So I am assuming when you say "truck" that you need a dedicated work rig that's a full size 3/4 or 1 ton pickup. If not then disregard all this below as you probably need something smaller or more economical than what I am about to describe.
I bought a used 2011 F350 crew cab SRW 6.7L powerstroke with 6 speed auto trans back in early 2016 from a friend who just had to have the newest model out there - it was the best purchase I ever made & tows whatever I want to put behind while unloaded I get almost 16mpg with 4" of lift & 35" tires (truck is tuned/deleted). Towing a Kubota tractor or mini excavator or CAT's 299XHP skid steer I can still get almost 11mpg with all attachments/implements loaded up.
My family's business has always had Ford diesels since the mid 90's (for construction & towing) - they're excellent work trucks & you'll get tired of it before it gets tire of you. I've also driven a few friends' Chevy & Dodge diesel pickups but was never impressed with a Duramax (front suspension is anemic) or a Cummins (power comes in slow IMO & the ride is stiff). GM trucks cost just as much if not more than Fords & while Dodge is cheaper it also feels like it too (resale value isn't as good either).?ÿ
IF YOU CAN AFFORD IT & you foresee the need to occasionally tow heavier then get the diesel F250 (or larger). BUT DO NOT BUY THE GAS F250!!! Dad made that mistake for a 2 fleet trucks a couple years ago when fuel prices got high & he's really regretted it. His purchase were two 2016 F250's extended cab work bed gas pickups (Ford 6.2L gas motor). They get absolutely horrible fuel economy (single digits usually with work beds that aren't completely loaded) and they never tow because they just can't tow much more than a couple thousand pounds without riding everywhere in 3rd or 4th gear (sad for an automatic 6 speed trans and the relatively flat grades we have around here). Since then he's swapped back to diesel F250's, an F450 & an F550.?ÿ
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Mr math teacher, buying new trucks is "bad math".
Now, Nate, you know that it can go either way and you have to do good math to help decide. Either way, you're paying now for service in the future, so there's risk involved no matter what you do and the math is only one of the decision inputs.
Simple decision question. I'm going keep the truck I buy until it has 200,000 miles on it no matter what it takes. Here's a used one with 50,000 miles on it and here's a new one with 0 miles.?ÿ
If I can buy the used one for 75% of the cost of the new one, is that a break-even proposition? Would I be dollars ahead if I could buy the used one for 65% of the cost of the new one? What is the mileage-age-depreciation relationship?
Now, every time I've bought a vehicle, new or used, I think that I've paid full price plus 20%, so I'm not a good consultant. I can do the math but I fall down on the bargaining.
You want me for a client!
All new vehicles have a top price, (new, on showroom), and a bottom price, (crushed, and parted out, into its scrap metal price. There is a $ curve between these, where price drops a bunch, as you drive it the first day. It continues to drop, but at a slower rate on day 2. And there is a point at around 5 yrs of age, and over 100k miles where it's $ value drop rate flattens. That's where I like to buy them. Then, there is an event, towards the end of life of the vehicle, where the value drops sharply. Motor blows, or transmission goes out, and repairs are numerous, high, and "not worth fixing". I want to sell before that point. Often, that last price drop is only the price of tires, and a few parts. Maybe $500 to $1500.
Compute your miles driven, vs $ paid. Find the "sweet spot"...
That's a good way to go, unless you want to spend more $.
Keep the miles per dollars rate down.
Nate
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All new vehicles have a top price, (new, on showroom), and a bottom price, (crushed, and parted out, into its scrap metal price. There is a $ curve between these, where price drops a bunch, as you drive it the first day. It continues to drop, but at a slower rate on day 2. And there is a point at around 5 yrs of age, and over 100k miles where it's $ value drop rate flattens. That's where I like to buy them. Then, there is an event, towards the end of life of the vehicle, where the value drops sharply. Motor blows, or transmission goes out, and repairs are numerous, high, and "not worth fixing". I want to sell before that point. Often, that last price drop is only the price of tires, and a few parts. Maybe $500 to $1500.
Compute your miles driven, vs $ paid. Find the "sweet spot"...
That's a good way to go, unless you want to spend more $.
Keep the miles per dollars rate down.
Nate
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Interesting that the diesels can be fussy.?ÿ My dad uses a 2500 duramax to pull his 5th-wheel and it seems like every time I talk to him he's fixing something on it.?ÿ Granted he pulls the camper from North Dakota to Texas and back every year so things are bound to wear but... every single time??ÿ He usually dismisses my criticisms. ???? The truck is awesome to drive though so that makes me want one of my own.
Sound analysis. I've had a lemon or two among new vehicles, but I've never had a loser among the used ones. I like buying used.
[?ÿ .?ÿ .?ÿ .?ÿ ] Only complaint I have about the diesel is that the check engine light is always on, has to do with the emission system, to chek it they charge $125, and they fix it, but then it comes on again in a few days. So I gave up.?ÿ [?ÿ .?ÿ .?ÿ .?ÿ ]
Won't work in California.?ÿ If the check engine light is on you can't pass smog to get your annual license tag.
I've never bought a new car (have bought new motorcycles as toys); the roll off the dealership lot depreciation is killer.?ÿ I prefer 3+ year old fleet cars with less than 50k miles because they've been maintained, are usually competitively priced and often have transferable warranties, 5 years or so or even longer drivetrain warranties.?ÿ I've also bought used car lot cars, but only after a thorough mechanic's inspection and some quibbling.?ÿ Also some private party cars at garage sale prices, which have burnt me severly a few times but were fun (Porsche, Karmann Ghia, luxury Audi).
I keep 'em & maintain 'em till they either blow up or they're pushing 200,000 miles & 20+ years,?ÿ mainly because I can park them anywhere and car thieves pass on them because the bodywork/interior is shall we say, redneck style.?ÿ Never needed a work truck but question the mongo big diesel truck for daily surveying given our tools are relatively lightweight.?ÿ If your regularly trailering thousands of pounds thousands of miles then there may be a payoff.
'Scuze me but I look askance at new 2020 cars.?ÿ I don't need electric windows & tailgates, fancy big screen displays, massive turbocharger horsepower, lane monitoring et. al., backup cameras, tire pressure monitoring ad nauseam.?ÿ My arms and neck still work good, I can keep up on the highway with a 100hp engine in a compact and get 35-40mpg, AC consists of rolling down the window.?ÿ I guess I'm doomed when my present fleet dies.
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I agree 100% with "Keep the miles per dollars rate down."
Make sure your depreciation curve factors in the cost all of the money you spend setting up your vehicle. Safety lights, gear boxes, additional lighting, topper, shelving, charging outlets, racks, on-vehicle GNSS mounts, etc. The more miles that you utilize that setup, the lower the cost of ownership is.
There is definitely value in purchasing a lightly used and well maintained newer vehicle but those are hard to come buy. If you get a poorly maintained vehicle, you may get a project and not a work tool.
IF you drive a work vehicle until the odometer has 100k miles (edit this to be whatever number makes sense for you and the vehicle you have - we use 100k for a well maintained vehicle to minimize the potential for mechanical down time - which is very expensive, especially if it happens when the crew is en-route to say... staking curb and gutter (or some other activity that is schedule critical)) then your cost of that setup divided by (100,000 minus whatever the odometer says when you buy the vehicle) is your cost per mile.
Factoring in the search for the vehicle and the cost of setup (which can be significant), purchasing a new vehicle may be a contender for the lowest miles per dollar rate. ?ÿ
