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Should I sell my truck? Looking for opinions?
I recently bought a 92 F-250 7.5 V8 4x4 with 170,000 miles from my neighbor for $700, the transmission was shot. I was able to get a replacement with only 70,000 miles for $900. I now have the truck running, and in total I would say I payed $2000 in total. Jelly blue book doesn't go down to 92, but the oldest they have is 94, the 94 f-250 has the exact same body and engine type, I put in all the info of the truck and it says a fair value is $4,500 I think mines then worth $4,000. The clear coat on the truck is peeling and there are scratches, but almost no dents. The interior has power everything.
If I could sell it for $4,000 I would make a decent profit. But I'm tempted to keep it because I miss having a truck and wanna make this one an offroad vehicle.
What do you think? Is the $2,000 profit worth selling it?
2 Answers
- ?Lv 47 years ago
If you are swimming in debt and payments (house, boat, other car, student loans) then sell this truck and throw that $2000 profit immediately at one of those debts. And don't go out and immediately add $2,000 to your debt load just because you threw 2k at your existing debts.
If you are debt free, or nearly debt free, then heck, keep it. It has a huge engine, a tranny that you now trust and you seem pretty happy with it. You're not going to find many 22 year old trucks or cars that you trust & like.
I also don't think you're going to get $4,000 from selling it. Trucks & cars usually lose about 10% of their blue book value each year, so if you use that 10% depreciation figure from that 1994 F-150 you mention, you're probably looking at about $3,700 bluebook.
Since it doesn't sound like you have a desperate need to sell it, if you get no offers of $4,000, then don't sell it. I can see you regretting selling this machine more than enjoying the $2,000 profit.
- 7 years ago
If you don't need the money now, you might after filling that fuel tank a couple of times. But, i'd keep it anyway. If you still want to sell check NADA guides, they value all years.
