New Diesel Truck-- Buy Now, or Wait?

[D&D]

That retirement age is a thing of the past. The 401k system is failing to even come close to replacing pensions. As the median balance at age 65 is not even enough to cover healthcare costs, let alone living costs…

I hate to burst the SocSec won’t fail bubble, but by 2034 just the interest on the national debt is more than the sum of all federal income tax. So to balance that budget that means no other spending on anything. No military, no gov’t workers nothing. All our taxes just to pay interest on debt…

Back on topic, save your current truck, mine has 350k miles on it. I love it more than the day I bought it. I bought another vehicle and now only use the truck for towing or loads.

My guess would be the 401K system is failing because the employees fail to put their full share into them. If you consistently put only 150/month @ 4%, after 30 years you’d have a little over 100K. Too many people rely on something/someone else to get by. What’s really more important, going out 3 times less in a month or building a little personal wealth?

 

[stumblinhorse]

In 2034 Social Security will be paying out only 77% of what a person should be getting. They WILL NOT be totally out of money. That's if Congress keeps sitting on their butts and not fixing it.

At least that's what the financial advisors are saying. And I hope they are correct, 'cause I intend to live for another 30 years, not just 10!

I’ll quickly explain what they are saying.

In 2033 the trust/fund runs out of money. Then only current payroll deductions will be paying out to retirees. That is “estimated“ at this time, to only cover 77% of the current benefits.

I don’t have to tell you what will happen when people are told, maybe they will understand what that means. Their “tax“ is simply coming in one door of the government and out the other to pay retirees… Not sure they cooperate after that.

 

[DarkBlack]

I’ll quickly explain what they are saying.

In 2033 the trust/fund runs out of money. Then only current payroll deductions will be paying out to retirees. That is “estimated“ at this time, to only cover 77% of the current benefits.

I don’t have to tell you what will happen when people are told, maybe they will understand what that means. Their “tax“ is simply coming in one door of the government and out the other to pay retirees… Not sure they cooperate after that.

We have some politicians who want to raise the minimum retirement age even higher. A lot of people die before the even make it to retirement.
Funny how we don’t have enough $ for our own retirees, but we always have endless $ to send to foreign countries on the other side of the world to blow each other up.

 

[Hay Dude]

We have some politicians who want to raise the minimum retirement age even higher. A lot of people die before the even make it to retirement.
Funny how we don’t have enough $ for our own retirees, but we always have endless $ to send to foreign countries on the other side of the world to blow each other up.

Yeah….,you wonder what 90 billion could do for our own citizens…
Think infrastructure, border security, national security, etc.

Eh, screw it. Give it to the Ukraine war…

Me? I’d go with a new truck in the early summer. I think there might even be a few ‘23 leftovers that could be had “cheap”.

 

[BlueKnife]

Maybe avoid the high cost of a new truck? But still, at 250k miles, much could strand me on the side of the road over Donner Summit. My GMC 2500HD has the original everything-- water pump, oil pump, power steering pump, alternator, etc. Been a good vehicle.

You could replace every moving part in your pickup with new and not come close to the cost of a new one. I'd keep driving the one you have.

 

[Snobdds]

That certainly would make a difference.

I just looked at my records, I paid in $133,000 and it took 68 months to get it back....I retired at age 51.

There is a reason pensions went away.

However I'm curious how a pension that stopped funding at 51 can keep up with inflation in '24? I'm an actuary, so I like to hear real life feedback on the old system to see if it keeps up with the times, or does a market based approach win out. Certainly the numbers from the stock market (401K) over the past 20 years far outpace bond returns (pensions).

 

[ponytug]

I too have heard a lot of good things about the 7.3 gas engine from Ford. All the early problems have been corrected and it is very dependable.

However......if you are still going to be towing 10,000 lbs over Donner consistently you are going to want a diesel with an exhaust brake. At Donner's elevation that gas 7.3 won't be nearly as powerful, and going back down the slope you'll be riding the brakes because, good as that 7.3 is, it can't hold back all that weight as well as a diesel with an exhaust brake.

Can you suggest particular diesel engines for pickups that have Jake brakes? I looked a decade ago did not find any that were factory. Non-factory gets into multiple cans of worms for many folks.

I am a very pleased with performance of my the tow/haul mode on my gasoline powered automatic transmission. Plus it is much quieter than an engine brake.

All the best,

Peter

 

[Hay Dude]

Can you suggest particular diesel engines for pickups that have Jake brakes? I looked a decade ago did not find any that were factory. Non-factory gets into multiple cans of worms for many folks.

I am a very pleased with performance of my the tow/haul mode on my gasoline powered automatic transmission. Plus it is much quieter than an engine brake.

All the best,

Peter

I think you can add Jakes to the Cummins diesels.

Honestly, todays exhaust brakes combined with transmission downshift management are incredible. My 2020 Cummins will slow 45,000lbs down without using the brakes except for the final 10MPH to a stop. And they are very quiet.

It’s routine for brakes to last 100,000 miles and more now on the newer trucks.

 

[34Willys]

An exhaust brake and a Jacobs/engine brake are very different, and I doubt you could just 'bolt on a jake brake.
Patrick

 

[ponytug]

I think you can add Jakes to the Cummins diesels.

Honestly, todays exhaust brakes combined with transmission downshift management are incredible. My 2020 Cummins will slow 45,000lbs down without using the brakes except for the final 10MPH to a stop. And they are very quiet.

