2007 Chevy Silverado HD Duramax,Diesel Allison Transmission

[Jakessweetthing]

We have a 2007 Chevy Silverado HD Duramax Diesel with an Allison transmission, that now has 200,000 miles on it. 85% of those are over the road miles. We have had it serviced and taken excellent care of it. The interior is in great condition.
So Here is our question, My husband wants to trade for a new truck. But the price we are looking at is almost out of our fixed income budget. We could do it, but do we want to?
So the next question is the important one. How many more miles can we expect to get out of our truck if we keep it???
We live in Kansas and we are planning a trip to Arkansas, California, and Colorado this year. And maybe the same next year. The next five years we plan on traveling a lot, so do we keep it? Or trade and take on those huge payments? What would you do?

[austingta]

If you are planning to keep it for some years, as you seem to be, you do not incur depreciation losses, except on paper. You get to skip all that.

[DownTheAvenue]

Instead of buying new and having to suffer a great loss of initial depreciation, you really should consider buying used. There are many fine vehicles that come off a two or three year lease that are well maintained and have significant life left with a 40% discount from new. The advantage you have is you can watch the market closely until the right off lease or used vehicle is available.

Your existing vehicle, as already posted, is getting "long in the tooth" and you can expect to replace some items along the way. What can happen, however, is that you can face a failure that disables the vehicle and repair cost approaches the vehicle's value. Without the repair, the vehicle is worth its scrap value, and with the repair, you have invested a lot of money without any return. That is a difficult position to be in.

If I were in your position, I would buy the right used vehicle.

[donn0128]

At 200K miles stuff is going to start failing. Fuel pumps, water pumps, alternators, injectors are all approaching end of life cycle. They may go another 100K but they all could just as easily all fail tomorrow. Trans is likely getting close to rebuild. The basic motor could go another 100K miles before rebuild time. So its a toss up. Once things start failing, it will be a never ending cycle.
You might start shopping for a two year old low miles truck and see what it would cost you. Another considerstion, if it were to fail you on the road are, or would you be prepared to buy so you could get back on the road. Or would you be better off doing it now when you have some bargaining power?