Should I sell my Raptor?

[wanderfalk]

all things considered wether or not the four wheel drive issue is resolved would be the the deciding factor. fixed ,i tuff it out for a little bit . not fixed,sell and wait and see what ford does with the atlas derived raptor front wheel drive system. also how bad of a wreck ,if bad dump it.

 

[schaibaa]

Where did you come up with $40K?

I think he could pull $50k once he sorts out the 4wd and remaing issues.

Well you can pick up a 2011 with similar miles on Autotrader for 40k that (presumably) has everything in working order without a crash history.

Whenever I hear 'it has mods', 'was in an accident, and 'it's been in the shop for most of the last year' I think the quality of the installation and/or longevity of the vehicle is called into question. It may be a perfectly solid truck, but I think most owners are looking to get a fresh one and take it from there - rather than pick up the pieces from someone else's project.

No disrespect meant - I think he should keep it. If it was bone stock without issues, I'd suggest selling it. Maybe he can get 50k -- these trucks definitely hold their value! (impressive!)

 

[MagicMtnDan]

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

First of all, kudos to you for doing something most never do: Calculating what your vehicle is costing you to own each month! Financial security is built on knowing what things cost.

Secondly, good for you for considering selling a depreciating asset.

So:

* You've enjoyed your Raptor, driven it off road and had fun with it

* I didn't notice you mentioning anything about accident(s) or damage (other than scratches from off roading) so I'm not sure why others are talking about that.



I recommend you sell it.

* It's not going up in value

* I suggest you take off as much of the mods as is practical and sell them as that is cash you won't otherwise get (after your Raptor is sold and you're getting cash in your hand from selling the mods you will appreciate that you took them off and returned the truck back to stock or close to it).

* Get the money out of it while you can

* Don't look back. Always look ahead instead of living in the past. The Raptor is just a vehicle and you can always get another one. Look forward to the next one instead of thinking about the previous one.

Good luck!

 

[kawie95]

I think I am going to do this. I can hopefully get $10k from selling it, drive a beater truck for a few years until I get things together and save up the right way to buy a cool truck.

Savings:
$650/mo car payment
$120/mo car insurance
$80/mo second car insurance for friends car I don't drive
I will keep the $31 umbrella policy for my house and future auto.
$45/mo annual registration
Gas might be a wash since I will probably drive the beater truck more often since I will have money.
Savings: $895 monthly bills

More costs: truck repairs on beater truck, basic auto insurance, gas might still be less than I spend now- even if I drive more.

Benefits:
I will be able to sell my vehicle and my second auto (both under loans) and get out from owning a car for a friend. She makes payments, but I pay her insurance and had my credit dinged twice since she missed payments. Dropped by score 100 points and cost me 1200 in payments last year for her since she couldn't pay. Not to mention I paid about $500 of her insurance this year. We owe $5700 on the 2006 ford Taurus, hopefully I can get $4,800 to $5k for it, not to mention loan payment fees. So I might be out $1k.
KBB on the 2006 Ford Tarus SEL is : Excellent: $4,639, Very Good:$4,339, Good: $4,214, Fair :$3,689
I owe $5,700 so it might be $1,500 or so to sell.

I wont have any loans, just two home loans (one main and one rental)

I will have extra money to go dirtbike riding, finish home remodel projects.

Drawbacks:
No annual mexico trips
Finding a beater truck is TBD, my bro might help me out.
No warm truck every morning.
No more car loans, just paying $1k to get rid of my friends car I bought for her

Looks like I will get all the final warranty kinks worked out (seat heaters, etc) and put this thing up for $50k next month.

 

[Blind1]

Isn't un-American not to be in debt!

 

[The Macf]

My truck costs me $1300 a month to operate and I work for the man. My pay is constantly being threatened by liberal weenies.

How much for the lowrance, icom, and power steering?


I wish I was driving right now.

