Hey guys,
I've done some basic arithmetic and these are the numbers I've come up with, would you please help critique?
New truck vs Old truck (650,000KM Odo or 405k Miles)
Price:
180,000 vs 90,000 [80,000 + 10,000 Premium 2000 Warranty (still deciding on the warranty)]
Interest on loan:
35,000 vs 17,000
Value of truck after 5 Years or 750k Miles Driven:
50,000 vs 15,000
Additional Maintenance Old truck would need over New truck:
0 vs 30,000 (Big ticket items should last to a million miles at least, I think I might be overestimating this amount for old truck)
5 Year Cost of Ownership:
165,000 vs 122,000 or 112,000 without warranty
I am missing one component, how much more fuel efficient the new truck would be compared to old. It tough to calculate because you have limited control on the specs of the older truck (this is just a hypothetical exercise). If you buy similar specs, how large would the fuel advantage be? I am guessing 0.5mpg over the life of the truck. Over 5 years that translates to an additional $25,000 to the cost of ownership of the old truck.
So maybe in the end it could look like $165,000 vs 147,000 or 137,000 without warranty.
Thank you
Age old question: New truck vs used truck?
Discussion in 'Ask An Owner Operator' started by sooopertrucker, May 2, 2019.
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Does the warranty cover the income you can't make while the truck is in the shop, and this goes for both new and old. If you're going for something with all the emmissions headaches just buy new. You can spend as much time in the shop for emmissions issues on newer stuff as an engine overhaul for something older from what I've heard.DrDieselUSA and sooopertrucker Thank this.
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Company driver - I want new , brand new.
If I own my own truck I want old , old enough to easily pay cash for. I don't borrow money so money isn't an issue for me. The more $$$ money is not an issue for you the better your life will be.m16ty and sooopertrucker Thank this. -
Additional Maintenance Old truck would need over New truck:
0 vs 30,000 (Big ticket items should last to a million miles at least, I think I might be overestimating this amount for old truck) Where did you figure 0 for additional maintenance on new tuck? Would figure at least 10 cents a mile or maybe closer to 15.D.Tibbitt Thanks this. -
the number that matters to me is how much money is going out if the truck sits, at home or at a shop, or when the economy isnt that great
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Used trucks are a hit or miss.. I spend 19k last year and 20k the year before on repairs, I have a USED emission truck.. Overall a good truck that has never left me stranded but even small stuff is expensive on trucks.. I’ve ran the math with the $1200 payment I have on the current truck and with what I spend in repairs I could be driving a new one.. New ones still break but I wouldn’t be footing the bill for the first 4-5 years depending on what factory extended warranty you get.. New one still cost money on maintenance but maintenance is peanuts compared to repairs.. just my figuring on my situation and this only applies to a used EMISSION trucks.. with a pre emission motor I could just about rebuild the engine every year with what I spend on keeping emission truck rolling! Go figure
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I am looking at old too but what I see right now is a lot of 1,400,000 mile trucks going for 20,000 to 25,000 that haven't had anything rebuilt or overhauled. Problem with going for something old enough to cash flow is, just about everything will start needing an overhaul or replacement within the time you own the truck.
Then there's the fuel mileage to consider, Newer trucks are at least 1mpg more fuel efficient ($10,000 to $15,000 savings annually).
How long would you expect to keep the truck, 5 years at least? Within that time, it's easy to imagine California like laws would spread to more liberal states and Canada. -
Have all the repair you had to have done all been emission systems related? If so, could you please give a brief summary of what specifically you had to have repaired? Thanks
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Why do you think Mega carriers only keep theirs around 3 years... because of all the BS with emissions and repairs. That is why you buy new and trade it in every 3 years. If you buy used at 700,000 miles then you are buying someone elses problems.
1029384746 Thanks this. -
If given the choice between new or old, I personally would go not only old but old enough to be pre emissions. This would not work for everybody.
In 99 I bought a 97 with 211,000 miles on it, it had no major expenses spent on it until I had it inframed at 960,000, beyond a clutch tires, water pump, one set of brakes and an alternator. It had been paid off for a couple of years by then.
In 2001 I bought a 99 with a fresh inframe and transmission, I the only major expense before it was paid off .
was an ecm. I did have to do a head gasket, a new tranny and a front spindle in the next couple of years.
I have a 96 with a cat that dropped a valve before it was paid off. It only had 2 payments left, and I do most of my own work, so I paid it off and drove one of the others while I did a head job on it. It now has over a milion and still has the same clutch, trans, and rears that it did when I bought it, and they have not been touched, nor do they need to be. It was the oldest with the most miles of any that I have bought, other than some dirt or log trucks, and every major component had been replaced by 500,000 miles.
I have never had nor want a truck that requires 30,000 a year maintenence on it.
I do not think a guy could do this or even think about having that kind of lick with any truck after the emissions got crazy, so I will just stay with my older trucks.
I can't run Cali, oh shucks, that just burns my biscuit.
I can't lease on to a lot of companies, again, big deal.
I know some of you can't live with those restrictions though.DrDieselUSA, Brettj3876, adayrider and 2 others Thank this.
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