Are first gen Toyotas actually worth the price?

https://www.investopedia.com/terms/g/greaterfooltheory.asp

What is the Greater Fool Theory?
The greater fool theory states that it is possible to make money by buying securities, whether or not they are overvalued, by selling them for a profit at a later date. This is because there will always be someone (i.e. a bigger or greater fool) who is willing to pay a higher price.

"You got to know when to hold 'em, know when to fold 'em, Know when to walk away and know when to run. You never count your money when you're sittin' at the table." Kenny Rogers

 

The Mrs. and I always wanted a first gen Tacoma, but didn't have the means to buy one when the trucks were newer and as the trucks got older we couldn't bring ourselves to pay north of $14k for a high mileage truck. Then one day we came across a 1996 Tacoma, 4x4, 5 Speed with 140K miles that needed a little TLC. It had some sun fading on the hood and roof, had a few oil leaks (valve covers, oil cooler, etc.) and other deferred maintenance. I slowly started a light restoration with a paint correction - so it looked at least a little presentable - changed all fluids, fixed many of the leaks and completed a deep cleaning of the interior. Much more to do, but this little truck runs amazing and we are absolutely overjoyed with it. It is super easy to work on, parts are cheap, it's reliable, has great traction on icy and wet roads and we purchased it for only $5K!.

 

Here is one at auction one day left from an estate with only 44,000 miles in Colorado so probably little rust if any

https://schursuccess.bidwrangler.com/ui/auctions/59302?query=Tacoma

 

First gens are the best gens but generally speaking, they are priced too high.

 

How’s the frame on this one?

I miss my 1st gens, but they all had rusted through frames. My 2nd gen TRD OR has no sole compared to my 1st gens.

 

Sold today

 

We almost bought a Tacoma last month for 18k.

Instead we bought a 2006 Tundra DC AND a 2006 4Runner V8 . . . And have about 7 grand to spare to buy a couple of dual sports in the Spring... haha.

Yes, Tacomas are worth their premium price if you know for a fact they’re the right tool for the job for you. If something else will do, do something else. We love Tacomas. Have had them in the past and will have them in the future. But for now, we’re making due with other fun things and cash to spare haha.

 

Wow... wonder if I should sell my 1st gen?

I got about $2400 into it with maintenance and new tires, fluids, clutch hydraulics, exhaust manifold...

2.7, 4x4, 5 speed, 159,000 miles...

damn, my little Chevy S10 sold on Saturday, could have kept that and sold the Taco for extra cash...

but nah, no real plans to sell it... but tempting

 

Most owners regret selling and attempt to hunt it down lol

 

I bought one in April of 2019 for a shamefully low price. I spent some significant money restoring it. In the past year, I've turned down two offers over $13,000. The problem is what will I buy to replace it in that price range? I would be moving backward in terms of expected service life unless it was a fairly new Tacoma with roughly 75,000 miles or less. Good luck on finding one at that price. I didn't buy it to resell it. I bought it for the utility and to keep it for over 10 years. I see there is a new truck shortage due to some type of manufacturing chip. That may be contributing to higher than normal used truck prices we see today.

When I get to the end of my intended use cycle, I will be happy if it holds a nice resale value. Though a lot can change in 10 years. I expect oil prices to increase over the next decade. If I sell it for minimal value in 10 years, I've still made money compared to a new vehicle.

 

I bought my 95 in 2002 with 51k miles for $12.5k. Sold it to my brother in 2013 while I traveled around New Zealand. Regretted that immensely as he is hard on everything. Bought it back a couple years later with some body damage and neglect. Have slowly been fixing it back up.

Now has 311k but still runs great. I’ll never sell it at this point. It has been in AZ truck it’s entire life so no rust issues. They are worth the premium IMO. I’ve spent almost no money in the long run on maintenance.

 

Dear Tacoma Junkies,

I am going to give an interesting analogy about first generation Tacomas compared with first generation Camaros.

Chevrolet made the first generation Camaro from 1967 to 1969. These first generation Camaros had three model years of production. All of the Camaro junkies and enthusiasts pursue first generation Camaros before any other type or generation of Camaro. The first generation Camaro is the preferred body style.

This same mentality holds true for these first generation Tacomas. People seem to gravitate to the body style of the first generation Tacomas.

Take it easy,
Paul

 

Bought my first “new” Toyota pickup in 1985. I loved it, but 15 years later bought a new Tacoma. After driving it for a week, I had to move the ‘85 and thought to myself “what a bucket!”

 

Similar story except I had an '86 2WD pickup with a 3" body lift running 30x9.5 tires and I loved the crap out of it. It had 289,000 miles on that 22R motor and some ass hat stole it from my driveway back in San Diego. After a brief stint with a Ford Ranger that lasted only a year, I went and bought my '04 Tacoma in December of 2003. 201,860 miles later and I love my Taco every bit as much as the day I drove it off the lot.

Since I moved to Ohio a few years ago and learned about this thing called rust, I started cleaning the frame every spring to get all the salt and crap off of it. Unless it's wrecked or stolen, I hope to be driving it at 400,000 miles.

So, back to the original post the 1st gens are absolutely worth it. If maintained, those motors can all go for 200k+ miles on them and if needed, you can buy the Safe-T cap frame covers to repair the frames. Even if you paid $10k for it, and ended up putting another $4-5k into it, you're still way ahead from where you'd be if you went and spent over $30k on a new one.

 

1st generation peripherals are lasting longer too compared to the pre Tacoma pickups. I owned a Chevy short bed and bought a ‘72 Ford “Courier” in 1980 made by Toyo Kogyo just for the better gas mileage. That started me buying smaller pickups. I haven’t looked back since.

 

Yes worth it I payed 11000 for my red one 2 years ago with 140000 then bought another one for 2700 couple months ago on facebook lol I felt like I stole the truck from them with that price had 209000 miles and a double cab had so many parts already replace it has 221000 now since it's my work truck now but anyway yes they are worth it just be on the look out for deals or for a nice clean one

 

I love the 1st gens for the body

 

I just bought my 97 ext cab, 4x4 V6 this past Saturday with 248k miles on the chassis from a guy that owns an auto shop.
The motor was rebuilt 20k miles ago in his shop and it drives like new.
I paid 6k for it and still can't believe the deal I got on it.

 

A lot of early 1st generation owners today are like me when I was young. I just didn’t have the cash!!! Plus, I didn’t mind my fingernails getting dirty or scraping my knuckles.

 

Thanks to this forum the first thing I checked was the frame. Frame is ultra clean and solid all the way around. In Texas the primary issue is the Sun that burns hard and fades the horizontal surfaces. Paint for the hood and top of the cab will come soon, but below is a list of all the things I have done to the truck since my last post:

1. Cleaned and refinished wheels
2. Installed Wheelskin steering wheel cover
3. New spark plugs
4. PS, trans, diff and engine oil fluids changed
5. Bedliner professionally sprayed
6. Cleaned and repainted 4X4 mudflaps
7. Slave cylinder replaced
8. Brake and clutch fluid replaced
9. Replaced shifter bushings for tranny and transfer case
10. Replaced oil gasket housing on top of tranny and transfer case
11. Installed Husky rubber floormats

Just taking my time completing about 1 task per week. Will have to post some pics soon.