Need Advice: '03 Z71 rebuild vs '15/'16 new

[BU-Z71]

Just registered to this forum as a way to educate myself and seek advice/guidance...

Here's the situation: I have a well-loved '03 Z71, purchased new and has ~214k on it. Haven't had much problems with it outside of the normal wear and tear, and when those issues came up I fixed them (just did new breaks, damn AC actuator). She feels like a old pair of boots, but I'm thinking about the future and am debating replacing the engine/tranny (when it comes time for it -- thinking I could get up to 250/75 miles on it) or look to trade up and get a new '15 or '16.

I have about $40k saved up and can put that toward a new purchase, then get a loan for the remainder and pay it off in the next few years following -- OR -- I can put, what I'm estimating at ~$15-18k into a engine/tranny (thinking crate, not rebuild) and keep what I personally think is a better looking truck than then newer ones.

The body of the '03 is in good shape -- a few dings, but nothing major. I live in Georgia, so no rust from salt. Inside is decent as well, few blemishes on the dash, and a couple of lights are out under the buttons. Heated seats don't work anymore, but whatever...not really needed where I live.

If I did the engine replacement route, I may even look to put in a little more $$ to upgrade the radio and have a rear camera/nav installed -- just to give it a little more modern feel inside the cabin. May even take it to a body shop and remove the dings and give it a polish and clear coat.

At the end of the day:
Option A) invest some $ to roll back the clock on the '03 and continue to use her as a reliable, daily commuter

or

Option B) sell her and get a newer model (will push the wife for another Z71) and run the new purchase for another 12-15 years...

Figured a forum like this would have some who went through/are going through the same situation and would understand my sentiment toward the '03.

With that, let the comments/suggestions roll in -- as well as any suggestions as to what brand/type of an engine/tranny combo and other upgrades I should look at if I go the "keep" route. (Note: I wouldn't do the work myself -- would find a reputable pro to do it)

Thanks in advance.
BU-Z71

 

[jp.maritz]

In my opinion if the 03 is to that point I would invest in a new Z71. With that said I would do a Black Bear tune to eliminate the active fuel management "it screws the motor in the long run" from the get go and run synthetic oil from day 1. This way you will see many good years of service... Nobody really want to spent $$$ on a new truck but if you drive it past 200 000 miles it makes good sense to me


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[yates ™]

Depends on how long you want to keep the 03 and how much more you're willing to invest towards future problems. With the 03 is money you will never get back but if keeping for another 10 years it wouldn't be a bad investment.

With a 15 you would have warranty, new parts, etc. but no guarantee you will not have to pay for for future problems there either.

If you dislike the looks of the new SUVs I personally wouldn't spend that much on one because you will likely never like it but who knows.

 

[BU-Z71]

Yeah, if I do the engine redo on the '03 I would plan to keep it for many more years -- at least 5-10.

 

[yates ™]

5-10 years for a $20k investment would not be bad at all but I would look it over or have it looked over to see if any other costly items could be an issue.

 

[BU-Z71]

Pretty much what I'm thinking too Yates(tm). I could then put the additional savings toward other uses vs a depreciating item as I drive it off the lot -- the body/interior is in great shape, so I'm leaning toward the engine remodel. Just not sure what all that would entail. My plan would be to take it into a shop and have them look it over and get me a better idea, as you suggest.

 

[07Burb]

I'm with Yates on this, as well, especially since you stated you're not real fond of how the new SUVs look anyway. If you like your 03 and all things considered it's in pretty good shape then I'd invest in it and keep driving it especially if you would plan on keeping it for another 5-10 years after the investment is made. There's not sense in unloading the 03 to go spend big bucks on the new stuff if you're not going to like it as well.

 

[southboundchicken]

I spent around $2500 on a gm crate tranny on my 02 z-71 pickup installed when the motor blows im gonna put a crate motor and most likely do it myself to save labor cost so whats a crate 5.3 going for these days ??? I spent about $3000 for the crate 350 plus misc. gaskets and other related parts when i did a motor swap in my old 98 z-71 so i figure about the same for a 5.3 maybe a little more ?? So i expect to have much less than $10,000 invested between motor and tranny when all is said and done, $15,000 for new motor and tranny sounds high to me

 

[Rocket Man]

I personally think the amount of money for a new rig is crazy these days. And like you, I love the look of the NBS. Not so much for the new models. If it was me, I'd invest in what you have and maybe budget for some nice upgrades to make it seem somewhat new. I completely restored the interior of my '02 Denali so it looks like new, added a nice DD stereo and replaced every light with LED and HID. It felt like a good investment, especially considering the price of a new one.

 

[Fosscore]

I'm with the rebuild boys. I love my 06 NBS. Mine's just a baby at 73k, I have no payments, lower insurance premium and room for mods and preventative maintenance. If you love what you are driving and can see yourself driving it to justify the rebuild cost, do it rather than chucking your savings to have an undesired depreciated vehicle that you already are not impressed with from the onset. Good luck.