You're in the catch 22 most of us fine ourselves in.  I'm putting a new trans in my 214k mile '06 F250 as I write this.  I'm not buying a new truck anytime soon.  The prices they want are ridiculous, and I've got a 7 month old son in daycare to the tune of $1,200 a month, so I'm not going to be making truck payments anytime soon.

But, buying used look at what you are buying: someone else's problems or a vehicle that's going to need costly repairs in the near future.

Buying something 30+ years old as a DD, putting that kind of mileage on it, man, that's a real gamble.  True, those trucks are simple, and cheaper to fix, but where do you find one without 150k or more on it?  Those '80s Suburbans are awesome.  We had one that logged 300k+ before we sold it.  Wouldn't be surprised if its still running.  I have a '86 K5, which is just a chopped down 1/2 ton Suburban.  Great trucks, simple to work on, easy to fix.  If you're not towing or hauling anything and can deal with worse brakes, sloppy suspension, and a decided lack of power compared to new trucks its not a bad way to go.  Avoid the 6.2 Diesels; they're a toilet.

Honestly, if you want something older for a reasonable price I'd give Toyota a serious look.  They really go forever if maintained, and are also relatively simple and cheap to fix.

The biggest issue with the older trucks around here is the tin worm, aka rust.  Even my '06 has the wheel arches falling off the bed.  Anything older is going to be much worse, unless I buy it from someplace they don't rust, but then that's a trip, or buying sight unseen. 

I'll be interested to hear what the other guys think.  We have this debate on the Diesel forum about twice a year.

I do this too myself about once every couple years. My 02 supercrew with 225k miles has just a bit of piston slap when cold but other than that it runs fabulous, Its the 5.4. The trans shifts great and it still drives fairly well. Plugs were changed at 150k. It has zero rust on it, has slight crack in fiberglass bed where daughter backed here jeep into it. My concern is right now the 02 may still have some value, but in another year at well over 260k it wont be worth anything.

I'm not making a car/truck payment anytime soon either, daughter in college, son turning 16 in couple months and twin boys right behind him.

 

I think with that kind of mileage a diesel might fit the bill. You'll pay more for a nice one for sure, but you can drive the heck out of it. 

Don, I still have my 2003 supercrew 2wd with the 5.4
It always gets 16mpg. My new truck hovers around 20mpg.
I know the guy who had my truck leased. My plan is to keep picking up his lease return every three years. Guy keeps his truck in excellent condition.  Just my two cents.

I just picked up a 95 F150, 300 cyl. 5spd.  Pretty cheap $1,800, Needed clutch. Truck has 168k miles, but the eng. Is strong and quiet.  I think I could get another 75k miles or more?  These engines are bulletproof.  I ride nice and comfortable A/C, power steering, brakes, doors and windows. Good simple truck. This one is regular cab short bed, so maybe they'll be collectible when I get ready to sell?

                                                                   HOW ABOUT A 'BLEND ANSWER'!
I agree with Red AND Josh!!
IF you could find someone like Josh's friend that turns in a lease truck every few years....that would be the best deal.
Those guys are probably few & far between. He pretty much breaks the truck in and you get all the "goodie" out of it!

Red thinks a lot like me. Drive it until the wheels fall off(or the 'tin worm' gets it!) I would bet over the long haul.....repair costs would be less than "new-truck payments".
EITHER one is just the cost of do'in business.....new truck payments or repair costs.    With young children coming along...they could learn to drive your old hand-me-down trucks...until "they-buy" their own set of wheels.

Side note......I have a 91 S-10 with the 4.3 engine. 240,000 miles on the original engine. (heads have never been off!)  Gets the same semi-crappy gas mileage its always got and uses zero oil between changes.  Like most folks will attest to.....these little engines are  near "bullet-proof"!
Like Red......I'd have zero worries driving it to the MSBB? this year.
6s6 

Have fun with the new project......and nice find!

Ozblitz wrote:

I just picked up a 95 F150, 300 cyl. 5spd. Pretty cheap $1,800, Needed clutch. Truck has 168k miles, but the eng. Is strong and quiet. I think I could get another 75k miles or more? These engines are bulletproof. I ride nice and comfortable A/C, power steering, brakes, doors and windows. Good simple truck. This one is regular cab short bed, so maybe they'll be collectible when I get ready to sell?

My daily driver is a '91 F150, 300 I-6 with 5 speed with 240,000 miles on it.  I've heard many people claim that you can usually get about 300,000 miles out of a Ford 300... I'm gonna find out.  I've had it since '96 with very few issues, and when there are issues it's still pretty easy and cheap to work on.

MS wrote:

If you are considering buying something older, I would reconsider.
I would keep the one you already own. You know exactly what you have, and even an engine and tranny replacement will cost you less than another truck that probably needs the same thing plus brakes, shocks, ball joints, etc.

I agree with that completely.  That's the only thing that's kept me from selling my truck and buying one just like it with a 351w.  I've considered just swapping in a 351w, but I'm scared of making all the wiring work out.

I like buying used cars from people I know that take good care of what they have. Done that with several cars over the years with good luck.

I had a 300 -6 in my first truck, a 76 short bed pickup. That's a tough motor to kill, and believe me I tried as a 16 to 18 year old that wanted a V-8. The last time I put a clutch in it, I found that once I had a few of the pressure plate bolts in place, I was able to rotate the motor by turning the flywheel with my hands to get to the rest of them. That's with the spark plugs in it too!! For as loose as it was, it cranked and ran good.

Good luck with the new project, the 4 eyed cars are my favorite Fox body.

I'm with Josh on a truck that has lower miles and newer.  I wouldn't want to be stranded going to work or with kids in toe.  My nephew just bought a new Ram Truck 1500 with the hemi.  He popped the hood and I couldn't believe it had a Manual Fan.  I thought everything had Electric today.   Steve69

The last generation 300 (4.9) vs the 96 F150 302 (5.0)
300: 
150hp @ 3400 rpm
260tq @ 2000 rpm

302:
195hp @ 3800 rpm
270tq @ 2400 rpm

That 400 lower rpm makes the 300 feel so much stronger, the torque is all there sooner and closer to the rpm you spend all your time at. That's why I've always said if we would build our V8's for how we really drive and enjoy them instead of how we think we will drive (6000 rpm) them, we would be much happier with our engine builds. The older I get the more I want tons of torque down low, and a smooth idle.