96 Tacoma - Keep Maintaining or Sell?

Hey everyone, I'm in need of some advice on my 96 Tacoma 4x4. It's the Base cab 3.4L with 303,000 miles on it. Original engine and transmission. My question is when do you determine that you've sank too much into a pickup and sell? Recently I've replaced the engine knock sensors, clutch (with master and slave cylinder), 15 piece OEM timing belt kit, blower motor, etc. I got the truck for free, but I'm pushing $5,000 on maintenance at this point between parts and labor and feel that I could only get 5-6k for the truck. At what point do I cut my losses and move on or would you continue driving it?

 

Man, I had that exact same 96, and to this day, I wish I had never let it go.

 

Consider what it would cost you to get a truck that filled your needs as well as your Tacoma. Right now you own the truck free and clear. Buying another truck will cost more money. Depreciation on a new truck will cost more than you have in your truck now.

Autos rarely are good investments if you consider return on investment. Selling at a profit only happens in rare cases for most people that don’t buy wholesale as a dealer might.

Short version: keep it if you like it!

 

If the frame is good, then keep the truck!

Shit wears out, even on a Tacoma; I had the master cylinder replaced in February 2014 when it failed, the evaporator core in September 2018, and right now I'm waiting for a new wiring harness for my blower motor. This is just the shit that was unscheduled; Don't even get me started on brakes, tires, and oil changes!

Seriously, keep the truck!

 

no matter what you own it will always cost money. I once thought about selling mine and getting a newer one. But - with the price of the new one and possible loan, extra insurance etc. It just really doesn't matter. I like fixing my 98 when something breaks because I can do it in my garage. Something newer might not be as easy. Plus - what do you need a pickup for? For most these pickups do all that you need. I just kep the Tacoma and got a car. That way I can drive it while my Tacoma is torn apart. lol

 

Keep it. A new truck will cost more in monthly payments, insurance, and likely gas as well. In these crazy times, it's better to sock away money, and keep monthly expenses to a bare minimum.

Edit:
As long as your current truck is and continues to be RELIABLE.

 

Thanks everyone, the perspective helps. And yeah, it's straight body and never been wrecked. I'm only it's 3rd owner. And not having a car payment I supposed it's a wash if nothing else on the expenses.

 

Those single cab v6's are very rare these days, even with 300k miles you could probably get more than $6k for it with the right buyer. They are hard to find nowadays, Toyota only made that configuration for a couple years (1995.5 - 1997)

I would hold onto it, and if you can - try doing some of the maintenance on your own to save some $$$. A lot of things are just nuts and bolts and really easy to do if you follow a good write up/video tutorial. There are tons out there on here.

 

I had an 02 Prerunner with 325k miles, also on original motor and tranny. I put a lot more than 5k into it over the years, but the truck was pretty bulletproof. I had a few issues come up on road trips the last year I owned it, fortunately I was close enough I could limp into town each time. Had I been in a remote area it would have been a huge hassle. After 3rd issue I decided to get a new truck rather than chance further issues far from home. I don't get enough time off work to have a vacation ruined by mechanical issues. Can confirm the new truck route is a lot more $$, but hopefully it will last me another 300k. I can fix basic stuff but don't have knowledge, time or space to work on a lot of issues that might come up. If you're able to work on it yourself that might change the equation. Having no payment is sweet. Just set aside the amount that a monthly payment would be as a maintenance fund. Bet the fund grows pretty quick.

 

We’re in kind of a similar situation with my wife’s Rav4. It’s a 98 with a little under 200k. It’s getting to that age where stuff is wearing out simply due to age, and not just mileage, if that makes any sense.

We’ve decided that barring any major repairs (like it throws a rod or something), it makes sense to keep it as long as she’s enjoying it, and it remains reasonably reliable.

The 90’s were a golden age for Toyotas, imo (Hondas, too, probably). Small, light, compact, and easy to drive. You just can’t get a vehicle nowadays that has the visibility of those older cars, because the pillars are made so big for side impact and rollover protection, and to hold 1001 airbags. All that stuff is great for the occupants, but does nothing for the kid that runs out in front of me that I can’t see because of a giant A-pillar.

/rant.

Regardless, brand new vehicles are a ripoff (I know, I know- 2019 Taco in my profile pic; exceptions to every rule; yada yada...). If/when the time comes to replace the Rav, it’ll be with a somewhat newer used Toyota. Maybe a highlander or 4runner? Idk yet.

 

Depending on where you're located, I might be interested in buying it if you decide to sell.

 

I was very surprised at how Toyota's keep their value; I went looking for a used 2018/2019 Tacoma--it turned out to be less expensive to buy a new one (in 2019.)

 

yep. One of the reasons I bought the truck brand new (in late 2018). Resale on late models are insane.

But for personal vehicles, I don’t buy anything with less than 100k miles on it, or under 5 years old. Even at that age an mileage, some models are way overvalued right now, imho.

 

Only you can answer this question.

Then sometimes cost and money don`t even factor in you reach a point and say your done.

Lots of cases it means sell the vehicle and move on or if your lucky park it in the corner of the shop for later.

One vehicle I will easily spend 5 times what it might be worth so many different factors play in there is never a simple answer.

 

He mentioned labor cost though which makes me think he's having a shop do all this stuff, that can really add big bucks to your expense with an older vehicle...if someone won't or can't take on at least some of the DIY maintenance with an older vehicle, it may be worth letting go of then...because labor prices can definitely drown you if you don't have all that money to burn.

 

Car-note or no?

After spending $5k, what else can go wrong?

 

The next weakest link!

 

Owning a older vehicle is not cost effective if it goes to the shop for every little thing at least how I look at things.

 

Agreed, and to address these few comments, I'd say I'm a surface mechanic. I can replace an alternator, brakes and rotors, etc but knock sensors on these things for example require you to pull apart the engine block. I spent 2k on that job alone. I just spent 1k today on a new clutch and some seals and bearings that were incidental to the work. After how much I've replaced, there's not a ton left to replace barring an engine or transmission failure, but I agree that having to pay people to do a good chunk of it doesn't help me much!

 

Not sure honestly. I'd say keep it, if you're sure it will no longer need to be going to the shop for engine/transmission things. Though at 300,000 miles, it's kind of pushing it.. still.. it looks like you'll end up saving money in the long run even if you do need repairs. Though, not sure if you'd rather not deal with all of that with a 25 year old truck