Would You Invest in My Truck or A Newer Truck

[NightHawk]

Hello Everyone,

I have been going back-forth for several months now on if I should invest in my truck or a newer truck.

Now it must be stated that my current 2^nd gen has been nothing short of awesome to me, always completed the task asked (towing, road trip, hauling) but its now 15yrs old with 171k miles. I just got back from another road trip to visit my friend out of state (360 miles each way) and I came to the conclusion I either need to invest in my current rig or search for something newer (3^rd /4^th gen).

The below list are the items I know of my truck would require to be invested in (not necessarily in order) to be 100% in my book (some may not be necessary to others). Let me know what you think and thank you !

 

• Cracked Dash (all cracks repaired with epoxy, doesn't look the best but covered by a dash mat)

• Driver's Side Heated Seat No Longer Works (pad has broken connection, annoying to me)

• Drive's Side Power Seat Back Switch is Toast (requires a whole new control panel)

• Driver's Side Seat is ripped along the seam (needs to be re-stitched)

• Stereo speakers are worn and sound fuzzy ( annoying to me)

• AC isn’t “cold” anymore

   

• Four New Shocks (original set still on truck !)

• Track bar bushing are worn (original set)

• Control Arm bushing are worn (original set)

• Sway bar bushing are worn (original set)

 

• Two New Batteries (they are 5 yrs old and starting to cause corrosion issues @ terminals)

• Two New Battery hold downs (corrosion issues from batteries)

• Terminals/grounds need a cleaning (time investment-not money)

   

• Stock Headlights are faded (restored them twice with a kit but doesn't last long)

• Stock Foglights are faded/cracked

   

• Transmission (auto) leaks @ the pan (bent pan)

• Transmission (auto) leaks @ the shift selector shaft (bad oring)

• Leaks oil from @ supply line vaccum pump connection (drips after 3-4 days of sitting, non running)

• Exhaust System is rust/rattly (annoying to me but works fine)

• Stock Air Box leaves something to be desired (works fine, but like the S&B dry filter setup)

   

• Front Grill cracked in places (needs to be replaced)

• Front Bumper plastic is faded (looks terrible in my view)

• Rear Bumper is bent and needs to be replaced

• Sport Mirrors aren’t the best for towing

[TFaoro]

In the end, it comes down to what YOU want. If you really like the truck, fix it and roll on. If you want something new go for it! 

What I will say is these trucks are easy and cheap to fix. Everything you have listed above MIGHT cover the cost of a set of injectors in a CR. If I were you, fix one thing a week, and in no time it'll be the way you want it.

[CSM]

If you want to, you can keep it and fix the mechanical issues.  However I'd expect less reliability in the future than you have enjoyed thus far as parts wear out.  Not to say it wouldn't be reliable, but there would be more frequent tweaks on various parts.

You likely need new ball joints as well as new hub bearings before too long.  I'd also expect a transmission refresh wouldn't be amiss if it is all stock. 

The seats will need done by an upholstery shop, mopar doesn't have skins or foam any more.  The plastic bumper parts are also tough to find.  The rest can be had easily and installed with swear words proportional to the amount of rust.  

The upside of keeping it is saving the money.  The downside is cost plus the work.  3rd gens are getting old as well and I don't have the cash for a low mileage 3rd or a new 50,000 truck.  I've decided to stay with my 2nd gen for the time being.

Personally, if it were me, I'd add up the parts and labor to fix it all the right way and compare to the cost to replace with something newer.  Then consider your budget and allowance for driving an older truck.

[The_Hammer]

It depends on what you want, how mechanically inclined you are, and if you enjoy wrenching on your truck. I've done a LOT of work to my truck and while there were times I wanted to pull my hair out I still enjoyed it. Here's what I've done so far:

• New tires and rims (truck had 16.5's on it) 
• Fully built transmission
• New billet triple disk converter
• Two new batteries
• Replaced timing cover seal
• Replaced tappet cover gasket
• Set pump timing
• New belt tensioner 
• New unit bearing
• New front brakes
• New rear brake drums, shoes, and upgraded wheel cylinders
• New lift pump 
• Had the injectors cleaned, pop tested, and shimmed
• New headlight switch 
• New headlight bulbs 
• New wastegate actuator 
• New heater and evaporator core
• New DOR adjustable track bar 
• New Bilstein 5100 shocks

I'm currently in the middle of replacing the ball joints on the passenger side and upgrading the steering. I'm recovering my head liner whenever it warms up and dries out a bit. Next on the list are new sway bar end links and a dash. I'm also building a shackle reversal for the rear and new set of extended control arms for the front. Down the road will be bigger injectors and turbo. 

Keep in mind that my truck has 300k miles on it and the previous owners didn't have the slightest idea what maintenance was. Right now I have a little over $8k in to the truck including the trans, tires, and rims. Regular maintenance parts haven't been bad, it's the upgrades that really hurt the pocket book. All said and done I'll have about $20k in this truck after paint. A lot of that will be uupgraded parts like the trans, injectors, turbo, head studs, ect. All in all I'll end up with a nice looking rig that makes lots of power and will be built by myself. 

