Will it last for the long haul?

[Docwagon1776]

Look at a "tradesmen" level trim from 2001, then look at the 2021 tradesmen.

MSRP over the past decade vs inflation is a completely different discussion. New trucks are more expensive then they were 18 months ago because of the pandemic. The MSRP may be the same, but who pays MSRP? Look at incentives and actual sale prices say, 6 months before COVID caused shortages vs now. Actual sales price is currently higher for the same reason used car prices are up. Supply is limited due to a number of factors, including inability to get needed components. Manufacturers don't have to offer big incentives, dealers don't have to negotiate as much.

Research it yourself. See what the average incentive on a truck was for the past 5 years. See what the average length of time a new truck sat on the dealer's lot before sale, which is a very good metric for how much a dealer will negotiate on a given vehicle. See what actual sales prices are and compare to historical averages for the same models. What you'll probably find is actual sales price is up 7-12% on larger SUVs and pickups, less on smaller SUVs and cars.

Then factor in stimulus money inbound and people who can't rub two nickels together normally now have a down payment. I'm well aware of how few people have any cash on hand...but that doesn't matter because they don't pay cash for a new vehicle anyway. They finance it. Interest rates remain very low. You'll be competing against that demand for limited supply.

Now is a lousy time to trade up or buy new unless you absolutely have to. You're buying in a bubble. Once the stimulus buyers are done and supply chains catch back up, demand will be lower and supply will be higher. That will inevitably result in lower actual sales prices on average, regardless of what MSRP does. Even better if gas tops $3/gal in most of the country. Then the barely-can-affords will be dumping their big SUVs and trucks for something they can afford, there'll be a glut of used trucks, and that'll create more competition vs new ones. I'll bet you a cheeseburger and side of fries that actual sales price for domestics full size trucks will be lower in March of 2022 then it is today. Double or nothing that GM starts paying a dividend again before this calendar year is out.

 

[Dr. Righteous]

I say keep driving it
Meanwhile set aside a rainy day fund for the chance that you need to buy something newer.

You can always sell your upgrades on several websites when your truck gives up the ghost.

The 4.7 engine has a flaw, in that they are known to sometimes need a Plenum Pan Gasket
Most people just replace the plenum gasket with a Kit from Hughes

I don't think the 4.7 shares any design with the older MAGNUM engines the 5.2 and 5.9 V8s (318, 360).
The leaking plenum gasket was a problem but generally when the trucks had some years on them.
I fixed a few back then. Did one on a buddy's Dakota. That was a breeze. Did one on the '95 Grand Cherokee we had. That was a PITA since there was little room to work in the cramp engine compartment.