Is this a stupid move or what ?

5 years is a long time for a piece of iron to sit idle.

Seals and gaskets are likely to have gotten brittle from lack of use.

Why not consider using that $5,000 for a down payment on a $40-50K truck instead?

And start putting a maint escrow away for stuff like this.

 

Good points there MNdriver. I was considering early model trucks for my first purchase and kept getting told the same thing. Low miles is good but sitting idle for long periods can be worse than having been worked and having higher mileage. I was seriously considering some 80's model cab overs but just couldnt get past that advice that came from many varied and knowledgable sources.
An owner has to put money aside for major overhauls if they can foresee them being needed in the time period they own the truck. It can be hard to keep on top of those extra funds when times are tough. I opted to buy the best I could afford and am happy I did, I agree with the down payment on an upgraded truck. On the other hand 20 grand is ballpark for a major overhaul and if the OP can make it happen he will see a lot more life out of the truck he currently has. It sounds like the OP is in a bit of financial dire straits so I guess he would have to go with whats best for his situation,only he can figure that one out. I would think the mack wont have a whole lot of mumbo under the hood so I wonder if it will be able to do what the pete could? Hard to answer the original question, too many unknowns but sometimes its "Better the devil you know!"

 

So true there....

part of the reason I have no issues saving that first $20-25 K in maintenance escrow and going on vacation and coming back to a truck with a fresh major in it 6-9 months after buying it.

You may have laid out some serious coin....

But when a new truck is $100K +....

$40K for a truck and new engine is cheap.

Takes some serious discipline to sit and look at money in a savings account grow and to continue adding to it. Fiance has been taking her second job paychecks and putting them in savings. To her, it's a foreign concept. we just got hit with $700 maintenance bills on two of our cars.

We didn't even flinch at the hit we took compared to two years ago.

 

Aint that the truth right there! I was saving hard for my truck and a few times there were things I could have done with the money. One was a trip to jamaica for a friends wedding, was hard to say no but I did. Another was the new dodge ram, man i wanted one, still got my old ram though! I have no doubt now that I have the dicipline to squirrel every last penny away until I am happy that I have what I want to cover me. I've got a good head start with some cash on hand but I know how quick things happen and that those things aint cheap so I'm saving hard till I am happy. Some things ya gotta pay for but if ya just "want" it and dont "need" it , then dont buy it!

 

Why not have a custom rebuild on the Pete,(PDI or PP) have more HP and fuel mileage and a fun truck to drive. Then you know what you have. You will spend 5 grand resealing everything on the Mack and if the tires are new but 5 years old they are worthless.

 

If you have a local shop you goto. maybe they could do a loan on the repair?

 

I'm sorry to hear that. I hope every thing works out for you and your family. In that situation I totally agree the truck becomes a second priority. Family first.

 

While I agree with everyones comments, I gotta tell you, I found a 1986 Ford C8000 on a trailer lot that hadn't left the lot in 9 years. Never got above 2nd gear the whole time and never traveled more than 100 yards (small lot). It rarely ran because they didn't know how to prime it and start it. I bought it for $1700 and so far, I've only had to replace the steers, an alternator and regulator. Granted, it's not seeing the mileage our Volvo 780's see but man it's nice to have a truck paid off and without all the electronics, egrs, etc. this thing never breaks down or bleeds our maintenance account.

If you buy the Mack and it can get you by for a bit while you save up again, once you go for another truck, you'll have a back up truck that doesn't cost you anything.