Jim basically has two problems. The truck has 94,000 miles and the payment is $570/month.
So by the time it's paid off it will have 150,000 miles on it. And time for a new one.
If a vehicle is well-cared for it should get to 200,000 miles or more. I got to 212,000 on my old Sport Trac with a rebuilt transmission at 132,000 but the last two years I owned it I spent a lot of money on repairs and getting it to pass inspection and emissions. The blown head gasket was the last straw and I said no more, I'm done.
The thing with Jim's truck is that all the mods and money put into it don't really make it worth any more so I'm thinking you might as well keep it unless you want to try your luck at Barrett-Jackson or the For Sale Corral at Carlisle.
I'd be lucky to break even at a dealer, but KBB says it's worth more than I owe if I sell it myself. The lift, wheels, grill guard, sliders, winch, bed rack, and toolbox with my onboard air, DC/DC charger and Lithium battery don't really add to the value, but they might make it more appealing and make someone feel like they're getting a good deal. I could actually remove the winch, rack, onboard air, and aux battery setup. Remove my decals and slap a new FX4 decal on there and sell it. Add the air, winch, and battery setup to my next vehicle.
The advantage to Texas is that I can find older vehicles that are solid with maybe some surface rust if the paint has worn off. The clearcoat has started failing on my 2005 Jag, but it doesn't have any rust on it anywhere. I bought that thing a few years ago for $3,500. About the cost of 10R80 rebuild if I take the transmission in to them.
Heck, I saw a 1984 Bronco II on Marketplace with a Duraspark conversion, C5 automatic, and working A/C for $3,700 and "Flexible on price for the right buyer". Even has the opening rear window in the hatch that is a must have if I bought a Bronco II. I don't have $3,700, but if I had to borrow the money that would 6.5 months of my current truck payment and then I'd be payment free with an extra $570 a month for repairs and mods.
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I feel like I should drive my car more to keep mileage off of TRS-3, fix up TRS-2, and then consider selling TRS-3 once I feel TRS-2 is reliable and I don't need TRS-3 to haul stuff I need for TRS-2 (why does that sound confusing?).
I don't know. We'll see.
