Build up a paid off 2nd gen or buy 3rd/mods move to 2nd gen forum plz

So I own a 2005 tacoma 4x4 dclb sport, it’s got 126,000 miles good truck everything works fine doesn’t need a lot if any maintenance catch up. Main thing it’s paid off.

But I’m wondering wether to waste time/money building it up just a little bit as in bumper winch, ome front suspension for a little better ride to replace spacer lift.

Or if I should go the other route of buying a new 17/18 4x4 off-road? Opinions?

 

Option C: Newer lightly used Gen 2 TRDOF

 

Gen 3 Off-road!

 

Thought of that too, just thought the 3rd gen option might provide better mpg. My truck now with 285 gets 14-16 so I figure newer 2nd gen still get same mpg

 

The most efficient vehicle is a stock vehicle. Do you want efficiency or mods? Can't have both unless they are hypermile mods lol. Add weight, bigger tires, lose efficiency every time.

 

Also local dealer kinda shyd me away from 18 because of the new safety sense says I can’t lift/bigger tire for voiding warranty says they have no idea what it’ll make the adaptive cruise do?

 

I have a 05 that runs great and does all the things a new truck will do. Depends on if you need a shiny new payment every month. I am older now and enjoy spending money on other toys that my paid of truck hauls around. A few mods are cheaper than a new truck.

 

So you’re concerned about mpg


Then ask us if you should keep your gen 2 and add a Bumper and winch???......what

 

Lol true, also the lower mpg of adding a bumper winch on my truck now doesn’t bother as much since I won’t have the payment of a new truck. If I get a new truck it would remain pretty much stock till the four or so years till I could pay it off.

 

3rd gen owner here. I'd build up a paid off truck myself. Just build what you got IMO. Other than the better interior, there really isn't anything that a 3rd gen would offer as a benefit over what you already own with regards to what you want to do.

 

Spend $40k to save a few bucks a tank on gas? How long would it take to equal out I wonder?

 

The #1 Best mod on a truck of any tacomaworld member... no payments.

 

The mods you described doing will be less than interest on a loan if run full term.

I say mod yours.

 

I suggest this lol

 

Kind of in the same boat. Have a ‘10 Tacoma that’s paid off, a ‘12 Mustang that I owe a little bit on and I’m thinking about trading both in to get into a Tundra for not much more monthly payment than what I’m spending on the car. But I think I’m going to put about $1500 into the Taco and put a nice Bilstein lift on it, which should make it ride better than new and set me up for at least another 50k miles of use. When you think about it, $2000 equals about 4 months of payments on a new truck. What could you do to your current truck for $2k? Probably lots. Up to you if it’s enough to make you satisfied with driving it for another year or whatever.

 

Lol yea this trucks paid for just sold my rzr, sold my dd 92 Toyota pickup. So I have cash I was going to use on a down payment and have about a 300$ payment for four years plus trading this truck in.

Or just get either a Pelfreybilt bumper or arb and winch, ome front coils/struts. I just installed some ome rear shocks made the truck ride a lot better. Just looking for some other opinions how nice the third gens are or aren’t?

 

Just to expound on this for you younger guys out there...the two major considerations for me are equity and flexibility. Right now, you owe nothing on your truck and you have probably $10k in real equity in it. If you put $400 a month into mods for 6 months, you probably won’t get a 1:1 ratio in equity, but maybe you’ll have $11k in equity when you’re done. Not too bad.

If you trade it in and finance a $40k truck for $30k, it might seem like you have preserved that equity, but you really have a used truck that takes the immediate depreciation hit and now you have a truck worth $35k so now you only have $5k in equity. You’ve cut it in half and it will be a while before you build it back up. You’ve also lost a lot of your flexibility, because you owe a truck payment for 5 years and it would take some work to get back out of it. Budgeting $400 or $500 for more/repairs a month can mean a badass rig built in a year and the flexibility to not spend $$ on mods anytime you need that money for something else.

I’m not the best example in the world when it comes to saving money (note I’m paying $350/month for a Mustang GT and it’s literally 2 degrees outside right now), but I try to maintain flexibility (the Mustang is a toy and I can bail on it at any time while still having a truck) and preserve equity (I owe nothing on the truck and am right-side-up on the Mustang) where I can, and it works well for me.

 

Sounds like you know what you’re doing. I’d say the third gens are very nice. Certainly much nicer than your current truck or mine. We have a ‘16 4Runner and it’s a very similar interior to the current Tacomas. Not really plush, but certainly more comfy than the second gens and the extra electronics are great to have.

 

I’ve been enjoying the no payments other than the house, the ability to spend on the truck and not spend when I need the money else where is what sounds like what I should do. Lol always get that idea that hey nicer newer is always better though.

Really hadn’t thought about losing all that equity on trade/new truck depreciation.