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 > Selling 2018 F150 to upgrade to 2022 F150 - worth it or not?

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ferndaleflyer

everywhere

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Posted: 07/27/22 08:18am Link  |  Print  |  Notify Moderator

Sure is nice to have a F150 and a F350 DRW parked in the barn. Old but low mileage and paid for. Those trucks original cost was about 1/2 what a 2022 would cost and will do the job just as well——might not smell as good but close. Anyway keep your truck.

MitchF150

Puyallup, WA

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Posted: 07/27/22 08:55am Link  |  Print  |  Notify Moderator

I would not do it.. I'm hanging onto my 13 F150 for as long as it still runs..

What is the draw to a 22 that the 18 is not providing?

Mine is only an XLT, but does have the nice "302A" option package along with MaxTow and a nice #7700 GVWR.

Anyway, it's sticker price was $43k, but I got it for $33k brand new back in early 14.

I'm pretty sure to get anything even close to my 13, I'll be north of $60k in a heartbeat..

I am now daily commuting in a 14 Ford Escape with the 2.0 Ecoboost (Titanium) model. It's got more gadgets in it than my F150, but I don't need that stuff in my truck...

Anyway, I did pay off my F150 early to buy the 19 Rockwood... I went from a $400/month payment to $277/month payment, so that was a "win".. [emoticon]

Anyway, you gotta do what you gotta do... I still want a 1969 Mustang with a 428/4speed in it.. But... Oh well.. ha, ha.. [emoticon]

Good luck! Mitch
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2013 F150 XLT 4x4 SuperCab Max Tow Egoboost 3.73 gears #7700 GVWR #1920 payload. 2019 Rockwood Mini Lite 2511S.

PButler96

Midwest

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Posted: 07/27/22 09:11am Link  |  Print  |  Notify Moderator

MitchF150 wrote:



I'm pretty sure to get anything even close to my 13, I'll be north of $60k in a heartbeat..



Especially when you take into account most if not all dealers are holding sticker for new vehicles with no negotiations, and the vast majority are $5K above sticker or more depending on model which they call a "market surcharge" on in stock trucks, if they have any to begin with. A local dealer near me has an F250 XLT that they are holding out for $8K over sticker, it's been sitting out front on ramps for over a month with no takers. Some sucker will eventually come along.


I have a burn barrel in my yard.

p220sigman

Tallahassee, FL, USA

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Posted: 07/27/22 09:22am Link  |  Print  |  Notify Moderator

You are likely going the wrong direction if your goal is to be less tight on money. If anything, sell the '18 and look for something older you could pay cash for with the proceeds from the '18.

Anything in the used market is going to be tough still and you are not likely going to get favorable interest rates for something new, so you will be increasing monthly outgo making things even more tight. Early on in the vehicle shortage, you may could have done a favorable deal with the value of late-model used trucks being off the charts, but now it is largely offset by the increase in purchase price for the new vehicle with dealers not negotiating and even adding additional mark-up. None of this takes insurance into account either.
You may very well see an increase in insurance for a newer vehicle as well.

valhalla360

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Posted: 07/27/22 09:49am Link  |  Print  |  Notify Moderator

Let's break it down:
- You made no indication of the current truck having issues (which would hurt resale anyway).
- You made no indication that the current truck isn't suitable for you current trailer (which would indicate you should be looking at bigger trucks not another 1/2 ton).
- You made no indication that you are looking at a bigger trailer (which would again suggest a bigger truck anyway).
- A 2018 with 60k miles should be good for 150-200k more miles, so it's no where close to the end of it's reliable lifespan.

So you haven't demonstrated any "need" for the new truck.

Let's say you do really well and sell it for $25k.
After paying off the $7k, that will leave you $18k.
If the new truck is say $48k, you wind up increasing your debt from $7k to $30k.

Don't forget to include registration and sales tax which might add a few thousand before everything is done.

All while "money is tight".

If you were trying to sell me on this deal, what would your selling points be? Other than new car smell, I've got nothing.


Tammy & Mike
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Lwiddis

Southern California :(

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Posted: 07/27/22 12:10pm Link  |  Print  |  Notify Moderator

With your money tight and nothing apparently wrong with your 2018, why?


Winnebago 2101DS TT & 2022 Chevy Silverado 1500 LTZ Z71, WindyNation 300 watt solar-Lossigy 200 AH Lithium battery. Prefer boondocking, USFS, COE, BLM, NPS, TVA, state camps. Bicyclist. 14 yr. Army -11B40 then 11A - (MOS 1542 & 1560) IOBC & IOAC grad


time2roll

Southern California

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Posted: 07/27/22 12:51pm Link  |  Print  |  Notify Moderator

valhalla360 wrote:

If the new truck is say $48k, you wind up increasing your debt from $7k to $30k.
I think the OP wanted to finance 40k and have 10k in the bank to have some "easy money"
Of course easy money is easy to spend and money gets even tighter by the start of next year due to the new monster loan.
Never try to borrow the way out of debt.


2001 F150 SuperCrew
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Krusty

Calgary, Alberta,Canada

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Posted: 07/27/22 12:56pm Link  |  Print  |  Notify Moderator

Keep your current truck if there is nothing wrong with it and get it paid off. I am much happier with no payments. My 2011 still works perfectly and I would not replace it with one of these new ones for anything.


Krusty
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wildtoad

Blythewood, SC

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Posted: 07/27/22 01:53pm Link  |  Print  |  Notify Moderator

If you like your current truck, it pulls what you need it to, why in the world are you wanting to swap? I fight the urge to swap cars by simply pulling maintenance on my 2015 2dr Wrangler, upgrading electronics, giving it a bath, and a new set of tires. Now I have to keep it to justify the upgrades. Prices are high, interest rates are going up.


Tom Wilds
Blythewood, SC
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valhalla360

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Posted: 07/28/22 06:51am Link  |  Print  |  Notify Moderator

time2roll wrote:

valhalla360 wrote:

If the new truck is say $48k, you wind up increasing your debt from $7k to $30k.
I think the OP wanted to finance 40k and have 10k in the bank to have some "easy money"
Of course easy money is easy to spend and money gets even tighter by the start of next year due to the new monster loan.
Never try to borrow the way out of debt.


In that case, he would have $40k in debt instead of $30k along with the interest on the extra $10k.

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