Price confusion vs blue book value?

[Number21]

I'm looking for an 01 or 02 2500 with a Duramax. The bank says they will only loan me 80% of the blue book value for trucks over 100,000 miles, which is what I want.

I'm trying to keep it under $15,000 for a 2500HD with about 150,000 miles and a Duramax. According to Kelly Blue Book, those are worth about $8-12,000 on the high end. According to craigslist, they are worth $15,000!

I just looked up a short bed extended cab that I like with 140,000 miles. They are asking $13999, KBB says $11,000 in excellent condition.

What is with the big discrepancy in the price? Do the diesels add that much of a premium? Are they extra high in my area for some reason? They seem to be pretty common. I don't understand, I'd be happy to pay the KBB high price all day long!

[thelonerife]

I'd check to make sure you have all the options clicked when doing it. If you have all the options checked and its still a big difference just offer less. My bank goes by NADA prices.

[clinebarger]

Diesel trucks are in high demand, Especially "Pre-Emission" trucks that are in good shape with lower mileage.

The '01-'04 LB7 Duramax engines have Injector issues, Do research on this issue before buying an LB7.

[Number21]

Originally Posted by clinebarger

The '01-'04 LB7 Duramax engines have Injector issues, Do research on this issue before buying an LB7.

Yeah, that's starting to scare me. Is there anything specific I should check with the injectors before I buy? If they have been recently replaced, does that make everything "ok"?

[AMERICAN PICK-UP]

Originally Posted by Number21

Yeah, that's starting to scare me. Is there anything specific I should check with the injectors before I buy? If they have been recently replaced, does that make everything "ok"?

i drive gas burners. 6.0 trucks are more common. and a whole lot cheaper. if you need big power look at some 8.1lL trucks they tow alot and are half the price of a duramax.

[MadManAndrew]

I have an '02 CCSB LB7. I bought it two years ago for $7500; asking price was $14000. I don 'to know why everyone asks so much for them, but they don't actually sell for near that much. On the injector issue, it's not really something to be scared of. The problem is injectors go out on LB7's just like they do on any other vehicle, but they're a lot more labor intensive to replace. An independent shop will charge you $2000-$3000 to replace them, so if you can save that amount up and just keep it in the bank just in case, you'll be covered. Your only other real option in your price range is to settle for a crappy dodge interior wrapped around a Cummins. You do not even want to mess with a 6.0L Ford.

Oh, for reference, my truck has 282k miles and has had a radiator, AC compressor, and one set of injectors. Runs like a top.

Also, check out dieselplace.com for Duramax talk.

[Number21]

Originally Posted by AMERICAN PICK-UP

i drive gas burners. 6.0 trucks are more common. and a whole lot cheaper. if you need big power look at some 8.1lL trucks they tow alot and are half the price of a duramax.

Yeah...I was just thinking last night I could probably supercharge an 8.1L for cheaper than a Duramax. I need gas mileage though...my 2 mile commute just jumped to 22 miles. Can't do the 9mpg on premium that my '73 does anymore.

I'd really love to have a cummins engine, but I really don't want a Dodge. (or a Ford) I'd probably jump on a nice square body with a cummins if I saw a good one for sale.

[Number21]

2002 with 206,000 miles...is that too many? I could probably get it cheap enough to buy new injectors. (if the time comes) I understand they will go much more than that, but I want something that is extremely reliable.

Would that many miles scare you?

[clinebarger]

Originally Posted by Number21

Yeah, that's starting to scare me. Is there anything specific I should check with the injectors before I buy? If they have been recently replaced, does that make everything "ok"?

The original injectors were bad about the body cracking & "Ball Seat Erosion".
The Bosch Reman's have upgraded Bodies....Which most LB7's have had by now, Ball seat Erosion is still an issue....An Fuel Air Separator (AirDog/FASS) fuel system will help with this.

The MAIN problem is When a Tech or Owner does change them.....They Contaminate the new injectors, The Entire fuel system from the filter to the injectors needs to be replaced save for the CP3 high pressure pump. The work environment needs to be CLEAN, Pressure washing for 2-hours & Draping plastic like your going to paint the truck type clean!!

Originally Posted by Number21

2002 with 206,000 miles...is that too many? I could probably get it cheap enough to buy new injectors. (if the time comes) I understand they will go much more than that, but I want something that is extremely reliable.

Would that many miles scare you?

If its bone stock & doesn't appear abused.....200,000 is half of what it should go.

My '06 LBZ has 291,000 miles on it, Belt, Idlers, Tensioner (twice), & Several Glow Plugs, that it! Lot's of maintenance though.

[69gmcc10]

I am an office manager for a small lending company and back to your original question about price difference from kbb and real wold prices is a common problem.

1) Most (not all) lending institutions use NADA and not KBB, usually not a big difference in values, but some, so keep an eye on both values.

2) The books reflects the average selling price of a vehicle, meaning half the people in your region paid more and half paid less than the price in the book.

3) A duramax of that generation adds 3500 to the price of a truck

4) The prices you see listed on craigslist and anywhere else are asking prices, and usually listed with negotiation in mind. If you want to get to the book value you need to find a truck you like and negotiate down to a price you are happy with. You ultimately need to be happy with the price and willing to make up any difference the bank isn't happy with if there is a difference.

Hope this helps in giving you more info and confidence when you go to buy vehicle.

[Number21]

Thanks for the info everyone! Do you think I should have a mechanic check it out before I buy? I am mechanically inclined, but I know absolutely nothing about newer diesels...

[MadManAndrew]

Originally Posted by Number21

Thanks for the info everyone! Do you think I should have a mechanic check it out before I buy? I am mechanically inclined, but I know absolutely nothing about newer diesels...

Your average mechanic is just as clueless as you are.

[Number21]

Originally Posted by MadManAndrew

You do not even want to mess with a 6.0L Ford.

Care to elaborate? The GMC I went to look at today was a beat up POS, but the F350 with the 6.0 I test drove was sure nice. I want a Chevy so much more, but there aren't a lot in my price range and the Fords seem to be everywhere! The one I looked at had a new head gasket and EGR block off...and it's $2500 cheaper than I have to spend!

Scare me out of the Ford!

[clinebarger]

Originally Posted by Number21

Care to elaborate? The GMC I went to look at today was a beat up POS, but the F350 with the 6.0 I test drove was sure nice. I want a Chevy so much more, but there aren't a lot in my price range and the Fords seem to be everywhere! The one I looked at had a new head gasket and EGR block off...and it's $2500 cheaper than I have to spend!

Scare me out of the Ford!

DO NOT buy a 6.0L Power Stroke, You will regret it! Ford sued Navistar over 6.0L warranty claims.

[MadManAndrew]

Yes, the problems with 6.0L Fords are just unavoidable. From EGR, to injectors, to heads, to whatever else kept breaking on those stupid things... Warranty repairs on them cost Ford millions, and there was never a "fix", it just gets repaired over and over again. This is not brand discrimination here, this is the well known horrible reputation of the 6.0L Ford.

There's a reason you can find 6.0L Fords for sale everywhere but have to look for Duramaxes. People don't WANT to sell their Duramaxes.

[clinebarger]

The 7.3L Navistars in 99-03 Super Duties are very good engines, I'm not a big fan of the HEUI injection system, But the parts are not that expensive.