How heavies your Heep?
My current towrig is a '04 1500 with the 'little' 4.7. Tows my 3700lbs Scout (and probably 2K trailer) around just fine.
Plenty of power (USE 'tow/haul mode) to scoot down the road just fine and pulled Chinook pass this summer as fast as I wanted to (not much reserve, but it was plenty fast). Faster and more reserved than my f-in-laws 454 1-ton (but its kind of gutless).
Get a wight distributing hitch and use it. Air bags would probably be nice but it work OK as is.
(I have since cranked the bars up a little more)
O-ya, and empty/daily use I get about 15-16 mpg, towing locally I was getting around 12.... not overly bad. Oil changed are cheaper too
If you like the truck, and don't need a 3/4-ton, go for it. Greatest tow-rig in the world, no... adequate.... yes and probably handles and rids better than any old Diesel 1-ton in the same price range.
All that said, would I like a Diesel, YES. Do I tow or would I use it enough to justify it right now.... no :booo:
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