Ordering Another Ranger

[Trigganometry]

One positive I see here though. These trucks are holding their value and will continue to. Reduced numbers made for more than one reason and they are getting popular. So even if you step up as crazy as it sounds you’re going to be holding the same value. My guess is they will hold value for a longer period because of it. If the next Gen is ugly then we really cash in!

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[AzScorpion]

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

I can see where it tempting but you have to look at something else too. Do you really want a truck that's all dented up? Once this crazy vehicle thing ends what will your truck really be worth if/when you go to trade it in in a few years? A dealer will have to sink a whole lot of money into it and it might not be worth it for them to do this in a couple years. Now it is because of the shortages.

 

[LanoTX]

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?

None of the hail cracked the paint, one spot looks like someone took a sledgehammer to the pillar between the door and the roof. I love the truck I have and honestly planned on keeping it for at least the next 5 years. I had a 2007 Gt500 before the Ranger that I said the same thing about though and I ended up wanting a truck a lot sooner than I had thought.

 

[LanoTX]

I can see where it tempting but you have to look at something else too. Do you really want a truck that's all dented up? Once this crazy vehicle thing ends what will your truck really be worth if/when you go to trade it in in a few years? A dealer will have to sink a whole lot of money into it and it might not be worth it for them to do this in a couple years. Now it is because of the shortages.

I agree, same advice my father has given me. 7 thousand sounds tempting but how much will it cost me in the long run is how I was thinking about it.

 

[AzScorpion]

I agree, same advice my father has given me. 7 thousand sounds tempting but how much will it cost me in the long run is how I was thinking about it.

Ok now I feel old but you're dad's a wise man. lol

But seriously just like Rick said you're going to retain your value stepping up to a newer one because the prices are so crazy right now. Sure it will steady off but something could happen in a year or two and you'll need to get rid of it, stuff always happens unexpectedly in life. You're going to be in much better shape with a new one than this dinged up one.

 

[Bludrok]

Check with Carvana to see what they will offer. Only takes a few minutes to check.

From there, only you can decide how to proceed, but I will say that $36,000 is a lot of money. Exponentially more so for a broke college student.

The Ranger is a very nice and very capable truck. If I had 15,000 miles on my truck with $4000-$7000 in damage and could trade it in for a new one for $3000 ($36k - $26k Trade - $7k Insurance = $3k balance) I would take it. However, I would not be driving an expensive truck if I was a broke college student, which is why I said, only you can really decide.

 

[LanoTX]

Ok now I feel old but you're dad's a wise man. lol

But seriously just like Rick said you're going to retain your value stepping up to a newer one because the prices are so crazy right now. Sure it will steady off but something could happen in a year or two and you'll need to get rid of it, stuff always happens unexpectedly in life. You're going to be in much better shape with a new one than this dinged up one.

I wouldn’t feel old.. I’d feel advanced haha

 

[jsphlynch]

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.

First off all, kudos to you for being a "broke college student" but finding a way to own a new pickup outright!

If it were me, and I (i) had the opportunity to offload my truck for 6k over what I paid for it, (ii) had the use of a family member's pickup for the foreseeable future, and (iii) was having a little buyer's remorse over not springing for a couple more features, then I would be on my way to the dealer with the title. Rather than order one, though, I'd sit tight for a few months with the expectation that inventories would start to build enough that there will be some incentives on the way.

On the other hand, if I was planning on driving the truck to the end of it's useful life (and thus was not worried about resale), I might just keep the dimpled truck and use the $7k to outfit it with some fun accessories and take it on a road trip.

 

[LanoTX]

Check with Carvana to see what they will offer. Only takes a few minutes to check.

From there, only you can decide how to proceed, but I will say that $36,000 is a lot of money. Exponentially more so for a broke college student.

The Ranger is a very nice and very capable truck. If I had 15,000 miles on my truck with $4000-$7000 in damage and could trade it in for a new one for $3000 ($36k - $26k Trade - $7k Insurance = $3k balance) I would take it. However, I would not be driving an expensive truck if I was a broke college student, which is why I said, only you can really decide.

I tried the carvana route, the hail damage makes that tougher than it sounds. I do agree a “broke college student” shouldn’t be driving this vehicle in the first place. I just have spent time wisely since early in my high school days to buy what I’ve wanted to buy and I have slowly traded up from an older 2wd f150. Also was blessed with a great first vehicle to start with from my parents.

