It's disconcerting to think of my tow vehicle as "old" today, especially when I purchased it "new." To mind, it is still just as "new" to me. I think Ben articulated this well with his 1996, which is still "new" to him.
It is hard not to take note of the new transmissions nowadays with more gears to deliver power with better fuel economy. With 4 speeds now considered "old", 5 speeds on the wane, 6 speeds now in common, 8 speeds being introduced into production, and 10 speeds on the drawing board, I can think back to when it used to be all truck automatics were 3 speeds... the Ford C6, the GM Hydramatic 400, the Dodge Powerglide. In fact, I still remember 2 speed car automatics.
So with very functional improvements like that, it's tempting to go new. If I were to replace my "old" (but still new to me) truck, I'd have two more gears in the automatic, cleaner emissions, quieter noise levels, an infinitely better turning radius, integrated trailer brake control, rear window defogger, power extending tow mirrors, a lot more horsepower and torque, more fuel carrying capacity, stronger frame, built in navigation, heated and cooled seats, the list goes on and on.
But so does the price. And so does the umbilical cord to more expensive and sophisticated dealership only repairs.
One advantage that the internet brings with older vehicles is an ever growing and freely distributed knowledge base on how to fix them. Pictures and videos from similarly situated users help demystify the diagnosis and solutions to repair problems with older vehicles in a way that is not yet available with newer vehicles that increasingly rely on software that is proprietary to the manufacturer and only available at authorized dealers.
I hadn't quite realized how useful the home brewed distribution of knowledge is about older vehicles until a friend purchased an 10 year old Excursion, and knowing very little about car repair, was able to successfully rebuild and repair everything on the vehicle from online videos, pictures, and message boards. He saved thousands of dollars of dealership labor charges, which no longer like to quote their hourly rate, preferring instead to charge "by the job". I've computed the local dealer shop time rate to be just under $200.00 per hour, based on labor time codes for established procedures.
It all adds up. Then there is the insurance on the new tow vehicle, which will require full comprehensive if financed, and is probably advisable for a brand new vehicle even if not financed. Then there is the sales tax and annual registration based on vehicle value determined by the purchase price, depending on state where domiciled. It all adds up.
Depreciation is another depressing fact of life that comes with all the tempting new improvements to transmissions, power, and convenience. Being able to only fetch 1/5 the price initially paid 5 years later, even with less than 60,000 miles on the clock, is a sobering reality that is often forgotten by me when I'm drooling over the incremental engineering improvements of today's models.
So thankfully, threads like this remind me to keep what I've got for as long as possible. As newer and newer tow vehicles pass me by like mysteriously quiet and powerful UROs (unidentified rolling objects), it remains encouraging to find so many others on this thread who are disciplined and savvy enough to "live within their means" and make do with the devil they've got.