Bottom line is that general maintenance doesn't cost too much if your able to do it yourself. Having to pay someone else to do these things will drastically increases the cost of ownership. If you enjoy working on your truck then keep it. If the thought of tackling these things yourself makes you cringe, sell it. 

[Mopar1973Man]

I'm also holding out on my 2nd Gen trucks. Maintaining my current two is cheap than maintaining a 3rd or 4th gen when you start looking up parts and prices. We both agreed (MoparMom and myself) to hold on to our two 2nd gen trucks and fix them up. Yeah there is thing that will drive you crazy like my ABS issue but I will over come it.

My plans are to drive my truck to the moon and back. By then it should be well wore out. 238k miles to the moon so I'm on my way back at 256k miles. Too bad you not closer to me I can fix most of what on your list without thinking.

Edited January 3, 2016 by Mopar1973Man

[Wild and Free]

To me getting rid of my 2nd gen came down to time and time alone. Unlike most I put a value on my time and when one is a tech for a living and then to have to give up time doing things I enjoy like boating and traveling ect to come home and work on my own rig continuously made it an easy choice that a newer one was worth ditching the 2nd gen for. You have a long list of stuff that is all relatively easy to fix but add them all up is not going to be cheap add on top of that the age that those issues will be popping up full time from here on out. I am super anal about small issues and have to fix everything as soon as I notice them or it drives me nuts which is why I had to part with it as well, just too many things that drove me nuts.

 

So how much time and money do you want to invest is the question only you can answer.

[dripley]

It does boil down to what you want in a truck. The list you have appears long but most of it is not difficult to diy and save a lot money. If you pay someone to do it all it would get quite expensive. Most of the body parts you list are available thru LMC truck and you can find some on Craig's list and such. The mechanical parts are available at any number of places. My truck has 356k miles and I still have all the confidence that it is going to get me to my destination. You can by a newer truck but you never know what you might have to put in it to keep it going. It is still a used truck. 

On top of that I am going to beat Mike back from the moon.

[The_Hammer]

@Wild and Free

I was a heavy equipment mechanic for years until I started getting burnt out on pulling wrenches. I lost all interest in working on my own stuff so I completely understand where your coming. When I got off work the last thing I wanted to see was a wrench lol.

Edited January 3, 2016 by The_Hammer

[CSM]

2 hours ago, Wild and Free said:

To me getting rid of my 2nd gen came down to time and time alone. Unlike most I put a value on my time and when one is a tech for a living and then to have to give up time doing things I enjoy like boating and traveling ect to come home and work on my own rig continuously made it an easy choice that a newer one was worth ditching the 2nd gen for. You have a long list of stuff that is all relatively easy to fix but add them all up is not going to be cheap add on top of that the age that those issues will be popping up full time from here on out. I am super anal about small issues and have to fix everything as soon as I notice them or it drives me nuts which is why I had to part with it as well, just too many things that drove me nuts.

 

So how much time and money do you want to invest is the question only you can answer.

It isn't always that we don't value our time, but some of us  bought a second gen when we should have bought a third gen and now are kind of stuck in the decision.  

I have a paid for truck that runs well enough, but requires work and I can't afford a new truck.  The third gens are great, but I don't think buying a 10 year old truck again is the answer to my problems.   I did that with this one, and look where it got me.    

If I could buy a new 07, I would.  If I could order a 2016 for the prices of an original 07, I would.  If I didn't need a 3/4 ton truck, I would sell this one and buy a Tacoma.  However, I need a heavy duty truck for the towing.  

[Mopar1973Man]

Absolutely. If I had deep pockets and could afford the loan payments yeah I might go for newer truck. Since I took care of my truck and really don't have any major failures or issues it just easier to maintain what I've got than to invest in a newer truck and loan payments. Like Holy Cow the price of new truck vs. what my 2002 was brand new. I only paid $35k for mine. You can't even touch a new truck for that much unless its completely stripped. Then you look at maintenance cost and part prices you about fall over.

[eddielee]

I would buy your truck and ditch my 1999 if I were closer and you decided to sell.

The front bumper cover can be cleaned with a chemical, search it. Usually that faded color is actually wax from a car wash or something, may be the case with headlights too.

So If you did sell it, what would you want for it?

[JAG1]

Yeah the used price on these second gens stays high cause of this site, Michael Nelson keeps everyone's running and has figured out how to get around Dodge's rig-a-morrow. I really think there is some truth to this.

Edited January 3, 2016 by JAG1

[Wild and Free]

If one could afford the payment in the first place then the day it is paid off that money goes into a savings account until there is enough to pay cash for the next one and so on, That is how I fund my purchases. If you had been living without that money for whatever term the loan was worth and survived then you can continue to. My Grandfather built up a 7K acre farm on 1 steadfast principle he drill into me. "If you can't afford it then you don't need it".

