Should I sell my Raptor?

[kawie95]

I have had my truck since November of 2011 and love it. I have put 29k miles on her and have been to the Grand Canyon, Eureka, Baja, Salton Sea, Mojave, Sequoia, Bishop, Big Bear, and lots of other places.

Its really made me enjoy driving, especially on cold mornings with remote start. I get a smile coming out of the store and seeing my truck, forgetting I am so lucky to have such a nice vehicle.

Its reliable, roomy, but has a few cons.

Gas MPG. 10.7 mpg costs a ton to drive around. $100 barley lasts me a week, even if I just drive between LA and Santa Monica once a week and locally around town all week. Just seems to go quick.

Payments- They are $650 for 7 years. I still owe $32k and bought it for $62k from Ken Grody. Insurance is about $120/mo and DMV in CA charges $550/yr for the renewal.

Its about ~$1,000/mo to own this truck.

I made some bad decisions to put $15k into it with mods.

I think I could sell it for $50k? Not sure, it has a lot of good mods and pretty much new BFG Project 37" tires. Few paint scratches from brush so its for offroad use. I still have the OEM tires, so I could put those on and keep the BFGs for a few years until my next Raptor.

If I did sell it, I would have to buy a new truck and it would probably need maintenance costs, etc. Then in a few years, I would buy a raptor again.

Slight chance next June I will be able to afford the extra costs, but this truck is still expensive.

Anyways, should I battle it out and keep hanging on or cut my losses ($15k mods, $30k loan payments/down payment, $500 renewal). I would like to buy another one in a few years, at least before I get too old

 

[pirate air]

If the payments are becoming tough to make.. Sell it.

 

[MKSVT]

Sell it, no way to work just to pay a truck. There will always be another raptor waiting for you!

 

[FullAuto]

Never be car poor....sell it if you can't afford to own it.

 

[tbone]

There will always be a raptor for sale in the future

 

[KaiserM715]

Sell it and buy something used.

 

[SuperRaptor]

Never be car poor....sell it if you can't afford to own it.

I hate to tell someone to sell their pride and joy but this is a true statement ^

 

[Deleted member 12951]

Make it work. Sounds like you are going to have a truck payment regardless, so why not for the Raptor. Never good financial sound advice but if you can't afford the payments then refinance for more months to lower it.

If you do sell it, then go get a beater and spend no more than $5k for a used truck. Raptor's might not be around in 2015 and you probably don't want a first model 2016 so get the used truck and set aside money for the next 3 years that way you will be in a better financial situation in 2017 when you buy your next raptor.

 

[Raptor911]

some advice. Don't tell the world you had an accident and that your 4-wheel drive still does not work. And now no one who reads this thread will consider buying your truck.

 

[schaibaa]

I have had my truck since November of 2011 and love it. I have put 29k miles on her and have been to the Grand Canyon, Eureka, Baja, Salton Sea, Mojave, Sequoia, Bishop, Big Bear, and lots of other places.

Its really made me enjoy driving, especially on cold mornings with remote start. I get a smile coming out of the store and seeing my truck, forgetting I am so lucky to have such a nice vehicle.

Its reliable, roomy, but has a few cons.

Gas MPG. 10.7 mpg costs a ton to drive around. $100 barley lasts me a week, even if I just drive between LA and Santa Monica once a week and locally around town all week. Just seems to go quick.

Payments- They are $650 for 7 years. I still owe $32k and bought it for $62k from Ken Grody. Insurance is about $120/mo and DMV in CA charges $550/yr for the renewal.

Its about ~$1,000/mo to own this truck.

I made some bad decisions to put $15k into it with mods, then had an accident that has had the truck in the shop for most of this year. 4wd still does not work, and I have to take it back to the shop again as soon as I get a loaner truck from my bro.

I think I could sell it for $50k? Not sure, it has a lot of good mods and pretty much new BFG Project 37" tires. Few paint scratches from brush so its for offroad use. I still have the OEM tires, so I could put those on and keep the BFGs for a few years until my next Raptor.

If I did sell it, I would have to buy a new truck and it would probably need maintenance costs, etc. Then in a few years, I would buy a raptor again.

Slight chance next June I will be able to afford the extra costs, but this truck is still expensive.

Anyways, should I battle it out and keep hanging on or cut my losses ($15k mods, $30k loan payments/down payment, $500 renewal). I would like to buy another one in a few years, at least before I get too old

One thing to consider, I highly doubt you'll get 50k. It's possible to pick up a new one fully loaded for invoice - so from my own perspective, I wouldn't buy a used one (even if it had the exact mods I wanted) for anywhere near 50k. Maybe 40k.

That may impact your decision to sell - where did you come up with 50k?