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Keep my 2006 2500HD or buy new???


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I'm really stuck here. I love my truck, did a lot of mods to it to get it where I like it. I never liked the 2012 new models, but the 2014 are lookin pretty snazzy. My truck just broke 90K. I am at a debate weather to get rid of it before it hits 100K (due to value reasons), or just hang on to it for a while longer.

 

Its driving good, no issues. I plow with it, pull a trailer full of tools for work, and drive around doing estimates all day sometimes. With the torsion lift in it, its tough ride to be in all day.

 

I have had a couple lights come on...P0300, and P0420 recently. Cleared them, no issues so far. Front end components will need attention soon, few other minor things but all in all still solid.

 

I do need new steps, and tires soon too. Engine runs perfect.

 

Also, this truck is financed, so I already have a truck payment. It probably will be more/mo but I dont want the value to drop so I cant get enough for it.

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For me, when I'm in a situation like this I get a blank piece of paper and a calculator and do the simple math.

 

On one column, add up what you realistically think it's going to cost you to keep the truck over the next X years. Then in the other column, add up all the costs of the new truck (down payment, increased insurance, cost of mods to get it where you want it, new monthly payments, etc...)

 

Tally up both columns and then it becomes a simple math problem. Look at the total at the bottom of each column and see which looks better to you. If it's close, go with the new one. If it's a big difference either way, your decision is made.

 

This approach may not work for you, but it works for me. Everything has a value on it for me. I look at the cost of something new and say is it worth X number of days/weeks/month/years of my pay? Maybe yes, maybe no.

 

Hope this helps. DEWFPO

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If you are still making payments on the 06 keep it at least until its actually paid off. Here the magic number is 100000 km... which you surpassed about 28000 miles ago. Its an 06... its not worth a lot either way. I would drive it into the ground and enjoy not paying for something that constantly depreciates but that's your decision to make.

 

Sent from my SGH-I747M using Tapatalk

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I agree completely with Badass69. I have an '01 that has 170,000 miles on it. I've maintained the truck since new and I will drive it until it goes to the junk yard. It isn't worth much as far as blue book, but it's worth a million to me!!!!! I use mine for towing my 26 foot cabin cruiser and 27 foot enclosed atv hauler. It's been paid off for 7 years now and it's great not having any payments!!! I have a laugh at my buddy, he's one of those guys who has to have that new truck smell every 3 to 4 years and is always in "Car Debt"!!

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If you are still making payments on the 06 keep it at least until its actually paid off. Here the magic number is 100000 km... which you surpassed about 28000 miles ago. Its an 06... its not worth a lot either way. I would drive it into the ground and enjoy not paying for something that constantly depreciates but that's your decision to make.

 

Sent from my SGH-I747M using Tapatalk

miles, not KM. I have 90000+ miles not kilimeters

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I agree completely with Badass69. I have an '01 that has 170,000 miles on it. I've maintained the truck since new and I will drive it until it goes to the junk yard. It isn't worth much as far as blue book, but it's worth a million to me!!!!! I use mine for towing my 26 foot cabin cruiser and 27 foot enclosed atv hauler. It's been paid off for 7 years now and it's great not having any payments!!! I have a laugh at my buddy, he's one of those guys who has to have that new truck smell every 3 to 4 years and is always in "Car Debt"!!

thats great and all, but I'm 37 and never had a new truck...and I have a LONG time before its paid off. Thats my point, I already have a payment and will have it for a while...but it will be more

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I know people who are way older than 37 and have never owned a new vehicle. They're the people who can afford to go out and buy things they want on a moments notice because they don't have to send the bank tons of money every month.

its called living in New York...lol the Vampire state

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thats great and all, but I'm 37 and never had a new truck...and I have a LONG time before its paid off. Thats my point, I already have a payment and will have it for a while...but it will be more

 

I'm not telling you what to do. Just my own experiences. Great, I would get a NEW truck if that's what you want to do!! You asked a question and people respond. Good luck on your decision!!!

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