Buying a used Ford Powerstroke?

I'm buying a used Ford F-250 powerstroke diesel truck. I have narrowed it down to 2 different vehicles.

The first one is a 2004 F250 6.0L Lariat edition. It has 239k miles and has been bulletproofed (brand new head studs and head gaskets) and has also been fully deleted. Other than that, it is stock. It hasn't been 'worked' and also has a clean carfax and title. It drives great, like new. The body has no dents and is flawless, it has been very well taken care of. It is being sold for 13.

The second is a 2001 f250 platinum edition 7.3L. It is an old girl, it's got 322k miles. It is the current owners pride and joy, has been used every day for years. It has dents and character, but runs strong. It has brand new injectors, Ford factory drivetrain, Ford factory transmission, starter, suspension, and lots of other things. It has a 6 position tuner. It has been worked. It has been well maintained and has over 25 grand invested in it. I've driven it also, it drives solid. It is being sold for 10. It also has a clean title and carfax.

I need insight as to which is the better investment, both are great solid trucks. Any advice?

Check KBB.COM. The 2001 is probably worth less than $2,000, The 2004 about $10,000.

I have an 03 6.0 and LOVE it. The 6.0 gets a bad rap, The main thing to look for is maintenance, The heads and cooler have been done, which is good. But the death is in the details. Take a scanner with you and run codes on both. I like the turbo spool of the 6.0 vs any other on the market. You just need to know what you are getting into. As far as an investment? The mileage doesn't matter, anything over 150k is all ruled the same by kbb. Go with the one you like and enjoy… At least it's not a dodge…

Even if I had 100% of the purchase price in-hand and ready to spend on either truck, here's what I'd do first - I'd go to my bank and ask them to finance the truck(s). Tell them you'll put ~10-20% down and finance the rest. My guess is that your bank will probably refuse to finance either truck. Why? Because the bank knows it's too much of a risk to finance a truck (either truck) of that age and mileage.

What's the point of the above? Well, if a bank considers something too much of a risk to finance then that tells you something very important (or at least it should…). By purchasing either truck, YOU would be taking a financial risk that a bank would be unwilling to take even though they'd earn a healthy amount of interest on the transaction in the process.

If it were me, I wouldn't buy either of them. Not at those prices. I don't care what the book value is on either of them - they've both got enough miles on them that they could go from a 5-figure-book-value purchase to a lawn ornament worth next-to-nothing (or a vehicle that requires extensive and expensive repairs to NOT be a lawn ornament) a couple of months after you buy either of them. I wouldn't take that kind of a risk unless you're in a financial position where $10-$13K is just "throw-away money" to you anyway.

Obviously a used Powerstroke engine is not worth any more than scrap price. Figure that you are going to have to spend $5000-$10000 on either one soon. If you want a used diesel in a pickup, get a Cummins.

Hmm

Make sure to check the engine first!

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