Should I Replace My Truck?

I Own a restaurant and catering company in Baltimore Maryland. We have 4 custom made catering trucks that cost apx. $35,000.00 each. Our oldest truck, a 94' dodge dakota is starting to have alot of problems. The transmission is starting to shift very roughly, it doesn鈥檛 have much acceleration. The hood is starting to rust, I need new ball bearings on the front two wheels, and just yesterday the rpm gauge started acting very weird and somestimes dosent move at all. My question, should I replace this truck with a new truck that will cost $37,000.00, or spend 10,000$ to totally overhaul the truck.

You can view pictures of the truck at:



http://sorrentoscatering.com/s_53.asp



It is the truck with the pink lettering.



ThanksShould I Replace My Truck?
Have you tried to just buy a cab/ chassis truck from the dealer and putting the catering box that you already have on the back of the frame and just making the needed connections for electrical ect.?
I agree with the debt profile recommendation. It may be a good time for you to replace it, particularly if you can get any tax advantages for doing so. Sometimes a new purchase can be far less expensive than it looks like on paper.



With the large amount of work required to the truck, it might be the time to cut it loose! And I'm sure you can sell it for something.



My Range Rover HSE is about to meet the same fate. I love the car, but at 60,000 miles, it has had too many problems for me to keep. I'm giving up on it.Should I Replace My Truck?
Repair issues aside, you should probably talk to your accountant about it first and decide if you want to or can have even more debt. If the old one is paid off, I'd go with repairing it, especially if you think you could get another 5 or 10 years out of it.