What would you do?

Hello Tacoma enthusiasts...

I posted recently about my totaled 1st gen.. I got a pretty crazy insurance settlement (18,500) and am torn on my next move. I love the 1st gen tacos and am looking at a clean 2001 4x4 TRD with 125k miles for 16k... seems crazy but the market is what it is and with the settlement I could buy this thing outright. OR.. I could throw in the towel and use the settlement as a down payment and go newer (2nd or 3rd gen) with a monthly payment (I don't want to go over 30-33k out the door). The reliability/safety of a newer vehicle sounds appealing but the newer trucks just don't have that first gen magic.

I really don't know much about the newer models and was never in a financial position to consider them. IF you did opt for newer, what would you suggest?

WWYD??

 

I would stick what what I knew and trusted if I were you, and that is 1st gen's. Shop around, be patient and you'll find close to, if not exactly what you're looking for. I'd do a search on AutoTempest or AutoTrader to try and find what you're wanting.

Edit: I ran a quick search on AutoTempest (you can list very specific wants) and came up with this:

 

If you need a truck and are using it as a truck i.e towing/ hauling I would look into a late.2nd gen. You should be able to find a nice clean low mileage one for low 30's. Research years to stay away from. A deer totalled my 2015 or I would still be driving it. My 2020 has more electronics that it. Gas Milage got negligibly better and 6 sp trans is nice but I would rather have the 4.0L back .

 

I mean personally, as much as I love first gens, I can’t justify 20k on a 20 year old mass produced 1/4 ton. I’d look into a later second gen, you could get into a nice 4x4 one for about 25-26k, have a small payment over a short term and get a nice upgrade in truck over the 1st.

 

Thanks for your input. I honestly don't do so much towing and hauling but more-so use it as a house on wheels for travelling in the mountains and on desert BLM land. I like the capability of the truck to go where I want no matter the road condition and have used the bed as a mini-apartment for camping for years-- love my system. With that said, think the first gen would edge out?

 

Honestly agree with everything here. Only reason I traded up to a '21 was cause I got offered a stupid amount on my '14 and I was able to get it without any markups. That 4.0 Liter is a much nicer engine and easier to work on.

 

2001-2015 is a huge amount of time in vehicle refinement. They didn't change much on the 2nd from inception to last year of it other then safety, electronics and refining the growing pains. The 4.0 L needed little, it was a solid and reliable engine. The late models didn't seem to have as much frame rust issues. You will have more room in the 2nd gen if that important or not. Go drive several versions and decide but I'm a double cab guy because it's my everyday driver.

 

So what is the particular concern with a new 3rd Gen other than ‘the same magic’? 18k can put you brand new otd owing in the 20s or high teens depending on what you buy. Pay it off in 48 months and move on with great equity and good vehicle for 10-15yrs. Lose very little money in depreciation if any on a Tacoma should you desire to move on!

 

Slightly diferent situation for me but similar thought process as you are going through. I bought my first Tacoma in 2016 (a used 2015 DCSB OR) and loved it. Unfortunately totalled it a few weeks ago. But I got a great value for it from insurance and so had to decide whether to stay with a used 2nd gen or upgrade to a 3rd gen. I decided to use as a downpayment for a 2021 OR. I will miss my 2nd gen but will be nice to have a newer generation truck as well. Good luck with your decision!

 

Best part of coming from a 1st gen is that you aren't attached to any bells and whistles of the new generation of trucks. If you went with a 2014/2015 2nd Gen, you're still getting a truck that may not have crazy high mileage but is still new enough to last you quite a long time. Although in today's weird market, a used Tacoma can end up being more than a new one so that's something to consider.

 

I bought new because of the low depreciation. Used prices are just too high. My opinion.

 

18.5 is terrific payout for a 1st Gen. i understand your affinity for the 1st Gen. But that may be due to your specific 1st Gen. It would to bad to buy someone else's piece of shit. I would go brand stinking new if you can swing it. New is new...

 

I agree, Most likely everyone with a nice 1st gen is holding on to it at this point.

OP, sorry about your loss but instead of a 2001 with 125k miles.. check out this 2017 SR 4x4 Access cab automatic inline-4.

We all know the 4 cylinder with the 3rd gen can be underpowered for some but it's also virtually bomb-proof.

Grab a plane ticket and 5 grand and drive a new truck.




My advice.. hit cars.com look for the lowest miles with the minimum requirements and fly out to get it. Good luck!

 

Another consideration is loan interest rates on newer vehicles are very good if you have good credit. I just got 2.13% on a 2020. At that rate I'm not paying it off from insurance. Instead I'm using insurance pay off to remodel my bathroom.

 

Ditto. Exactly.

 

Gotta agree with most folks... No point in buying used in this market. Even before the pandemic 1st gen Tacos were over priced (for good reason, reliability is world class) but in this market? Just get a new one. If it were me, I'd get a sr5 or base model extended cab 4cyl with 4wd. That 2.7 is going to last forever and while it is anemic as hell, it does it's job.

 

Wish they had that with a manual. That would be a good value.

 

If I lived in a warm climate, I'd rock one, but I wouldn't be able to find one around here that wouldn't be rusted to shit by now.

 

I really don't know why they stopped offering the 2.7 with a stick, but I did own a '08 2.7 auto and never had any issues with it. smooth as butter.

 

Welcome to the forum

Sorry about the loss of your truck. Firstly I completely understand (and am guilty of) keeping old vehicles due to a personal attachment.

That said a 20 year old vehicle even in excellent condition is still 20 years old and anything used is always a gamble. Buying new or nearly new offers you a longer window of parts and service availability than something 15-20 years old.

Used prices are insanely high and oddly new vehicle interest rates are insanely low, you have a good pile of cash so you wouldn't need to borrow much to have a brand new truck -- go drive one and see what it feels like!
(Access cab manual transmission!)

Please keep us updated with what you decide to do and good luck.