Never spent more than 28K on a vehicle in my life. There is no vehicle on the planet work more than 30K in my mind.

 

Like I posted earlier it all comes down to how much time and money one wants to stick into it long term, when the never ending maintenance of a rig equals a payment of a new one then it is a no brainer. And when one can finance new ones for near zero % to 6 years or more then it becomes a lot easier to make that decision if one is not disciplined enough to save up.

 

I am my own banker now as well. I have a universal life plan that allows me to borrow against my own cash value in my policy using the life ins amount as collateral, win win for me going into retirement, I paid myself back and am earning interest from myself along with dividends, and am not tied to any commercial banking system for savings and loans if I were to want one.

Edited January 3, 2016 by Wild and Free

[Killer223]

tank the monthly payment amount you would be spending and save it for 6 mo or a year. then see if your thoughts are different.

me. i went to a 3rd gen and love it. but have to admit i miss my 02.

the things your truck need are minor. if you desire to keep it for ever then sink the money into it. if you might want to sell in a few years then it doesn't make as much sense to do so.

it's almost always cheaper to keep what ya got and fix it.

above all don't put yourself in debt, why give the bankers more of your hard earned money. i pay cash for everything i own. everything is payed for. house, wifes car, toyota, my truck several dirt bikes, new commander max.. all payed cash. DEBT is BAD!!!!!!

but alas you only live once.

[JAG1]

You have a great opportunity in keeping your truck and will afford a great sense of accomplishment and satisfaction.

  I get that working on mine, at leas,t to the point I go look for things to do. It's a great hobby and once you get a good set of tools... you will find yourself looking forward to the next project.

[LiveOak]

Just my 2 cents worth.  For the price of a comparable new truck you could easily do a frame off, total restoration of your truck to include full rebuild of the engine, transmission, transfer case, both axles, drive shaft, and all suspension components.  Many of the restoration and rebuilds could be farmed out either to a trusted shop or trade your core item for an already rebuilt item.  I doubt you would exceed 30% of the cost of a comparable new diesel pickup and you would have a pickup that you know and like as well as trust to be reliable. 

[Me78569]

I have been eye balling some 3rd gens lately, because my truck is tired.   Can't argue that, but I cannot bring myself to spend so much money on a 10+ year old truck with 100,000 + miles.   I cannot understand how people pay for their new trucks as of late.  My mortgage is less than most of the payments for the new trucks out there.

 

so in the end I just keep driving the junker, I fix what is badly broken and ignore the 2nd gen rattles.  It always gets me where I need to go and even if I have to spend a hundred a month keeping it on the road that is better than a car payment, or even the full coverage that is required with a auto loan.

[JAG1]

My 1st gen is still a good truck and love it even more, the older it gets. With over 400k miles and almost 20 yrs of service from this truck, Nick, how can you call yours a junker. That's the sweet spot for my first gen.... all the bugs worked out some oem junk replaced..... she ran for about another 150k miles and she did not need anything and I could not believe it . She has been the best wife I ever had

Edited January 5, 2016 by JAG1

[CSM]

7 hours ago, Me78569 said:

I have been eye balling some 3rd gens lately, because my truck is tired.   Can't argue that, but I cannot bring myself to spend so much money on a 10+ year old truck with 100,000 + miles.   I cannot understand how people pay for their new trucks as of late.  My mortgage is less than most of the payments for the new trucks out there.

 

so in the end I just keep driving the junker, I fix what is badly broken and ignore the 2nd gen rattles.  It always gets me where I need to go and even if I have to spend a hundred a month keeping it on the road that is better than a car payment, or even the full coverage that is required with a auto loan.

You and I can start a self help group when I get back to the springs in 5-6 weeks or so.  Though, I really love my truck and the body style... I just wish it had a true 4 doors.  

[IBMobile]

I too a look at your list and came up with this:

dash pad --------------------------------------------- $260

a/c recharge 2 cans 134A ----------------------- $18

seat switch ------------------------------------------ $80

4 shocks @ $35 each ----------------------------- $140

track bar bushings-----------------------------------$11

control arm bushings 4 sets @  $20 each ----$80

sway bar bushings  4 @ $8 each--------------- $32

2 batteries  group 34 @ $100-230 each------$200-460

4 battery hold downs @ 8.50 each------------ $34

2 headlight assemblies @ $71-138 each---- $142-276

2 fog lights------------------------------------------- $30-57

transmission pan and gasket------------------- $45

transmission selector shaft seal ----------------$3

4" exhaust---------------------------------------------$270

BH Air Filter-------------------------------------------$50

front grill------------------------------------------------$62

front bumper cover----------------------------------$36

rear bumper-------------------------------------------$175

2 tow mirrors w/power @ $160 each-----------$320

                                                   TOTAL------$2409

 That's only $200 a month for a year if you do the work yourself.  I found most of the part at Rockauto  and Amazon.  As for the speakers I'd put in a new sound system.