Tacoma advice

The $10,000 is what he said it will cost to do the repair work to the damaged truck. Won't be necessary if you take the $14,000.

 

People (especially on here) act like the 3rd gens have more issues than previous, but they really don't. They had some new model issues in 2016, but not much sense then. The transmission isn't extremely popular, but an inexpensive tune easily remedies that. I will say that new ones are hard to find right now. You probably won't have a huge selection to choose from.

 

Take the insurance payout, keep your truck (pay the salvage value). Pay off the loan. Buy junkyard parts and take to a body shop to have them install if you can't do it yourself. Tell them you want to pay cash, that it is not an insurance job.

You can come out of this with your beloved truck fixed, payed for, and some Benjamins to dry your tears.

 

And if he totals 2 days later ( he lives in a state where he can only get liability on a salvage title) he’s completely out of a vehicle and the money.

 

14k, hell I would dump my beloved 06 in a heartbeat. Only gave 18K in 09.....that's some cheap use....

 

Option #1. You may discover other issues down the road after you get it fixed if you go Option #2

As someone who's owned both a 2nd Gen and a 3rd Gen, I'd argue you should think about what you use your truck for before committing to one truck or the other.

If you actually go offroading, I'd say go pick up a low mileage 2nd Gen. The instant torque response of the 4.0L makes a pretty substantial difference when "feathering" the throttle over an obstacle in a tight spot. Plus the 2nd Gen doesn't have the massive monstrosity of a hood of the 3G Taco like others have pointed out, which is nice when you're trying to navigate a trail and see what you're driving over.

If you're staying in the city doing Home Depot runs and cruising the freeway, go pick up a 3rd Gen. The Atkinson cycle motor delivers pretty good gas mileage and the 3rd gens have lots of creature comforts. 3rd Gens use the same motor as the Toyota Camry, so you'll get car-like shifting and power delivery. I'm not bad mouthing the 3G Taco's, but they are a bit "watered down" from the 1G & 2G Tacos IMO.

Let us know what you decide!

 

Gotoman1969 speaks the truth. My espoused strategy is high risk - high rewards. If you have a salvage title you're basically driving at your own risk.