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Keep it or trade it in ??

Discussion in 'Ford Trucks' started by Eyesell, Oct 28, 2009.

  1. Eyesell

    Eyesell 2000 Club Member
    Messages: 2,107

    Ok my fellow Ford folks, the time has come for me to turn in my 2007 F-350 lease vehicle. Pictures attached....

    Here's my dilemma, my buy out on this truck is 29K, ( around 4K more than today's street value, but that's whats in the contact and Ford is not willing to deal what-so-ever ) I just turned 40K on the ticker, this is my question. Should I turn it in and buy a new 2010 ( leasing is out of the question due to cost ) or keep this one. I cannot afford the cost of a new diesel, the same truck in a 2010 diesel is 57K which = almost $900.00 a month :dizzy: or a V-10 model around $700.00 a month, not so bad. I would have about $ 1500.00 in expenses taking the plow and associated aftermarkets off and re-installing on the new truck.

    I figure if I use 60 months to finance would the 2010 V-10 be worth more at the end of the 60 months vs a 2007 with probably close to 80K miles..... but a diesel.

    I am no longer towing the camper seen in the picture ( sold it ) so the diesel is not a absolute requirement.

    As far as gas vs. diesel, diesel has always been more, anywhere between .30 and .50 cents more a gallon. I figured the V-10 is probably at best between 8 - 12 mpg while my current truck is getting anywhere from 13 - 18 mpg.....so where is the cut off point ?

    Your help with matter is greatly appreciated.... !

    Motorbecane Pictures 020.jpg
  2. 2COR517

    2COR517 PlowSite Fanatic
    Messages: 7,115

    Dump it. Buy a nice used 3/4 ton pickup.
  3. Evan528

    Evan528 PlowSite.com Veteran
    Messages: 153

    I second that. Turn it in and purchase a used 07 for 23 or $24,000.... even a slightloy used 08 with the new body style for under $30,000. Quite stupid of ford not to want to negitiate the buyout at all. They will probably get $22,000 when they send it to auction.

    In todays Market there is no reason to pay $4,000 over market value for a vehicle.
  4. mcfly89

    mcfly89 Senior Member
    Messages: 306

    except for the fact that that is one of the most gorgeous fords ive ever seen!!
  5. 2COR517

    2COR517 PlowSite Fanatic
    Messages: 7,115

    Are you serious? It's four tires and a seat. You'd pay a 20% premium because it's pretty?
  6. mcfly89

    mcfly89 Senior Member
    Messages: 306

    Have you seen my Ford? 4 tires and a set covers it pretty well. not much else could be said about it, lol.

    Seriously tho, there are other things to factor in here. He has had the truck since its birth. so he knows what to expect from it, how it handles, how its been treated. If he keeps it he wont have to spend a dime changing, removing or replacing anything. Diesels will ALWAYS be worth more when its time to trade em in or sell them. Depending on his financing APR that $4000 premium may be offset by a lower interest rate. and on and on.

    On the other hand, diesels are almost never cheaper to operate unless you keep them forever, and work em hard.gas trucks, especially big inch engines, are hard to get rid of. ya cant give em away unless someone is specifically looking for a work truck, and then they usually wont pay extra for a slick truck. so while you may pay an extra $4000 to keep this deisel, it may cost you $4000 when it comes time to sell you next gas motor truck.

    I'm in a similar situation. I have a crewcab diesel when its just me and my daughter. I still haul trucks, tractors, 4 wheeler, dunebuggys, campers etc...but I have the plow truck for the heavy hauling duty too. So i could sell the duramax and buy something less expensive to operate, and with fewer seats...but Id be sacrificing so much comfort and capability. its a trade off. just gotta decide what its worth to ya.
  7. show-n-go

    show-n-go Senior Member
    Messages: 776

    I work for a dealer. He are two things to think about or find out.

    If the dealer buy's it they can get a discount from Ford and then turn around and sell it to you.(if they will do it) We do it at Toyota/Honda all the time. It is still cheaper for Ford to give you some kind of discount since they will have to transport it and pay auction fees. They will not give you the full $4000 but maybe 2k of it at best.

    Right now at the auction you can't give away a v8 or v10 truck the same truck with a diesel will bring almost retail every time. We just sent a 2003 extra cab 7.3 4x4 with leather to the block and it brought $16,500 That's crazy but if that truck had a v8 or v10 we would have been lucky to get a bid on it and if we did it wouldnt have been anywhere near $16,500..

    I would figure out what your Ford dealer will do for you.

