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keep it or sell it?

2K views 13 replies 4 participants last post by  spun360 
#1 ·
I am torn between keeping my truck or selling it and picking up a mint condition loaded 2014 2wd.
My truck needs a trans rebuild ($1500), paint and body work ($2000), front & rear axle rebuild ($1450), new interior carpet & seat upholstery ($950), and a true dash replacement ($450).
So the total to restore my 15 year old, 190k mile truck is around $6500.

If I sell it as-is I'd be able to get maybe $2500.

My co-worker is selling his 2014 Hemi 2wd fully loaded truck for $21k, with less than 20,000 miles on the odometer.
Yes I'll pick up a car payment, but everything works and it's just barely broken in.

What to do? I really like the look of the 2nd gen Rams, and I like wheeling every once in a while...but I (and my wife) would like to have something that's nice and doesn't need a lot of work.

This won't even be a DD, it'll be used when the entire family (4 + 2 dogs) need to go somewhere and when we need to tow the boat.

What should I do?
 

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#2 ·
I think you answered your own question at the end.. " This won't even be a DD, it'll be used when the entire family (4 + 2 dogs) need to go somewhere and when we need to tow the boat ".

the only necessary work needed is the trans rebuild and the axles rebuilt, body / paint and interior isn't mandatory since as you say it isn't a daily driver

if you buy the newer truck and finance it you are probably looking at a minimum 5% interest rate and on a 60 month loan costs you $3560
and don't forget state sales tax, here it is 6% which adds another $1312 to the top of the loan and $25875 not counting motor vehicle fees
and a $431 per month payment for 60 months

of course this all hinges on how much you are putting down on the truck to begin with and doesn't factor in the cost of full coverage insurance
which is necessary when financed

personally I wouldn't spend that kind of dough unless it was a daily driver and you needed reliability for back and forth to work

of course that's just my opinion so YMMV
 
#3 ·
Thanks for the input.

Another variable you mentioned is downpayment.

I was discussing it with my better half last night and have come up with another option that would lessen the financial blow regarding insurance and financing.

She suggested selling her 13 Dart Limited, which is still worth ~$14k, keeping the old Ram as a work truck/wheeling toy, and getting the new truck as her DD.

The 14 Ram has all the goodies her car has (Nav, Uconnect 8, heated leather, sunroof, etc) but also has A/C seats, power rear slider with paint matched topper, and a shit ton more room.

It would equate to no difference in insurance as I'm removing the Dart and 01 Ram and adding the 14 Ram
The financing portion would be around $15k with TT&L. This would be a non-dealer purchase so I would only pay sales tax on what the purchase price supposedly was, here in TX it's 8%...I'd be looking at less than $300 a month. The only additional financial obligation would be fuel.

My co-worker that drives it now is getting about 16 mpg city and can squeeze 20 on the highway, which I might be able to improve on with a CAI and cat-back, but that's still half of what the Dart gets (34c/41h).

If I purchase the newer Ram it will probably be the last truck I purchase for at least 10-15 years. Previously I had a completely restored 97 that I had to let go in 2012 due to it being a single cab and having a family of 4.
 
#5 ·
good point. One of my co-workers was telling me that automax will appraise a vehicle and give you a written estimate for purchasing it. Depending on how much they mark it down I might go that route.
If they offer me 10% less than blue book I'd take it, they have to turn a profit and I need to unload a vehicle.

The sell date for the 14 Ram will be when he is done restoring his 77 power wagon, which is looking like sometime in November (it's half way through a frame off).

I'm leaning toward keeping the 01 Ram as I wouldn't get much for it, and I can go wild with the build if it's not going to be the primary tow / haul rig anymore.
 
#6 ·
good point. One of my co-workers was telling me that automax will appraise a vehicle and give you a written estimate for purchasing it. Depending on how much they mark it down I might go that route.
If they offer me 10% less than blue book I'd take it, they have to turn a profit and I need to unload a vehicle.
--- in 2009 I bought a new challenger se outright for $21K OTD
after 22 months of ownership, 1 highway trip and only 2200 miles on the odometer I decided to off the car.. while I loved the old school look
and the interior was really nice the car road like SH*T!!! literally killed my back on the one 700 mile road trip I took it on in October 2010 and when I got back I told my wife come spring this car is GONE!!

long story short in February of 2011 I called CarMax, we buy any car and car cash.. the highest offer I got was $15k and they ALL made it sound like they were doing me a favor.. I waited a month so weather was warmer and put it on craigslist mid March.. not even 2 weeks later I accepted an offer of $18750 and was GLAD to be out from under one of the worst riding cars I ever owned

with that said your experience may be different BUT I would be surprised if they made you any kid of fair offer for the car..
good luck
 
#8 ·
UPDATE: 01 to get Restored

After talking it over several times we decided we don't want a car payment, so the wife agrees we should restore the 01 so it's safe & reliable and keep the Dart for now...plus we don't want to be without a 4x4.
As the trans recently failed, it's getting a rebuild once I pull it.
The next items will be the steering, which will be a stock replacement steering box with lifetime warranty and replacing all 6 u joints.
Paint will be last on the list, I will do the two tone black blue black. Everything from the top of the bedrails up will be gloss black, everything from the mirrors down will be patriot blue, and the rockers will get another coat of rhino liner.

I can't say I'm not happy, i really love the look of the 2nd gen Rams :D


thanks for all the input.
 

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#9 ·
Glad you're keeping it! I dream of having a newer truck someday, but remember this: the 2nd gens are the last of an era and breed. Nothing has straight axles anymore, manual 4wd, or in my case, manual trans with V8. So I can't even trade up as what I would be getting is trading out. If I ever got a newer rig, I would absolutely keep mine just for historical reasons! Then sentimental ones also as I have replaced almost everything in it and it has more blood, sweat, and dna than my bed. Besides, we need you here, Chizzle, 'cause I think there's only like 5 of us left. . . .
 
#13 ·
thanks. I will be taking my time, money is a little tight right now which is why I am pulling the trans.
If I had the money I would definitely pay someone, it's a PITA.
 
#11 ·
I agree. love the 2nd gen rams. I might be dropping a $6k bomb on mine before the winter is over!
 
#12 ·
engine?
 
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