Keep or buy new advice ...

I can see both sides and really buying new is not smart as Suze Orman always says ...

but my vote is go new with what you want for sure as that day you're saving for may never come. Had a homie get murdered just last year ...you never see it coming.

 

How old is your son? If he's riding in the rear cab, I absolutely would sell and look into a DC Tacoma. There's no way I would even consider an AC cab with little kids.

 

I had an 07 previously that I planned on keeping for a long long time and it was written off in an accident about a year ago. It was paid for and had never had any issues. Insurance gave me 15k for it and I figured I may well use it to get myself into a new truck. Now a year later after having my 18’ the “New Truck Excitement” has worn off for sure. I love the 18’ and I have no doubts that they’re still just as good and reliable truck as previous gens. But I also hate having a payment and wish I found a used 2nd Gen. I’d keep driving your 05’ and save what you’d be spending on a truck payment and down the road if you see something come up you like or still have the new itch, go for it.

 

Id keep it. I think your having things go out on it because it's not driven enough. I just traded my 06 in and it had 225k miles. Only repairs I had to make was a driveshaft support and u-joint from towing a trailer. The less you use something it's gums up and breaks or fails. Use it to much you wear it out. I think 55k miles caused things to gum up or fail. That's what I think. Also you won't get that much out of it and it's practically a clean truck. What type of things do want as of tech upgrades?

 

I find my 18’ smaller than my 07’ for sure. No sun roof here but test drove one with it and felt like my forehead was touching the headliner.

 

If you need more room... I'd sell it and buy a used 2nd gen double cab. You'd save money, get the space. These trucks do last forever. Put that extra cash into mods! Or your child's college fund? No, mods.

 

If you buy a new truck you will pay more in taxes than a new engine would cost in the 05.

 

Sorry for your loss, my condolences.

My vote is to upgrade to a second gen double cab. Children don’t shrink, if he’s getting cramped already, it’ll only get worse. Take your time, find the one you want. I spent 4 months before making a purchase.

I test drove a 3rd gen early last year, then found my 2nd gen xrunner. The new car smell is nice. The tech was better, no issues inherited from buying used.

I swear the 2nd gen drives better, feels faster. I’ve noticed the majority here is off roaders or pseudo off roaders. It leave me and my xrunner feeling like the odd cousin nobody talks to. We’re related but stay over there. With the multiple trim levels, manual, auto, v6, 4, 2wd, 4wd, dc, ac, they pretty much covered it all.

I accidentally ended up browsing in the 3rd gen area. Try it, you’ll realize you need to stay with a 2nd gen.

 

If you invest just the money you would lose just in depreciation over 10 years by buying new, we will figure 18k you would end up with around 40k in a decade. Let's assume you are 35 and leave that 18k ride with an 8% rate of return over 30 years, and you would end up with $181,127.82.

 

Time to move on and get a new one

 

A warranty is a good thing. And outside of insurance and paying for it, the rest is mostly things that have been over exaggerated here.

 

You could get an SR , 4wd, double cab, v-6 with convenience package for under $30,000. There is no need to spend 40 on new.

 

A material thing that you have everyday to use and could sell to get some money if need be versus an “experience “ that has no value anywhere other than between your ears. Sink more money in an d truck that you will never get back ?

 

Why put all of that money into the truck and not get anything out of it? None of it increases the dollar value of the truck. You’ve made it reliable. Drive it and enjoy not having a payment or increased insurance.

 

He’s got it in perfect condition to sell and put the money into a new vehicle. Eventually he will have to do that anyway. The longer he keeps it the more he will have to replace. It’s 15yrs old. And you can’t sell it when it needs repair.

 

It’s not a DD.

 

If you NEED a different type of truck buy what you need. If you've reached the point where you need to tow heavier, or haul heavier than the current truck will handle then you NEED a bigger truck. If you NEED more interior room for more than one passenger then you NEED 4 doors. But if you're thinking about a new access cab Tacoma just like the one you have I'd keep what I had.

And even if you need a bigger truck and can afford to do so I'd still keep that one and buy another bigger truck. I was at that point 4 years ago. My 07 had just become too small for my needs. I could have traded it for a bigger new 2016, or keep it and buy a bigger used 2014 for about the same money out of pocket. I decided to keep my 07 Tacoma and buy a 2014 F150 Supercrew. After 4 years I have no 2nd thoughts that I did the right thing.

I work with a guy who bought a new 1988 right after graduating high school. He got married and had a kid on the way and traded it for a new Chevy 4 door truck. His 88 was as nice as yours and I tried to talk him into keeping it too. But he wouldn't listen. Someone out there got a great old truck

I do have one question. How do you only have 55,000 miles in a 15 year old truck. I had more than than that in 2 years.

 

I have 353k on my 2013 gen2
so OP- you have lots of life left in your paid off truck (quite possibly 300k more miles)
& its looks clean for a 15 yr old auto

I would keep it & if you really have an itch for a new taco, go buy one
do the double taco, keep the old & get a new one, have your cake & eat it too
there are many folks on this forum with numerous tacos in their fleet

I plan to drive mine to 500k, then go buy a brand new taco (around sept 2022)
I will keep the my old 2013 taco & have a new 2023 taco
(hopefully by then toyota makes an AWD hybrid taco with the gas motor pushing the rear wheels
& independent elec motors for the front wheels)

 

This X a million. Went through the same thing, got the same advice, ignored it and bought a brand new truck. 2 years later I woke up and realized what the heck am I doing spending 500 a month, sold the truck, picked up my low miles 06 and couldn’t be happier.

 

Keep. Done.