Consider, Buy, Or Run like Hell?
 

Hey guys,

I hope it's ok to post this thread in this section. Tried to do it in the "new owner, potential owner" section but it wasn't accepting new threads, so it said.

So, I am thinking about "buying" a 1994 Chevy 2500 with a 6.5L Detroit. The truck has 229xxx miles on it. Truck is owned by a mechanic. The reason I say "buying" is because we are essentially trading vehicles. My '06 Honda Pilot (worth $10k) for his Diesel mentioned above. He is throwing $4k on top of the trade.

Blue Book says his truck is worth only $3500 to $3900 in very good condition. It's been my experience that KBB is rather low on diesel values though. I've seen plenty of people buy diesels with 200xxx miles or more and happily pay $10k. Am I misinformed?

This will be my first diesel and I'm sure a heck of a learning experience as I will probably be doing all the maintenance and repairs myself. Note.....I'm nothing close to a mechanic....at all.

So, help me out here.........Consider, Buy, or Run Like Hell??

I love mine but I would not give any were near that $ for that truck.

So just to be clear because I threw out a lot of numbers. I'd basically be buying this truck for about $4,000. Although it will cost me no money at all.

My Honda is worth $10k, I owe $4000.

I figure his truck is worth about $4,000 max, which he will be trading me, and also paying off my Honda, so I will no longer have a car payment, and I will once again have a vehicle I can work with. So I'm essentially taking $8,000 for my Honda Pilot, which I'm satisfied with because I'm sick of monthly payments. The $2,000 difference comes out in the wash because my Honda is financed, I pay interest, and the bank can take it if work slows down this winter.

So, you are saying you wouldn't pay anywhere near $4000 for the diesel pickup? If so, what would you feel comfortable paying?

That sounds like a better deal.I did not understand it that way the first time I read it.

Thanks for the input. I'm sure if I make this deal, which I probably will out of necessity, I'll be posting quite a bit.

I just sold my 96 with 180,000 1 ton for 3000 and it had a utility bed, just for reference that is a decent looking truck tho