So I am looking to get rid of my dd (2001 F150) for a newer truck. I have been looking at a ton of trucks and was wondering what everyone thinks of this:

Is it better to buy an older vehicle with less miles per year or a newer vehicle with more miles per year? For example, let's say you were looking at 2 trucks. One is a 2004 with 60,000 miles and the other is a 2007 with 86,000 miles. Let's assume the trucks are in the same condition and have same options and are priced around the same.

Thanks,
Wayne

 

In my opinion, within reason, and assuming both vehicles were properly maintained, not driven hard, etc., there's no substitute for low mileage. Most wear to a vehicle comes from it being driven, not from sitting. A car with no miles at all might have problems from not being driven enough in terms of being properly broken in and all, but a 7-year old, 60,000 mile vehicle isn't going to suffer from that. What it does have, though, on average, is 26,000 miles more of life left in it than the 86,000 mile one.

 

For me, I guess it would depend on what kind of truck you're talking about. For example, if the 04 was an F150 and the 07 was a Tundra, I'd probably take the Tundra. Buying a vehicle is really a personal choice. Check out the ratings (reliability/owner satisfaction) for the vehicles you are comparing and also check to see if they have had recalls. Are they one owner trucks? Do they get the crap driven out of them when they're used? A good detail shop can make even a dog look like a winner.

 

I sell cars for a living, my one observation in the last 8 years is every manufacturer builds a good product. So that is not an issue. If your financing I would buy the newest model year with the least amount of miles, and the most equipment within my budget. NADA adjusted trade value based on year,make, model, miles, and equipment is what all the Lenders go off of. Certified preowned in reputable franchised dealerships are a perk! Carfax is your friend 99% of the time. In todays market in Texas values are up, so the closer you get to a purchase price near the NADA adjusted trade value the better off you are.

 

My .02

Older truck = lower priced.
Lower mileage = less wear and tear.

Win/Win scenario

I don't see why you'd buy a 1 year newer truck with higher mileage.
Just doesn't make any sense at all. Lose / Lose. Depreciation is absolutely
ridiculous on vehicles. Take advantage of it and go with the oldest one
with the lowest mileage is my philosophy.

I got a $36,000 Lexus that was 11 years old for $7,500 with only 67K on it.
I liked it so much I bought myself a 10 year old one for $9,000 with 55K on it.
Depreciation is your friend when you don't have to have the
newest bling bling on the block.

 

Older with less mileage, just bought myself a dd to replace the old buick and that is what I did.

 

If everything is equal with condition, etc, I would take the one with less miles.

 

IMHO

Part of the problem is You don't know who put the miles on the truck. Could be a careful owner. Could be day laborer.

Miles aren't the only consideration. Look and see if the truck looks cared for or just an tired abused work truck.

 

Another point to ponder, if they are both 'equal', I'd also look at the insurance rates and operating costs for both.

Newer truck may have better parts availability and technology/fuel economy too

 

The point I was making is the newer the truck, the easier to finance. The term can be longer which reduces the monthly payment. The rate is usually lower, again which reduces your payment. Anything older than an 05 is going to be tougher to finance, especially when you consider the additional miles on it. So again if your financing buy the newest truck, with the least amount of miles, that fits your budget. Try and purchase the truck as close to ADJUSTED NADA CLEAN TRADE value as possible, and you will be ok!

 

Don't forget about corrosion. An older lower mile vehicle can still suffer from rust. For many vehicles in the rust belt rust is the killer.

 

Thanks Guys. I would love to buy an `07 or newer F150. I would love to spend under $15,000 (cdn) which means most trucks have over 130,000 kms (80,000miles). Anything around 65,000 miles is selling for over $20,000 and I just don't want to spend that much. Although I have found some `04 with under 50,000km for $11-13,000. That is what really prompted the question. The `04's are in amazing shape just 3 years older.

Older trucks in Canada are prone to rust. I know my `01 has really started to rot badly.

Cheers,
Wayne

 

Anything OVER 7 years old is harder to finance , Yes, that's true.
But it's not impossible to finance.

1-7 years = Tier 1 lending IIRC. Less default rate so easier financing.
Anything OVER 7 years old = higher default rate so harder financing.
Higher default rate because if your car takes a sh**, they know most
people won't continue paying the payments on it.

If you call many credit unions they will finance older vehicles up to 10 years with
LOW Miles IIRC with a decent down payment if you have a good credit score.
Reason I say to explore credit unions is because they typically have the lowest
APR rates.

Now why is this even MORE beneficial to a buyer??
Because my friend, dealerships KNOW anything over the 7 year / 70,000 mile
mark is VERY hard to finance for a customer regardless of credit history.
So they tend to be a hell of alot more flexible on the haggling customer with
cash in hand, or bringing in your own Credit Union financing.

So the key here is to bring your own financing to the table and don't tell them
UNTIL they give you a written invoice with the final price. Why?? Because a
2nd way for a dealer to make their commission is points on your APR rate.
You tell them you have financing already, they're not as likely to drop the price as low
because you've just taken their backup commission method out of the picture.

If all else fails, there is a HELOC or 401K loan option. The benefit of a HELOC is you
get the tax write off on the interest. Another win for the buyer, and Lose for the banks

 

OH .....btw , I've been told by a few Ford certified ASE mechanics on other forums that the Triton 5.4L is a huge POS.

So are the 6.0L and 6.4L powerstroke diesels from Navistar and that's why Ford is now making their own 6.7L this year.

