinking my strategy recently that buying new maybe a better overall value.
New prices are very step, so the next consideration was to buy a 1 year old vehicle and avoid the initial depreciation hit. Buying used is always a compromise vs. buying new and getting the vehicle equipped exactly the way you want it.

Buying new and keeping for 5 years you might expect about 5k/year depreciation and hopefully no repair costs. Buying 5 years old and keeping for 5 years you could expect $3k/year depreciation and maybe $1k to $2k per year for repair costs. Then I guess you could buy a 10 year old truck and keep it for 5 years and expect it to depreciate about $2k per year and spend 1 or $2k per year on repairs. Or you can buy new and keep it for 10 years expecting your cost of ownership to be somewhere in the middle.In the end the cost difference per year isn't going to be huge no matter what you do.

1) To save 40k plus on the purchase price
2) To be able to work on one easily
3) To avoid emissions
4) To not owe payments
5) To know what issues are likely to come up and how to fix them BEFORE the purchase
6) Budget... not ... very...high... :(
7) EGO? Statements are typically started off by "I will never.... " or "I Won't..."
8) Personal preference.... Example.. my favorite body style truck.. ever.. is the 1970's dentside Ford F series....Really beautiful lines... owned a lot of them.. Probably will own more. Are they more reliable than the new stuff? Nope... easier to work on? YES... Safer? Nope... as capable as new? NOPE..

thanks!

Jeremiah

...

I bought new, and drove my last two trucks for 20 years each.
I'm not likely to live long enough to do it again.
So partly for this reason, this time I bought used.

Also, I and my older truck have earned this antique coating, which I have learned to appreciate.
So that is the other reason why I bought used... for the patina.

Wes
...

jus2shy wrote:
Well, some feel that they can improve the older diesels to perform similar to the newer diesels. They also feel that they don't want to have to deal with the newer emissions system, especially if they are out of warranty. The older diesel aftermarket is also really mature and repair parts can be bought relatively cheaply should something break. Also, since they don't have all the emissions, they tend to get better fuel economy than the 2007 to 2010 emission vehicles. But the 2011 and up vehicles were back to matching fuel economy with the roll-out of DEF (Diesel Exhaust Fluid). Also, the older diesels were more tolerant of impurities in fuel. Heck, some people would just pour their used motor or transmission oil through a coffee filter into the tank and run it through the motor (I personally don't think you should do this, something about the potential of metal shavings really doesn't sit well with me).

Newer diesels make more power and run much cleaner than the older vehicles. But along with all that power and cleanliness, is the complexity of the emissions system. Some don't feel like messing around with the new components and some are mortified at the prospect of pricey repairs should things break (New Ford 6.7 is roughly 13k). But that's what I feel a warranty is for and by the time these vehicles are older, there should be a mature aftermarket for them making repairs somewhat cheaper.

I think that sums the generalities of why some prefer older over newer and some contrast with a newer vehicle.

X2
Besides that I'm just cheap and why replace something that works perfectly fine. Of course I'm just like everyone else in wanting something new and in my dreams a new Ram sounds great. But in reality just buying something new because you want one is not a wise monetarily decision. I know our company don't run that way cause if it did we would be broke.
My vehicles usually last 10-20 years depending on my homework before purchase. Yes I've picked a few dogs along the way :B

I research everything to exhaustion! I had a lot of diesel experience but not with these little ones. My first diesel P/U was a 97 CTD 5spd and I bought it for all the reasons that made that particular truck so highly regarded and simple. Same song, second verse when I got my 03. I never leave them stock and I also research the mods I do, to exhaustion, so they are safe and reliable. You still need to choose enough truck (weight caps) regardless. I'm still fine but this 5er maxxes it. I was also fairly strapped when I got my 03 but I always try to save some bucks and it was the perfect candidate for what I had planned... everything in my signature. The newer ones still don't trip my trigger, at all, but that doesn't work for everybody! Craig

I can only speak for myself but after having three diesels I think I have an idea of what's best for me. Bought a 2006 Dodge quad cab 4x4 3/4 ton stock diesel loaded with low miles, cheap. Make sure the front end is tight. The older 5.9 is easier to work on an has less******installed and gets better mileage. Make sure the engine has good compression and the body has little or no rust. Updated the transmission to a heavy duty towing trans. What a difference. Found a used 65 hp Quadzilla towing chip. Put Bilsteins all around. Michelins underneath.
I now have a great towing machine. If I was to pull a larger 5th Wheel I would get a dually one ton but not necessary with my weight load. I can install a exhaust brake if I wish but not needed yet. A lot cheaper than a new one and runs a lot cheaper.

What has worked for me :
I have a 2002 duramax allison extracab short box that i purchased new .
it is the first pickup i have owned for over 5 years .
my first new car was a 1972 C20 suburban with the 402 big block.
after that i bought a new burb/blazer/ pickup with the biggest engine every 5 years .
until i bought this duramax .
it only has 520 foot pounds of torque .
it replaced a 1997 chevy with the 454 that had 410 foot pounds of torque .
i spent aftermarket money on each pickup including this one for :
SnugTop Canopy , aftermarket stereo system , Weld polished aluminum wheels , Michelin LT 265/75R16 load range E tires , running boards , brake controller , AGM batteries , and some minor mods .
Each time I sold I lost the money that i spent on the aftermarket stuff .
All of my trucks and cars have spent their life in a garage .
I have a sportscar and a german autobahn sedan .
I already tow my travel trailer faster than the speed limit .
If I had 765 foot pounds of torque I would use it .
I know myself .
These diesel / allison gmc's seem to be going 300,000 miles before major repair .
I have not had an issue with the injectors or anything else with the drivetrain.
I make the argument that the best pickup / camper is the one that I bought new and maintained as if i was going to keep it the rest of my life .
I know where it has been and who it has been with .

jus2shy makes some good points.

BK

The only advantage of used is the price. The problems with buying used vary from none to bank-breaking. Be aware, be careful. I wouldn't buy a used diesel that has been tinkered with. Too many butcher mechanics without a clue as to what they are doing. Good luck.