 

[LanoTX]

First off all, kudos to you for being a "broke college student" but finding a way to own a new pickup outright!

If it were me, and I (i) had the opportunity to offload my truck for 6k over what I paid for it, (ii) had the use of a family member's pickup for the foreseeable future, and (iii) was having a little buyer's remorse over not springing for a couple more features, then I would be on my way to the dealer with the title. Rather than order one, though, I'd sit tight for a few months with the expectation that inventories would start to build enough that there will be some incentives on the way.

On the other hand, if I was planning on driving the truck to the end of it's useful life (and thus was not worried about resale), I might just keep the dimpled truck and use the $7k to outfit it with some fun accessories and take it on a road trip.

Thanks for the perspective, extremely tempting to buy the laundry list of stuff I could throw on the truck and get out there. As far as what I do in the outdoors though, all I need my truck to do is carry my kayak. Texas isn’t a great place for local wheeling spots, unless you’re lucky.

 

[Motorpsychology]

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

Looking for a monkey wrench thrown in?
Rangers and other models aren't even being scheduled for build this week (but that can change weekly), and the F150s & Ecosports are 8 weeks out from scheduling, not built sitting in your five story parking garage. I ordered mine on February 1st, got it scheduled for production Apr 6, built April 26, delivered May 3, then I had some dealer options installed and signed out May 5. So around
13 weeks when chip supplies weren't quite as scarce. I may not have the full picture, but having a brand new truck on campus indicates to me that discretionary income is a concern but not a huge one. I would do this:

• Check with Carvana as @Bludrok suggested. I and others here have dealt with them; straight shooters- what they quote is what they pay, and it could be more.
• Know that ordering a new Ranger likely will be 12+ weeks from the time the order is put in (confirm that the dlr uses priority code 10; the highest retail priority)
• Keep "Dimples" and the insurance check? This boom time sellers' market will eventually correct itself, banks are paying negligible interest, so you'll probably spend the ins check on Spring Break, and nobody will give you anything for a 3-7 year old pockmarked truck down the road unless it is very substantially discounted vs the then current market. Lose-lose.
• If you intend to actually keep the truck for five years or more, I would dispose of the hail damaged one and order another, as long as the $3K gap will not infringe on your education

 

[LanoTX]

Looking for a monkey wrench thrown in?
Rangers and other models aren't even being scheduled for build this week (but that can change weekly), and the F150s & Ecosports are 8 weeks out from scheduling, not built sitting in your five story parking garage. I ordered mine on February 1st, got it scheduled for production Apr 6, built April 26, delivered May 3, then I had some dealer options installed and signed out May 5. So around
13 weeks when chip supplies weren't quite as scarce. I may not have the full picture, but having a brand new truck on campus indicates to me that discretionary income is a concern but not a huge one. I would do this:

• Check with Carvana as @Bludrok suggested. I and others here have dealt with them; straight shooters- what they quote is what they pay, and it could be more.
• Know that ordering a new Ranger likely will be 12+ weeks from the time the order is put in (confirm that the dlr uses priority code 10; the highest retail priority)
• Keep "Dimples" and the insurance check? This boom time sellers' market will eventually correct itself, banks are paying negligible interest, so you'll probably spend the ins check on Spring Break, and nobody will give you anything for a 3-7 year old pockmarked truck down the road unless it is very substantially discounted vs the then current market. Lose-lose.
• If you intend to actually keep the truck for five years or more, I would dispose of the hail damaged one and order another, as long as the $3K gap will not infringe on your education

Man, that wasn’t fun to read lol. As far as infringing on my education, I’ve made it this far without messing up too bad. Time will tell. Regardless, I appreciate the heads up on build times. 12 weeks sounds excruciating.

 

[HBird]

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.

Lubbock? A fellow Red Raider? I'm all to familiar with Lubbock flooding when I went to school out there lol. My roommates and I would sit on our patio and place bets on which cars would get flooded at the roundabout outside

 

[dapakattack]

Lane, if you haven't already done so, open up a ROTH IRA and put that $7k into it. By the time you retire, that $7k will be worth a few Rangers. If you put even a little bit into retirement now, you'll be way ahead of the game...much easier than trying to play catch up.

 

[Hickesy]

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.

If you're broke you could probably live without the 101A package no and get the price down further?

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