    If you plan on keeping a gasser for a long time then the resale stuff doesn't matter.
  8. Ne1

    Ne1 Senior Member
    Messages: 370

    Get rid of it. Look on ebay and other sites, there are deals all over the place. Why make a huge truck payment if you don't have to. JMO
  9. sno commander

    sno commander PlowSite.com Addict
    from ct
    Messages: 1,063

    id keep it. looks like you have it the way you want it, why dump it and go buy another used truck when you dont know its history. unless you want a new truck really bad i would keep it. can you negoitate a extended warranty threw ford if you buy it? 700 a month for a v-10 seems pricey whats the msrp?
  10. KJ Cramer

    KJ Cramer Senior Member
    Messages: 481

    I dont know how your lease term is set up, but are you over the mileage on it, because then they will charge you per mile at a rate set in your lease terms, and you might end up still having to pay money even to turn it in.

    Personally I would keep it, There are alot more associated costs with getting a new one, tax, title, licensing, excess mileage fees, plow dismount and re-mount, and any other accessories you have or need to add or get rid of.

    4,000, while over the actual value, might be worth keeping it, it would probably end up being a wash or better off.

    Re-sale on a gasser sucks, you'll end up ahead when you go to sell if it is a diesel.
  11. smoore45

    smoore45 Senior Member
    Messages: 526

    As much it would be nice to buy new and support the local economy, it probably wouldn't make the most sense for several reasons:

    1) You will lose way more than $4k on the residual value of driving the new off the lot.

    2) You will lose the $1500 you mentioned in aftermarket stuff, so the $4k basically becomes $2500.

    3) You know the history of your truck and is probably worth paying a $2500 "premium" for that over another used unknown. Plus you still may have some wiggle room with the dealer.

    The taxes and fees are going to apply no matter what you do because you have only been taxed on the leased portion of the truck. So be prepared to still spend close to $2000 in taxes and fees anyways.

    All that being said, you know your personal finances better than anyone, so if it doesn't pain you to do $700 a month, there is always the piece of mind of a new truck and warranty. A side note: The 2010 will be the last chance to get a V-10 in the non-chassis cab 250/350. Good Luck.

    DAFFMOBILEWASH PlowSite.com Addict
    Messages: 1,602

    So have you driven a gasser lately??? You will hate it after a few weeks or at least every time you go to the pump. Myself return the truck and look for a good used one. Ever considered a rebuit title one as a work truck. Same looks and milage but 50% cheeper to buy.
  13. suzuki0702

    suzuki0702 Senior Member
    Messages: 649

    dump it! buy a commuter car, and wait for the 2011 trucks. get the 6.2v8 when it comes out and be done with it!
  14. Eyesell

    Eyesell 2000 Club Member
    Messages: 2,107

    Guys, thanks for ALL the comments, I appreciate them all. I was at the dealer tonight and found out some more info.

    First to answer a few questions asked, I'm not over on the mileage, allowed 45K have 39K. I had a 2003 F250 V-10, it wasen't bad and yes you are right, the power is totally different. However the fact that I no longer tow anything with any weight, at least to justify the diesel, the V-10 should work.

    Dealer tonight found a 2009 V-10, sticker is 52K, this thing is loaded, leather, nav, sunroof, etc. Ford is offering about 7K in rebates right now, factor that in as well as employee price, ( father in law works for Ford ) I can this down to $676.00/month after all discounts, or $ 673.00 at 1.9% fin.

    The thing is at the end of 60 months I will have a truck with around 100,000 miles, but a diesel or one that is 5 yrs old with around 50K on it...gas.

    The dealer figured my payment on my 2007 to be $ 627.00 with taxes, title transfer, etc.

    What to do, what to do.......??
  15. F350plowing

    F350plowing Senior Member
    Messages: 481

    there making a 6.7 not a 6.2
  16. Steve G.

    Steve G. Senior Member
    Messages: 155

    I think there making a 6.2 gasser though;)
  17. F350plowing

    F350plowing Senior Member
    Messages: 481

    i think you might be right i thought he was talking about a diesel
  18. hydro_37

    hydro_37 PlowSite Veteran
    from iowa
    Messages: 3,790

    Buy the 09 with the V-10.
    I would
  19. Eyesell

    Eyesell 2000 Club Member
    Messages: 2,107

    I slept on it last night, that's probably what I'm going to do.
  20. stroker79

    stroker79 2000 Club Member
    Messages: 2,802

    IMO opinion, keep the 07