 

[Badgerscab6.2]

Ive gotta say, after snoball 2 is done....Ive been considering parting with mine as well..It is such a badass truck, but the cost of ownership is rough on the budget. I owe about 35k yet and have considered selling out right for around 40k, and using the rest for a down payment on subaru impreza sti (non hatch-back). I dont really off-road that much with it, so its pretty much an expensive street queen, but i need an awd or 4x4 for WI winters... Still up in the air on it, but the more I think about it the better it sounds to just do it..


sorry i hi-jacked the thread a little op...

 

[kawie95]

My truck costs me $1300 a month to operate and I work for the man. My pay is constantly being threatened by liberal weenies.

How much for the lowrance, icom, and power steering?


I wish I was driving right now.

Well, they add up to $1340 new, and the PS is new. The GPS comes with Mexico maps SD card which cost me a bit too, which I will throw in if you want it. Its all in great shape. Radio was only used twice. Hard part will be patching up the hole in the roof from the radio antenna. I'd say I could let them go for $1k including shipping.


-------------------------------

Here's what I am thinking as far as parting out, I could get $4,260 top dollar, probably less:
37" BFG Baja TA KR Project race tires, 95% tread $1,600
17" Method Standard black race rims $400
Volant PowerCore CAI $275
Baja Elite 5m GPS with Outlaw Offroad dashboard mount $400
ICOM VHF Chase Radio w/ antenna $300
Outlaw Offroad Lighting Claws / mount Rigid dually spot lights $150
Cravenspeed Stubby antenna $10
ICON Stainless Steel Power Steering reservoir (unopened) $300
4 extra stock tires/wheels with TPMS, low tread $600
Hennessey velociraptor intake tube kit (with 2 K&N damaged filters and damaged bracket) $125
Hennessey Velociraptor 91 octane tune programmer (option to return to stock) $100

The truck will keep:
Glassworks +2 Front Fenders
Line-X Premium Bed Liner
Dever +2 leaf springs
Outlaw Offroad rear bump stop and frame reinforcement
Outlaw Offroad Spindle Gusset reinforcement
Outlaw Offroad Lower Control Arm Gusset reinforcement
Top-Perch + alignment
Upgraded 2011 heavy duty rear differential (from dealer)
Hennessey 91 octane tune- or- return to stock
OEM Sway bar
Alignment Cams
Stock lug nuts
OEM antenna
OEM intake

I will be out $5,700 in just part depreciation, not taking into account labor costs or installation extras.

I will be out the $10k Dealer Markup fee I paid for the truck

I will be out about $5k in labor for parts/mods/dealer, etc.

I will be out $20k in loan payments (includes down payments, excludes $10k MSRP, includes trading in my 2005 Chevy Colorado)

So basically I will be out $40k, but got to drive the truck for 2 years and go nuts with mods. I also learned to negotiate prices on a vehicle and not to buy on impulse.

I owe $34k, so if I sell the truck without the aftermarket stuff I can take off for $45k and make a few thousand off aftermarket parts, I will have $15k max in my pocket and walk away (best case).

When all is said and done, the Raptor would have cost me $25k for 2 years.

This is all best case scenario math. I am sure it will be less all around, but its a good ballpark.


Raptor Costs Value
msrp $ (52,000)
dealer fee $ (10,000)
Modifications $ (15,050)
Total $ (77,050)


Raptor Debt: $ (34,000)
Total Equity paid to date $ (43,050)

Raptor Value: $ 45,000
Raptor Value Trade In $ 42,000

Cash in hand after sale $ 11,000
Cash in hand after Trade In $ 8,000

Cash in hand after mods 4260

Total Cash in hand after sale and mods $ 15,260
Total Cash in hand after Trade In and mods $ 12,260

Cost of ownership $ (27,790)
Cost of ownership trade in $ (30,790)

 

[kawie95]

Seems like I could get more with my mods than if I parted them out. Maybe I will get some estimates before parting out. $3,500 for all the work of taking everything off and shipping it all over seems like I could just get more keeping it all together and selling it. Thoughts?
$43-$45k stock
$45-$48 w/mods?
Does that seem reasonable?

 

[kawie95]

Detailing it Thursday then listing it, Connor recommended a starting price. Stay tuned in the For Sale section Saturday/Sunday.