$11,000 is a good price. People are paying that much just in fuel system repairs on the newer trucks, that by themselves cost $60,000.
There are some first hand reports of the 7.3 psd accummulating over a million miles, with quite a few more reporting in the 700K to 800K mileage range, as read on the numerous powerstroke diesel forums.
And those many forums are another advantage to having the "tried and true" 7.3L, as there is a HUGE amount of information available about every nuance of this engine, of which over 2 million were made in this country, and untold more manufactured in Brazil. It is an iconic engine, with spare parts and repair parts expected to be available for as long as diesel fuel is available to burn in it.
Reading the woes of 6.0, 6.4, and now 6.7 liter owners keeps me thankful to have the much simpler to own and maintain 7.3 liter. Rather than travel 5 hours away only 5 minutes faster with a newer engine, I'd rather be able to get there period, rather than waiting 5 weeks for a cab off engine repair, as so many owners of the later engines lament about.
Even if you spent another $3,000 in repairs the first year of owning your $11,000 truck, that is still only half of the tax and license fees alone on a new truck, never mind the interest should you chose to finance.
I don't think I would be intrested at $11,000? There are many choices out there at varible prices. Increase your choice requirements. The 7.3 is far from the holy grail. The truck is below average also.
The 7.3L isn't the holy grail, as there is no holy grail; yes, even the mighty Cummins and Dmaxes see the service bays now & then. A good friend is a diesel mechanic, so I tend to listen to his opinion a bit more closely than the blindly loyal fanboy sect on the net.
The truck is below average? What are you basing that on, the fact that they often require ball joints & tie rod ends @ 100k miles?
Using your logic they are ALL below average; the perfect truck hasn't been made yet.
Honestly the 7.3 was dated throughout its production run. Calling the 7.3 auto a slush box would be a complement. The frame is Swiss cheese and front suspension never worked correctly. Spend you money on what you want. The only reason the 7.3 have any resale is because of Ford's continuing failures with their diesel programs.