Money Pit or Worthwhile investment ???

[TheMightyThor]

So a month ago I decided to buy my 2000 expedition 5.4 4WD.. 132,000 miles

I felt the condition was excellent onside and out, tiny bit of rust on the lower doors and on the inner edge of the wheel wells which i am in the process of handling... I paid $2950 for it and since getting it a month ago have put over $2000 into it as far as shocks, odds and ends like a bad mirror switch, ambient air sensor, broken sway bar link, spark plug replacement etc.. I am also in the process of putting another 12-1300 into it having the front end rebuilt since its squeaking and I figure i may as well be premptive and replace stuff thats going to be going eventually.. basically in 2 months time I will have put just as much money into this thing as I paid for the truck. Granted alot of this money is labor because I just dont have the time/ability/tools to do much of this stuff myself.

, I love this truck, it suits my needs for my band and my family and I'm a big dude so it is just perfect for me..
I feel like if I had spent $5-6000 on something newer in similar condition I would have still had to do all that I did to this one, maybe not the shocks but who knows.. I looked at a few trucks that were newer and alot more expensive and I didnt find them to be anything special over the one I bought...

If this was a hyundai or a little car I would tell someone who is spending what I have and will be on this truck that they were crazy. but I dont think I am.. I feel like these trucks ( engine and transmission ) were built to last for the most part and putting another 150 -200,000 on this is not a crazy thought...
and I see it as longevity... if I add up all I ever spend on this truck from purchase price to repairs to cool things I buy for it and I have it for 5-7 years, if I do the math I feel like I throw away more money buying a new truck due to the massive amount of depreciation especially on 8 cylinder vehicles... I feel like I am making a great decision with this truck... am I crazy ???

 

[FordandPolaris]

You are making a worthwhile investment for sure. Mine is nearly at 230k on original motor and trans, my aunt has a 98 at 270k on original motor (think it might have had some trans work) and countless other 97-02's that are running forever. I'm sure it sucks putting all this money into the truck now, but once you get the big stuff out of the way you will have a very solid vehicle.

Like you said, a lot of it is labor which can really sink a ship, but you are pretty much done as far as the big stuff goes. I will say I would check your rear control arms. They tend to rust out really bad. Hate to add something to your list but if those break that would be bad.

If and when I decide to buy another truck, its going to be an expy or F-150 from 97-02. Just seems like solid years for trucks.

 

[bedrck46]

If I recall you don't do you own work. So that tends to add to the cost of replacing parts. Look at it this way you have an older Expy with low miles and with all you have done so far you should get many more years out of it. And also with all you have had done you should now be at a point to do just normal maintenance. GOOD LUCK with it I think you made a good decision

 

[TheMightyThor]

yeah, Today I was outside dealing with some rust issues on the inner lip of the wheel wells... one side is real bad, the other not so much, so on the easy side I simple sanded away the rust, primed with rutoleum primer and sprayed with gloss white rustoleum ( which is a very close match ) The body shop is painting fender flares I picked up on Ebay so you wont even see my work anyway...

the bad side is sanded and wire brushed and i have Rust Mort on it doing its work... tomorrow I will fill in the gaps that are there with JB weld then that too will be sanded and painted with the rustoleum... again all work will be covered up with the fender flares which will hide the areas and i will be sealing the flares with seam seal so no water gets inside of them ..

I also wire brushed 2 of the lower doors which I will really get down with next weekend but I did treat them with the Rust Mort also, those areas too will get sprayed with the rustoleum and its an area I dont really worry too much about perfect match down there anyway since its inside... the outside edge needs some work too but I'll cross that bridge when I come to it....

I am having fun with this and I have checked out those rear control arms, the rear lowers look great, solid and can still see their color (I black ) really no rust... cant see the uppers too good but will check them out next oil change when its up on the lift

 

[vigman]

It's a truck... it's needs repair.. it's not an " investment " you won't make your money back..BUT it will haul you around..after the needed amount of work it will be reliable..
There are a TON of em out there, so parts are plentyful. The payback is a safe ride from point A to point B....

 

[TheMightyThor]

of course I dont mean " investment " in the traditional sense... I mean investment like being worth it in the long run... the payback being an awesome truck that is reliable, nice and road worthy for the next few years...

 

[BAD RONALD]

of course I dont mean " investment " in the traditional sense... I mean investment like being worth it in the long run... the payback being an awesome truck that is reliable, nice and road worthy for the next few years...

There are as many answers to your question as there are members of this board. Doesn't matter what the opinion is here, you can only decide this for yourself.

Go ask any guy who turns in a lease every three years to see what he thinks about maintaining an older vehicle. Do you suppose his reaction will be different than that of a DIY forum poster?

 

[vigman]

To answer your question.. I just REFUSE to buy new, the economics do not work for me.
Every Ford vehicle I have owned, once back into " trim" with all previous owner's stuff being repaired PROPERLY.. will just not die.. they just keep on going & going.. As many members here are doing the same as you.. I think you made a good choice. I have more ( as a rule ) breakage of plastic exterior parts then engine/ drive train problems ( said the man who had a milkshake in his transmission last week ) .....I just unloaded my 91 Exploder with 198K still running like a top ( but was in need of front end bushings ) beacuse 2 window mechanism's broke on the drivers side... within a week,, that was the sun bake side of life in SUNNY So Cal.... I hate plastic parts!!!