As you can see I have a 2008 CTD MegaCab. It has about 30,000 miles and I've had it a little over two (2) years. It is a wonderful truck.

However, I took a new job and that job gives me a Chevy ex cab 4x4 loaded for work and play(they pay for gas). It will pull my small trailer, but I'd bet not well as it has the 4.8L gas engine.

Since I took the job in October, I waxed the CTD and it hasn't been driven. I originally bought it because we were going to upgrade to a fiver. Now that is out for probably 5 years.

Question is should I keep my paid off CTD for the future or sell it and get a new one in 5 years. Thoughts? I appreciate you thoughts in advance.

Mike

 

I can't see letting a truck sit for 5 years with little or no use. If I was in your shoes I would sell the truck.
But why would you buy a Ford in 5 years over a Dodge?

 

Just kidding about that FERD..........

 

I vote to sell it and drive the "loaner" and burn their gas. That is the same as getting a $5 to $10K pay raise. Put the money from the sale and whatever you save by not driving your truck and burning your fuel in the bank. In 5 years you'll be along way toward paying for a new Truck (Ram). I almost didn't vote because of the Ferd.

 

Thats a tough call. But it is PAID FOR! Your cost now is insurance and tags. If that does not burden you, keep it. If you would rather have the cash, sell it. Its only been three months. You have the luxury of thinking about this a bit longer. You know as soon as you sell it though you'll find a use for it...

 

It will only be a matter of time before they make you park the truck at home or at work. Keep what you have. Take it from someone who lost their company truck. You would be in a mess if and when it happens. Besides, if you use the company truck for personal use, that is taxable income if you didn't know.

 

I think I would hang onto the truck until I was sure I liked the new job, they liked me, and the economy was a little stronger. Some employers are very worried about their company's future and what tomorrow might bring to them, very unsteady world out there right now. If you lost your job, you'd loose the truck, then what? If the economy tightens up, getting financing might be a big problem, there is a lot of deflation/inflation speculation right now as well. I'd give it a little more time before I made any decisions.

CD

 

That company truck you have is your companys leaverage against you. Your leavarge against them is you don't need their truck for personalle use. Trust me most of the guys I work with who are supervisors have a company truck and I will say 99% of them pay taxs on that truck but require that truck on days off. But if they get a speeding ticket, seatbelt or a driving complaint etc they loose their truck for days off. That would suck if your going for that camping trip and need your truck.

Keep your Dodge, park it use it on days off once in a while to keep it running.
Then your company does not ave the carrot over your head all the time.

 

Sell it that, girl wants to be loved and driven!

 

Sell it now before new 2010 models flood the market and your 2008's value takes a nose dive!

 

I say keep it.

Some good points where made about company vehicles. No telling what the future will bring and how the company will treat company owned vehicles. I have a relative that has a vehicle with his company, and it got so restrictive he couldn't use the vehicle (a car BTW) for personal use nor he could carry his family in it. Business use only.

MikeyB

 

That's a tough one to answer when we don't know your true financial situation. If it were me, and I felt fully comfortable with my new job, I'd do as was already posted and sell it then put the money away for when you need to replace it. Now, If you can't sell it for a good price then I would say keep it instead of "Giving it away". It's tough to get a good price for a vehicle these days...

 

IMO its financial suicide to keep it if its not going to be used.
Its deprecating 3k a year just sitting there, if in a couple of years you find you need one buy one then. Its only a truck and there are many good deals on them.

 

I'd tow the trailer a couple of times before I decided anything. That 4.8 might not pull it well at all. Also, I'd be real sure that you're allowed to use the co vehicle for personal use. Most all co vehicles that I've had carried some real restrictions on how they could be utilized personally. There's even a rule that if you use a company vehicle for personal use you have to pay taxes on the value it provides you. Just something to be aware of.

 

I would keep what you have, and drive the company truck for work, and yours for personal. You get to keep your paid for truck, you still are using it but cutting back on the miles, you have the power to pull the trailer, and you have the security in a time when no jobs are guaranteed. It may cost to keep it, but you may lose more by selling and buying later. Since it is paid for, I would keep it and enjoy it. That is my two cents. Thank you for asking. It makes me feel important.