It’s routine for brakes to last 100,000 miles and more now on the newer trucks.

I completely agree with you on the capabilities of the current generation of transmissions. Just amazing performance.

Thanks for the Cummins tip. I checked Ram's build pages and I don't see the Jacobs engine brake option listed on their site, is it a hidden dealer specified option or is it on every Cummins in addition to the turbocharger AGV braking? I do know that their variable gate turbo design does provide some engine braking assistance when it decides to turn on. I see that it gets good reviews in its Auto mode.

To @34Willys point, Cummins does list a Jacobs brake that can be used in addition to the stock AGV brake. Yes, very different in hardware, and, I think, different in the impact on the engine.

All the best,

Peter

 

[plowhog]

It’s routine for brakes to last 100,000 miles and more now on the newer trucks.

My GMC 2500HD had its first brake job at 140,000 miles. Even with my history of towing. Definitely from having an exhaust brake, which was factory on the 2011 model.

When I test drove the 2011 GMC I didn't know such a feature was available. But .... there it was!

I'm kicking around what was suggested above-- changing out the "moving parts" for better reliability but pressing forward with adding more miles.

It was suggested that changing the "moving parts" would be cheaper. As long as you don't count my wife getting in and out of the passenger side as a moving part. Changing her out would get costly-- maybe fleet or dealership levels of trucks.

 

[plowhog]

Checked a Ford dealer in Reno NV. They are adding a $5,000 premium above MSRP even for a gas engine.

$82,600 and its not even a King Ranch.

My how things have changed since I bought a truck ...

 

[CloverKnollFarms]

A buddy of mine just bought a new F250 diesel... For about $100k... Yeah, he makes about $250k per year, but so do I, and I cannot fathom dropping that coin on a vehicle unless that vehicle makes me money. Substantial money.

I guess this is why I can retire at 48, and most people, even high earners, can't. I can't get the dairy farm mindset out of me.

 

[Hay Dude]

I completely agree with you on the capabilities of the current generation of transmissions. Just amazing performance.

Thanks for the Cummins tip. I checked Ram's build pages and I don't see the Jacobs engine brake option listed on their site, is it a hidden dealer specified option or is it on every Cummins in addition to the turbocharger AGV braking? I do know that their variable gate turbo design does provide some engine braking assistance when it decides to turn on. I see that it gets good reviews in its Auto mode.

To @34Willys point, Cummins does list a Jacobs brake that can be used in addition to the stock AGV brake. Yes, very different in hardware, and, I think, different in the impact on the engine.

All the best,

Peter

I should have been more clear. Aftermarket add on. No pickups have a factory Jacobs brake.
The turbo exhaust brake on mine is much more effective in “full” mode than “auto” mode.

 

[deserteagle71]

Can you suggest particular diesel engines for pickups that have Jake brakes? I looked a decade ago did not find any that were factory.

Peter

I believe that all 3 (Ram, Ford and GM) provide exhaust brakes in their newer diesel pickups so it doesn't matter which brand you choose. Not sure whether the exhaust brake is standard equipment or an option. From what I've been reading they are very effective.

 

[Hay Dude]

I believe that all 3 (Ram, Ford and GM) provide exhaust brakes in their newer diesel pickups so it doesn't matter which brand you choose. Not sure whether the exhaust brake is standard equipment or an option. From what I've been reading they are very effective.

Mine has the 2 settings “full” and “auto”. It’s basically a 2 stage exhaust brake “auto” being less brakes and “full” being more severe braking.
Couple guys I know that have older trucks said they ran theirs on “full” all the time. I followed their advice and run mine on full all the time too when towing. Service brakes barely get used.

When empty, I will run auto or full depending on how much stop & go there is.

My IH-7500 has a 3 stage braking set up where the exhaust brake is linked to the Allison transmission. The higher the stage number on the exhaust brake you chose, the more rapidly the truck downshifts as soon as you start slowing down.

A Jacobs brake is an internal engine brake system.

 

[hiddentacocatneddih]

I dont think the b series cummins for trucks ever had a jake brake. The 8.3 maybe but that only came in medium duty trucks and up

Imho with modern trucks. You either keep an old one and work on it. Or buy new and keep em in warranty

I dont drive it regularly but I plan to keep my 06 ram till diesel isnt available at the pump or I die.

 

[tradosaurus]

A buddy of mine just bought a new F250 diesel... For about $100k... Yeah, he makes about $250k per year, but so do I, and I cannot fathom dropping that coin on a vehicle unless that vehicle makes me money. Substantial money.

I guess this is why I can retire at 48, and most people, even high earners, can't. I can't get the dairy farm mindset out of me.

Retire at 48? You must not have kids and have a wife earning money.

 

[CloverKnollFarms]

Retire at 48? You must not have kids and have a wife earning money.

2 kids. One is through college, the younger is 14 and in college, which we have already funded. Wife hasn’t worked outside the home in 20 years, but just got into real estate… so yes she will be working outside the home soon.

Our retirement savings are already saved. College is paid for. No debt whatsoever. So we are really just living life until I’m 60 and can reap the reward of those savings. We would be in a different position had we not been good stewards of what we were blessed with.

 

[deserteagle71]

the younger is 14 and in college, which we have already funded.

Skipped high school????