Ordering Another Ranger

[LanoTX]

Bought my truck(super crew XL 4x4) back in November of 2020, the market was flooded with new trucks and I bought mine for 27,000 + TTL. I’ve driven it for almost 15,000 miles. Back in April the DFW area had some bad hail storms come through and my truck got caught in some of the worst of it. I just returned from my local dealer with a trade-in offer of 26,000 and I still have my insurance check to cover over 7 thousand dollars of damage. I haven’t fixed the damage. I’d get a near free warranty reset and be able to snag some missing options from my current truck like the rear locker, spray in bedliner, and the 101A package with cruise, power mirrors, etc. The order price of the new Ranger being 36,000 this is a substantial decision for me, a broke college student. I owe nothing on my truck currently, but don’t want a body shop cutting my roof off and putting in a new one. A few thousand dollars for an upgrade and reset back to 0 miles sounds like a good investment. Also my truck would get a clean record for resale value and what not. Someone let me know what a grown-up would do in my situation and in this crazy market we live in today.

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[Trigganometry]

Bought my truck(super crew XL 4x4) back in November of 2020, the market was flooded with new trucks and I bought mine for 27,000 + TTL. I’ve driven it for almost 15,000 miles. Back in April the DFW area had some bad hail storms come through and my truck got caught in some of the worst of it. I just returned from my local dealer with a trade-in offer of 26,000 and I still have my insurance check to cover over 7 thousand dollars of damage. I haven’t fixed the damage. I’d get a near free warranty reset and be able to snag some missing options from my current truck like the rear locker, spray in bedliner, and the 101A package with cruise, power mirrors, etc. The order price of the new Ranger being 36,000 this is a substantial decision for me, a broke college student. I owe nothing on my truck currently, but don’t want a body shop cutting my roof off and putting in a new one. A few thousand dollars for an upgrade and reset back to 0 miles sounds like a good investment. Also my truck would get a clean record for resale value and what not. Someone let me know what a grown-up would do in my situation and in this crazy market we live in today.

Sounds like a decent move forward. Dealers are getting desperate too. The one that sold me mine 7 months ago already wants to buy it back for more than I paid. Problem for me is nothing to replace it with. So I’m staying where I am. If you got a replacement for sure it’s the right move up.

 

[LanoTX]

Sounds like a decent move forward. Dealers are getting desperate too. The one that sold me mine 7 months ago already wants to buy it back for more than I paid. Problem for me is nothing to replace it with. So I’m staying where I am. If you got a replacement for sure it’s the right move up.

My father has two vehicles so I’ll be okay while the new ones getting built, I just hope it doesn’t take much longer than 2 months to build. I’ll be in his GMC Canyon ?

 

[HBird]

My logical side says that if you owe nothing and have a check with $7K with your name on it, to put that in the stock market (or stonks if you believe in the to the moon ideas).

My other side says that having a truck without hail damage and having more creature comforts would be worth it in the long run, so I'd probably go that route. Especially since dealer valuations are through roof and we likely won't see something like this again for the foreseeable future.

 

[LanoTX]

My logical side says that if you owe nothing and have a check with $7K with your name on it, to put that in the stock (or stonks if you believe in the to the moon ideas).

My other side says that having a truck without hail damage and having more creature comforts would be worth it in the long run, so I'd probably go that route. Especially since dealer valuations are through roof and we likely won't see something like this again for the foreseeable future.

I actually live in Lubbock where flooding is an issue but I park in a 5 story parking garage, my truck got hailed on during a 2 day trip back home to north Fort Worth. You nailed that one.

 

[Joeiconic]

So, a dealer is offering you $26,000 on a vehicle with $7k in damage? I assume the damage has been disclosed to them?

 

[LanoTX]

So, a dealer is offering you $26,000 on a vehicle with $7k in damage? I assume the damage has been disclosed to them?

Yes the dealer knows the damage, they looked at the truck themselves and made their own estimate on it. They estimated 4.5-5k in damage. The only reason I have such a ridiculous estimate is because I pointed out each and every single dent on the video call with state farm.

 

[MXGOLF]

Wow I am glad I live in Oregon. I would hang tough for a whole new Ranger myself.

 

[Leftcoast]

I'd keep the pocked out truck. I'd keep the $7k and put it into my existing AA. You said you're a broke college student with a paid off vehicle.

 

[AzScorpion]

My father has two vehicles so I’ll be okay while the new ones getting built, I just hope it doesn’t take much longer than 2 months to build. I’ll be in his GMC Canyon ?

Did the dealer quote you 2 months for a new Ranger? Only reason I ask is with the chip shortage I thought it might be a lot longer than that. There are trucks already built and sitting for months now waiting for chips.

 

[LanoTX]

Did the dealer quote you 2 months for a new Ranger? Only reason I ask is with the chip shortage I thought it might be a lot longer than that. There are trucks already built and sitting for months now waiting for chips.

I was told at the dealership that the factory can have my truck delivered in 6-8 weeks. I’m hoping that’s the case, but as far as I knew before hand was exactly what you just said, trucks sitting for weeks.

 

[LanoTX]

Did the dealer quote you 2 months for a new Ranger? Only reason I ask is with the chip shortage I thought it might be a lot longer than that. There are trucks already built and sitting for months now waiting for chips.

I could be naive and waiting months for delivery, but my family has got me covered for the time being.

 

[AzScorpion]

I was told at the dealership that the factory can have my truck delivered in 6-8 weeks. I’m hoping that’s the case, but as far as I knew before hand was exactly what you just said, trucks sitting for weeks.

I just wanted to make sure you were aware of the chip shortages. They were hoping to have things somewhat back to normal by the 3rd quarter. As long as you have a backup I would dump it and wait it out.

 

[Charley]

Damn, usually I would say go for the new , but lets look at numbers

Original purchase $27,000 plus tax

New truck $36,000
Trade in -$26,000

you would owe $10,000 plus tax

Check in bank $7,000

Still need $3,000 plus tax

Was the hail damage bad enough to crack the paint, leaving rust spots?
Can you purchase after market cruise control these days?
Do you plan to drive the truck til it dies or just until you are finished with college and in a financial position to be able purchase something else?

 

[LanoTX]

I just wanted to make sure you were aware of the chip shortages. They were hoping to have things somewhat back to normal by the 3rd quarter. As long as you have a backup I would dump it and wait it out.

Thanks for the advice. I’m tempted to keep the insurance check but don’t see this opportunity to upgrade happening again anytime soon.

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