I have an '04 F-150 FX4 (5.4L 194k) that, was by own admission, improperly maintained. It is having issues, as expected. Some are minor (driver door doesn't look automatically when button is pushed or put into gear), to more serious (pre-ignition, excessive oil consumption, P0420 CEL code).

Is it more worthwhile to rebuild the engine and maintain it much better and last another 10 years (hopefully), or just start over with a new vehicle and have a car payment for the next few years?

I prefer to rebuild it and have no car payment, but I also know the A/C will eventually go out and the tranny will need to be looked at soon.

 

If that is the only issue, sure, rebuilt it with the knowledge that the tranny may be near it's end, too. Even three years of $300/mo payments is almost $12K. That's a lot of money to put towards repairs, which likely wouldn't amount to half that with a rebuilt engine and trans. Add to the fact that getting another used vehicle could have it's own set of unknown problems.

Sure you can go new, but most trucks are $25K+ now, so you could replace about every major component on your truck for that price.

 

Yep, those are the only issues that I know of. I appreciate your input.

 

With a P0420 and oil consumption, it's also gonna need new cats.

 

Yep, that I am aware of, but I don't have the money to buy OEM. I would have to go the direct fit aftermarket route.

 

If you are up for doing the work, go for it. I myself would kick it and get something newer, and keep trading up as time goes on. Working on a project all the time isn't for me. Would rather drive it and generally maintain it.

 

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No, I don't have the ability to do it myself. It'd have to be sent off.