Should I sell it? (2005 SR5)

Hey TacomaWorld. This is my first post here, but I've been using the forums for a while and I'm hoping for some advice. Here's the situation:

I own a 2005 Tacoma base that I bought around 6 months ago for $7,500. It has almost 300k miles, but the previous owner did a lot of work on the engine around 10k ago to keep it running strong for a while. This work included a new head, new headgasket, new cats, and a timing chain (some other stuff too). Unfortunately, this truck has required even more work, and I've spent around 2-3k fixing leaks and other shenanigans.

Today I got it back from the shop, and cylinder 4 compression is around 30 PSI lower than the other 3 (around 120 PSI). They think that the piston ring or valves are shot and recommended a new engine due to the higher mileage. The shop (which is highly regarded in my area) quoted 13k for the whole swap, which is much more than the truck is worth at this point.

So, should I sell it? I really like the truck, and would be willing to try an engine swap with some mechanically inclined friends.
Otherwise, have people driven for a while with lower compression? It runs rough on startup but is fine once it gets going. The CEL has been on for around 2 weeks now...

Any advice or criticism is appreciated.

 

Welcome to TW…

 

You have a 20 year old truck with 300k miles on it, and you are into it for over $10,000

I say cut your loses and sell it.
A well written advertisement can probably motivate some other poor bastard in to thinking they can "fix it too".

Off.....Sorry man.
Chalk it up as on of those unfortunate life experiences we all go throw.
Take your $5,000 you might get for it and make a down payment.

Or spend another $4,000+ on a used engine and hope it all works out.

 

What CEL?

 

P0304 and P0420. Plugs and ignition coils are in good condition according to the shop.

 

Hmmm,
I completely refurbished my 05 reg. cab, 5 lug. Removed the bench and installed sport buckets w/ Katzkin and a center console. Tint, baby stereo, alarm system, LCE header and a custom high-flow quite exhaust system. New front StopTech’s from Tundra Racing and rear brakes, all new ball & U joints, newer (7k miles) rear gear w/ a TrueTrec. Have new front Viking coil over’s plus rear shocks, new PS rack, factory clutch kit all waiting to be installed. All New hoses, rad. & heater hoses, belt, thermostat, pulleys, changed radiator, fan clutch, plugs, most the vacuum lines, Yada Yada Yada. Next LCE is going to install new ARP head studs and there new to the market Magnuson supercharger. They wanted my truck to make a video on the installation of the supercharger. Then they are having it tuned with Haltech. The most money was the $3,500 paint job, I stripped and did most the prep work! Yes it’s taken time and money but it’s a vehicle I can drive until I can’t drive any longer. At my age it won’t be long.
***Edit*** Oh, guys just a little bit of advice, I keep going to the same Toyota dealer parts guy. Just happened to be the senior parts guy. I heard others asking him what he was going to do on his day off / birthday tomorrow. He said he was going to take his wife and kids to this restaurant that they discovered. He said they loved it. I was there to order more parts so I looked it up waiting in line, it was less than a ten minute drive. He asked me by name what did I need I told him I left the part numbers at a friends and I will be back shortly. I went into the restaurant and purchased a $200 gift certificate. I came back and he said he could look up the parts next time. I said thanks as I handed him the envelope and he opened it and said Son of a Bitch you now get my cost on parts for now on, Thanks! Trust me guys that $200 has repaid itself more times than I can count! Take care of your Toyota parts guy and he will take care of you. This is how I can afford to refurbished Toyota’s.

Just picking it up from paint.
Just cleaned up the engine bay as the paint shop had the engine bay covered in paint dust!

 

No way would I sell it,get a rebuilt long block put in and KEEP IT.

 

It's just a truck. Let it go. @hayrider2.0 you, not so much. That's a keeper.

 

Wonder if it's a stuck ring, I'd probably try the product discussed on here that's used to unstick rings, might not be the problem but it's cheap solution if it is and it's easy to do. Sorry but I can't remember the name but someone on here knows it.

 

Just throwing this out there...but LS swap is always an option.

It'll definitely require a commitment of time and money but the results would be pretty sick, imo.

I have a buddy that swapped his LX with a motor from an escalade and he ended up making money on the project after parting out the remains of the caddy.

 

Did I hear someone say LS Swap❓
It’s an aluminum L33 5.3 w/ just a baby cam /w better injectors. Hopefully we fixed the known issues with the LS now it should live a long life. Behind the engine is a twin disc, Tremec TKX wide ratio, shortened by 2” OEM drive shaft, upgraded U-joints and 3.73 gear w/ a TrueTrec. I used ceramic coated cast iron manifolds, two high flow cats (No watering eyes) and two of the largest Magnaflow mufflers made mounted in series with a 3” hidden turndown.
Oh, The Truth be told, I knew the wiring part would have been above my skills and abilities.
So I hired a TOTAL HACK to install this, I’m damn lucky the truck didn’t go up in flames!
So I paid even more $$$$ for another to completely re-wire the truck! But I absolutely love driving it. The power & torque is amazing. The hardest part is keeping my foot out of it! Next thing is a set of Cal Tracks. I wanted something that was out of sight but the room is tight with the large muffler directly under the bed.

 

I had an '82 S-10 pickup that I put a small block 350 in, in 1988. Damn, that thing was fun to drive. You are correct, it was hard to keep your foot out of it.

 

These repairs plus 300K miles would have been a big NO from me!!