 

I keep my 07 Grand Marquis parked throughout the winter. I almost sold the 2000 but kept it as my general purpose driver. I discovered rust through behind the trunk floor pan and other areas are beginning to go on the 2000. It kills me because it only has 85,000 miles, a mint interior and the dark green metalic paint is still beautiful.

 

Good point about the financing. I will be handling that myself. Unfortunately it might have to come from my "Oldsmobile" fund

My truck has the 4.2L and it has been the most trouble free motor I have ever owned. Everyone I know that has the 4.6L says it is a great motor as well. I have heard nothing but issues about the 5.4L. Staying away from that!!

Thanks,
Wayne

 

The 4.6's are great motors, except for some spark plug blow out issues, at some point the number of threads were increased. I think around 2005.

 

A friend just blew his 5.4 Ford, and asked me to find a motor.
Anywhere from $1200 to $1500 used is ridiculous for a grenade without a pin!!
I'd stay away from Ford, totally!

 

I've owned a series of white Cheby 3/4 tons forever and found them very reliable.

My current one is a Silverado 4 X 4 with a 350 and all the bells and whistles of a Caddy.

 

Again I reiterate, all the automakers make a good product! I sell every make out there, a few hundred/ yr. You can poll 100 different people and get 100 different answers. Opinions are like a_ _ holes everybody has one! The 5.4 liter ford is a good motor. The folks that say the 6.0 and 6.4 are bad are still hung up on the 7.3, which btw no-one liked when it first came out. Vehicles are designed to operate within guidelines, when those guidelines are exceded or modified, stuff happens.

So buy what you like and can afford, because if you buy for the wrong reasons, price, peerpressure, etc, you will regret it and trade within 18 mos and lose your butt!!!!!!!!!

 

The facts are here for anyone to read. http://blogs.insideline.com/straight...esel-woes.html

2005- Early Power Strokes were plagued with problems. Even now, it appears Ford may still have problems with new trucks being
delivered with this engine. The problems are so extensive that it has cost Ford dearly in terms of warranty repairs...
In fact Ford has now cut back honoring some of the claims,

Since 1979 Navistar (aka International) has developed Ford's Diesel engines, but as of 2010, they were fired.
Ford just introduced it's very own 6.7L Powerstroke diesel this year.

The reason the 6.0L and 6.4L have a bad reputation is because they had so many warranty recalls that Ford
started screwing over loyal Ford customers by not honoring the warranty repairs. That's how bad it got.
I only know this because I was shopping for a 2003-2004 F250 Ford SuperDuty and found out about it.

6.0L fail http://www.autoblog.com/2005/12/16/f...ajor-problems/
6.4L fail http://www.autoblog.com/2007/05/02/n...llion-lawsuit/

Ford sued Navistar aka International over these motors because of the high failure rate. In fall 2002
they started selling the 6.0L PS diesel and it gave Ford massive headaches ever since. Then the 6.4L came out
VERY shortly after IIRC 3 years to remedy the issues but still failed. That is why everyone went back to the 7.3L
because it was the last reliable diesel that Navistar made for Ford.

Not to mention if anyone that owns a 6.4L Powerchoke they know you can't even work on the engine without taking
the ENTIRE front end off to get to anything. Talk about serious labor charges.......

 

When GM brought out their new Duramax/ Isusu motor in 2003-04 they were plagued with head problems, recalls, recalls, and more recalls. When Dodge revamped the Cummins, recalls, recalls, recalls.

Look I don't care which product you look at, the first year or two are going to have problems! I don't know how the rest of the world operates, however this dealership stood by all its products and customers!

The only way anyone can get any real power out of a 7.3 was to modify it. Depending on year you could crank up the pump and change the injectors, or put a chip in it and change the injectors. The drawback for that series of trucks was the 4 speed auto trans.

Yes, even with the inherent issues that plagued the 6.0, it still was a far superior set up with the 5 speed auto. Look this is Texas, the proving grounds for all pickups. I sell used trucks and have people tell me good and bad of everything. I also see all of the big 3 come in here used and abused past the 500,000 mile mark. They all do well!!!

 

If you're still considering and older vehicle, try looking on Craigslist in the southwest. Lot's of clean used cars out here with no rust whatsoever. Whatever money you save can pay for the drive back and a nice vacation.

 

Wayne, you might be a Ford guy since you like the F-150 and I never priced the Fords. However, I did buy a new GMC Sierra in 2008. It had quite a few options, 4.8L v8, A/C, cruise, trailer package, chrome package, limited slip, power locks etc. My total price with tax was $17,000. I just couldn't see buying used when I could get new at that price. I tend to keep trucks until they are worn out or rusted out. My last GMC had the fenders flapping in the wind and a big hole in the floor after 17 years. The next few weeks might be a great time to buy new with gas prices getting to $4.00 ,maybe this week. I see ads all the time for the W/T packages for less than $15,000. If you're not pulling a trailer often, the v6 is fine. Just a thought.
Higgins

 

If that's the LLY Duramax, then yeah I heard those had issues as well.
Not anywhere near the level that Ford's did though.

I have heard that new 3.5L TT motor from Ford is pretty impressive though.
But there's no long term reliability reports to know how well it's going to do yet.

The main problem I've heard with Cummins is the truck built around it.
Their transmissions seem to have issues as well, that's why now I heard you can get
an Allison trans as an option.

GM seems to be the best option out there IMHO.
Dodge's really look a hell of alot nicer and so do Ford's.