Keep or buy new advice ...

I'm thinking about a keep or buy new situation and wanted to solicit opinions one way or another (the pros and cons to be considered as it were). Based on the idea that there is good advice here and that all of us are smarter than one of us I wanted to see what everyone thought.

My 2005 Tacoma has about 55,000 miles on it. It has had the frame replacement and I have rustproofed it with a local guy (a very nice guy) who has an interesting approach and product so all looks good there even though I am in New York (see: http://rustoration.com/about-us/).

In the last 18 to 20 months I have put on a new exhaust system, replaced the AC unit, put in a new alternator (it died), added a new battery and recently had to put in a new catalytic converted (ouch!). I don't blame the Tacoma for that -- these are mostly issues with wear and tear when you have a 2005. Otherwise the truck is in decent shape.

Question 1: What do we think a truck like this is worth if I sell it ? Interested to hear people's thoughts on that. (I know I overpaid for the truck and I fine with that.)

Question 2: Looking for arguments on why I should keep it or sell it and get a new truck. I'd like a little more room and, frankly, a little more comfort and modern tech updates.

Looking forward to hearing everyone's inputs ...

 

Why do all that work only to sell it? They hold their values but replacing maintenance items and adding modifications to it doesn't increase the value anymore if at all.

 

Because I'm dumb ! But, seriously, things went wrong over time and I replaced them as needed. It was only today that I sat in a new truck and was thinking I really like this -- it is more comfortable -- and so maybe I should sell. I am not firm in that so I wanted to gather some opinions one way or another.

 

New payment, new insurance rates, new problems/warranty/tab issues (gamble), new sensors that give false warnings or fail (expensive stupid sensors) those are a few things to look at.
Vs
Paid off, you know the evils of that truck and done the work to make it a good little truck.

 

I know people have had issues with head gasket in 05-06 models. Start by doing research on value if you want to trade it in. Also if you're thinking about a brand new one (3rd Gen), there are complaints about the drivetrain so I suggest you test drive and make sure you are ok with it.

 

Right. I have been following the head gasket threads carefully. I asked Toyota about it and they say there is no quantitative evidence. I am not too worried about it -- if it goes I will just have it fixed and bite the bullet if I still have the truck. Will do a test drive but I wanted to think it through before I get too far down the path of test driving a new truck.

 

Here’s some advice from someone that has an unfixable disease with selling trucks and losing money.

keep it.

take whatever money you were justifying spending on a monthly truck payment and save it.

if you were saving $500 per month, you’d have $6,000 at the end of the year. In 3 years you can sell that truck and have $25,000 to put towards whatever you want. Or a house. Or to travel.

my 2 cents.

 

If it’s paid off I’d keep driving it. Your truck looks good, it’s reliable, it’s not the best idea to spend 40g. The new truck isn’t really going to do anything different.

 

Your gonna have to replace it sooner or later. Your already throwing money at it for repairs. The truck is 15 yrs old. Treat yourself. Buy a new truck!

 

Your truck seems to only book at around $8-$9K on trade and $10-12K private party. I'd keep it as it has low miles unless you really need and can afford a new one.

 

I sold a 2006 trd off road extracab 4wd with 60k miles last year for $16k and it took forever to sell (2+ months listed on multiple sites) . That was a California truck with no rust.

 

Why sell it after all that? If it only has 55k miles on it it should last another 150k easily, it's so much cheaper to keep it, it's in great condition, and there is no way you're going to get the equivalent value of the work you put into it back when you sell. Most people don't care about the frame rust proofing, and the aftermarket exhaust and stuff, because it's just a vehicle to them. Unless you sell it here, where most of us are enthusiasts and actually do care about that stuff, don't expect to get more from it than a normal Taco.

 

The new truck will do exactly the same thing as this truck. If by new tech you simply mean carplay, just buy a stereo with carplay. A double cab will only elongate the truck, so you're not going to "feel" the increase in room, your passengers would however. If you need more room, either get a tool box or get a full size truck (plenty of room there). New vehicles are almost never worth it unless you dont know how to turn a wrench and get milked at mechanic shops.

 

"Don't know how to turn a wrench and get miles at mechanic shops." You described me personally! . But great feedback.

 

Then I would reccomend a new, or lightly used truck. Preferably the latter. If you were to get another tacoma, it's practially the same thing with some face lifting both inside and outside, so if you're unhappy with this truck you're not gonna be happy after dropping 40k on the new one.

 

Keep it there is plenty of miles ahead with only 55k.

 

i like your truck I’d recommend keeping. Sounds like you’ve done most age related issues you have what maybe water pump in another 30-50k somespark plugs and thats it

 

Drive that bitch till dies, has another 200k in it.

 

If the modern technologies matter to you and you are looking for more space, I would say do it. You cant add that stuff to your 2005. I would test drive a 3rd Gen double cab extensively and see what you think. Your 05 is very nice, but no way your adding space to it or really adding all the creature comforts the new models have. I love my 2018 double cab.

 

FWIW, I used to own an '02, and the only reason I dumped it was because I couldn't get the CE light to go off and still make the drop-dead inspection date. Neither could my mechanic and neither could the local dealer. I suspect it needed a new cat, or cats (I think it had two but I can't recall). That truck got the frame swap, too. Looking back, I wish I'd rented a car and had whatever work done that was required to clear the CE condition, because I replaced that truck with an equivalent '13 model, which isn't nearly as comfortable to sit in, isn't nearly as well-finished, doesn't ride as well, doesn't look as good, and its sound system sounds like a $9 pair of personal-computer speakers. That '02 might still be with me if I only hadn't been, well... dumb. Thousands of dollars down the crapper for no logical reason whatsoever. Still kicking myself.