Safe to buy a truck with high miles and repair it?
I was just wondering if it would be a good idea to buy a 2007 ford f150 with 233,000 miles for only $6,000 and just save up enough money for a new engine ($3,000-4,000 more dollars) when it goes out and have a pretty new truck with a new engine. It's a very clean truck in EXCELLENT condition, it just has a lot of miles. Or is this just a really bad idea? I attached a picture of the truck.
So then you still have a truck with 233k+ except you have $9000-10,000 in it.
The truck seems overpriced to me. What do the valuation guides say?
And the transmission could go out too. Then you are talking $12,000-14,000 in it.
And there are a large number of smaller cost repairs that could occur.
The books/guides devalue by a LOT for the extra miles.
So its important to go in with eyes wide open.
A $5000 repair fund set aside would be a good idea.
It sounds like too much of a hassle for what its worth. If you actually want to spend several thousand dollars on a car that won't work the way you want to then why purchase. It may seem like a good idea in the short term but you are spending the money to fix it in the beginning, think about long term if the car breaks down will you have the money and patience to fix it again?
Not sure id buy it
First engine second transmission next rear end and front end. Once the engine goes you have more parts to replace. So that is a lot of money.
$6000 is not any kind of great deal for a truck with that many miles. That's a little above Blue book. Lots of other things can go wrong besides an engine. Then again…
If the truck has been well taken care of, I would by it and expect the engine to last virtually forever. (as long as I owned it.) (years)
The numb er of miles is the last thing you should look at, … Except for negotiating price.
Who can predict what the future holds? See a fortune teller instead.
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