rate of inflation plus new gadgets like cameras, power mirrors and everything, plus govt safety like airbags. Take them all into consideration, to buy a basic truck like 40 years ago the new one is $ less and will last longer, resale much better.
My '07 classic chevy LT trim ext. cab 8' bed lbz diesel listed $53k in '07' bought $38k cash. Still resales privately for near 20k with 180000 mi.
Thats less than $ 1500/ yr depriciation adjusted for inflation. Am not planning to sell it, but the new bug is biting.
I do have a different philosophy and approach to finance and vehicles. In business, my accountant advises when to sell, replace.
Resisting the bug for new comes down to need, or reliability. Needs change, reliability is relative. Where once upon a time a truck with as low as 80k was done ( circa 1960s) , we now can depend on 250 - 400k mi. even more with dependability. Shouldnt that be that a factor in your decision to keep, trade or sell?
My truck has not been without off warranty issues, An idler pulley, a couple of glow plugs, thermostats, blown tranny oil line. I pulled the wrenches at home.
In 13 years its been to Chevy once, 2 years ago to update the computer when it repeatedly showed a code for excessive EGR (402) It was a fault in the after turbo exhaust temp sensor. $32 part I changed it.
Searching for a new truck equal locally or better shows price icash price $62-66 k After negotiation, that should be around $ 50-52 k Never have I paid or will pay ' documentation fee, extended warantee, or any other dealer add on. Do that on your own or with aftermarket suppliers.
State your price, stand by it. Walk Run if you have to.
