Farmer 5500
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My accountant and I were discussing the need for a depreciation write off this year. I have some depreciation recapture from selling some company equipment (dump truck) in under 5 years. My current 2020 Ram 5500 is fully depreciated and paid off.
Some of the reasons to sell 2020:
1. Will need 6 new tires in next 6 months ($2,500+)
2. Fully depreciated & paid off for a year.
3. 2020 has enough power, but would enjoy the bump from 800TQ to 1075 TQ
4. Aisin 6 speed has been fine, but ZF 8 speed looks to be an improvement.
5. Warranty expires in 2,500 miles (currently have bumper to bumper 7yr/75,000mile warr). Can extend warranty for $3,500.
6. Sounds picky, but mirror don’t power fold and we have very narrow back roads. Really annoying. Could be retrofitted for ~ $1,200.
7. New truck will have 10yr/100K warranty.
Some reasons to keep the 2020:
1. No mechanical or major/minor issues
2. Looks very good for 6 years old
3. Has winch bumper & 25 K Sherpa winch that would have to be removed and installed on 2027 truck. Unknown if bumper will fit 2027.
4. Only has 73K miles on it. Still very tight & strong.
4. Has EBY Aluminum HD bed installed and it still suits my needs pretty well.
There’s probably other reasons to keep/sell I haven’t listed, but those are the first that come to thought.
If I install new tires, extend warranty and install power-folding mirrors, I’d have to spend about $7,500. That could be a partial deposit on a 2027.
New truck looks like it’ll be $95K equipped the way I want. I haven’t nailed down a potential selling price for my 2020, but $40,000-$50,000 looks to be a starting selling price range.
Some of the reasons to sell 2020:
1. Will need 6 new tires in next 6 months ($2,500+)
2. Fully depreciated & paid off for a year.
3. 2020 has enough power, but would enjoy the bump from 800TQ to 1075 TQ
4. Aisin 6 speed has been fine, but ZF 8 speed looks to be an improvement.
5. Warranty expires in 2,500 miles (currently have bumper to bumper 7yr/75,000mile warr). Can extend warranty for $3,500.
6. Sounds picky, but mirror don’t power fold and we have very narrow back roads. Really annoying. Could be retrofitted for ~ $1,200.
7. New truck will have 10yr/100K warranty.
Some reasons to keep the 2020:
1. No mechanical or major/minor issues
2. Looks very good for 6 years old
3. Has winch bumper & 25 K Sherpa winch that would have to be removed and installed on 2027 truck. Unknown if bumper will fit 2027.
4. Only has 73K miles on it. Still very tight & strong.
4. Has EBY Aluminum HD bed installed and it still suits my needs pretty well.
There’s probably other reasons to keep/sell I haven’t listed, but those are the first that come to thought.
If I install new tires, extend warranty and install power-folding mirrors, I’d have to spend about $7,500. That could be a partial deposit on a 2027.
New truck looks like it’ll be $95K equipped the way I want. I haven’t nailed down a potential selling price for my 2020, but $40,000-$50,000 looks to be a starting selling price range.
