Time to Let Her Go?

It's a tough decision to make but getting your finances in order should be a priority! You still have a long future ahead of you and can get back in a Raptor or long travel F-150 sometime later. Having your own home is better than having a dream ride and renting imo. Good luck with your decision, your not the first one on this forum to have to make this decision.

Judging from the pics you have some money tied up in this truck more than $5000. What are going to replace it with? I am a used car dealer here in NJ. I have a warranty company I deal with owned by Ally Financial Vehicle One. You can service it at Ford or Any repair facility. Give me a call if that's what you are worried about. I will go over pricing which will be a lot less than going back to a Ford dealer where they would skin you alive.
On the other note if you need to regroup sell the truck and take some time off. And get your finances in order.

Or fix your truck and pamper it instead of beating the shit out of it.

Whatever the decision is best of luck.

Thanks for all the great advice everyone, it really helps seeing it from other perspectives. I am currently stirred up on which direction to take though, because to be quite honest my next vehicle payment would not be lower as new trucks keep increasing in value (ridiculous!). Truck just got dropped off at the dealer for the issue that just came up, turned out to be one of the blend door actuators and once again will be covered under warranty. Finances aren't really complicated at the moment, thankfully I have a good paying job, it lies more in the fact that I keep spending money on mods (it's addicting) rather than to be saving for a big down payment on a house. But on the other side if I do trade-in for a new F150 my monthly payment will more than likely increase and within time I will not be happy cuz at the end of the day it's not my raptor. I will be seeing my buddy a finance manager at a Ford Dealership this weekend and we'll see what results from that..hopefully I make the right decision. For now, I have a couple of days to think about it.

Thanks guys,
Ivan

I would not trade for a new truck and pay more to get less. Sell it and buy a cheap economical car with no or very low payments so you can really save for the house. Or keep what you have and look at extending the warranty. Resist the urge to mod!!

WRCRaptor said:

I would not trade for a new truck and pay more to get less. Sell it and buy a cheap economical car with no or very low payments so you can really save for the house. Or keep what you have and look at extending the warranty. Resist the urge to mod!!

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you are going to hate the new f150 and payment would go up and it not the same thing. Keep the truck and get extended warranty. and get rid of the credit cards. make a plan for yourself AND STICK TO IT.

Go with a cheaper off-road vehicle you can drive regularly. Clearly you like wheeling, but don't like the Raptor tax. A nice Ranger would be ****.

Raptizzle said:

There's always going to be another truck. Sell it, get finances in order, buy a house, and then go get yourself another one when the time is right.

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Exactly.

give it to me, ill take it

Sounds like you are being an adult. Here is my advice.
1) Make sure the dealer offer is market value. I doubt the dealer is offering what you can get selling yourself. The dealer will be looking to make $5-8K in reselling it.
2) Get a copy of Total Money Makeover by Dave Ramsey. His advice on getting out of debt has helped millions. I've given copies to many people I've worked with and the ones who followed the advice are so happy. Once you have an emergency fund, savings, a house, and no other debt then buy expensive toys.

TBH, I don't see a point in selling the Raptor and buying a new truck if the payment will be equal or higher. Not to mention when you go house shopping your total loan would be higher and have more term left than the Raptor.

The newer F-150 will have a greater depreciation drop than the Raptor, and it's not a Raptor, so you'll have a higher payment on a truck that may not be up to your standards/wants.

Either go used, but one still in warranty/CPO range, where the initial big depreciation hit has occurred or go with an econo car short term. Then once you buy the house you like, then you can go back to a fun vehicle in a short time.

Also, look up values, auctions are the best if you can find those numbers, and go to multiple dealers if you want to trade it in/not deal with private sellers. Could get a mini bid war going on.