Are first gen Toyotas actually worth the price?

When I was searching for a Gen 1 double cab, I quickly realized that I would have to expand my search from the San Francisco Bay Area to the whole state of California. I also considered surrounding states other than mountain areas which still have rust issues, even in California.
Every time I called or emailed on a Craigslist ad, I was too late, and the options in the 200 or so mile radius from me were very few and far in between. I signed up for instant text notifications on my Craigslist app, and that helped a lot.
I found a 2002 with 125k miles in LA for $12.5k and jumped on it. I arranged with the seller to have him hold it while I booked a flight, but just before buying the ticket, my phone buzzed. A 2004 DC with 134k came up 200 miles away, and I was the first person to reply to the ad. I drove down the next morning and bought it for $12k. The truck was never used as a truck and was a highway commuter. The only issue is the crappy paint that has mostly peeled off the hood and roof in the 2 years I've owned it - but only had a small area where the clear coat had started delaminating when I bought it.

Anyway, I could not believe the demand there is for these trucks. You really have to use the tools at your disposal, including notifications when a new ad appears, and be willing to travel outside of your area.

 

Dear JohnyyReb,

Here are the problems with purchasing first generation Tacomas. Some of this information I am going to discuss will be redundant for many of you. First generation Tacomas suffer from frame rust. The ones that do not reside on the west coast and the southwest of the United States with the exception of Florida and Texas most likely have frame rust if they are still running at this point in their life. As a result of this dilemma, there are not a hell of a lot of them left. Please note many of these frame rust ridden first generation Tacomas were purchased back by Toyota when frame rust was first detected during the initial Toyota buy back program. Some of them received frame replacements, but that was not very many of them. Even the newest first generations, which are a 2004 model year are now 13 years old so finding one with relatively low mileage, and that does not have frame rust is going to be quite a chore.

First generation Tacomas have a cult like following behind them, which is part of the reason why sites like this exist. To clarify this point, this is the same kind of attention and admiration first generation Toyota FJ 40 and first generation Camaros receive. Followers and admirers seem to be very emotionally attached to the body style of first generation Tacomas especially the 4x4 extra-cabs with the 5-speed and the 3.4 liter V6 engine, which is part of the reason why the prices of these old Tacomas are so expensive.

If you are looking for a long term useful pick-up truck for yourself or your family will have to put in an incredible amount of time and energy in locating a first generation that fits the bill. Unless you are completely emotionally attached to the body style of first generations, your effort will be much better spent seeking out a second generation. You will have many more to choose from, and they are built just as well as the first generations. They have a ton of more options. Their stock seats are also quite a bit more comfortable, and they are a much better balanced truck. First generations are just small trucks that have a relatively big engine for their size when equipped with the 3.4, and they ride hard.

Good Luck
Paul

P.S. I am a first generation admirer.

 

I bought my 2001, Tacoma, 4x4, V6, TRD, auto trans, Dlux, 87,000 miles for $12,000.00 2years ago. I looked for 3 months and offered a reward to a young fellow who found it for me. I've been offered $21,000.00 for it , but I said no way. The man actually got so made at me he started cussing at me for not selling! Since then I have probably had 15 or so offers.
Does this tell you what you want to know about the Generation 1 Tacoma's. I just really like the look and have had not 1 thing go wrong !!!!

 

I think it has to do with the look and size too. 1st Gens look more like the 80s hilux than the later Tacos. I never cared for the look of the 2nd gen tacos.

 

No depreciation on first gen double cabs. You could even turn a profit.

 

my experiences are very similar to Changelings post above... when I acquire a project truck it is always sold before I get finished with it... how much are do you want? and I tell them I dont know, yet. I wont know that until I am done and confident that it will have no problems... if something is in question, fix it or replace it. I drive them for a minimum of 3 months after just to be sure something unexpected dosent happen, so, as to your question are they worth it? All of MY customers say yes.

 

I bought a 2004 V6 trd w/ 140k miles for $10.5k. In the PNW so no rust and fantastic condition. Got it 2 months ago and it needed about $500 of work for odds and ends. I love it, the truck is absolutely bullet proof. I was debating between it and a 2011 V6 4wd ranger with 80k miles for $11k. No contest!

What I noticed from the very limited selection is all of the V6 4wd 1st gens are $10-12k, with all the miles being 135-220k and not factoring much into the price. No one is in a hurry to sell, because they don't seem to want to sell! Personally I would shop for condition rather than price, make sure the seller has done regular maintenance with shop records and get as close to 10K as possible while not sacrificing quality. My seller was wonderful with complete records and proof of all recommended maintenance. Since you'll be spending ~$1500 a year to keep the truck is awesome condition.. isn't it worth spending 11-12k now to get something that will really last??

Might also help to email those sellers with 10K offers and see if you can get them to wiggle, at least in my area the 2000-2004 trucks over $10K stay on craigslist for at least a month or more.

 

Here in the northeast, it's a tougher call. If you find a truck with a replaced frame, you can have greater confidence it will be around for awhile. If not, there is a significant risk that the frame will have issues. By the end of 2019, the extended warranty on the frame will have largely expired for those trucks which do qualify. I paid $10.5K back in 2013 for my '03, (from an out of state used car dealer - they were even hard to find back then) and immediately had to spend a few more thousand to get it on the road. While it is still under warranty for the frame, I am reluctant to spend any more on it unless the frame fails inspection before August 2018. The frame is borderline right now. I think I paid too much, considering all that. This is my fourth Tacoma, with the others having succumbed to rust and the buyback/frame replacement.

 

Rust isn't as big of a concern here. We do have salted roads, but not like ya'll do up north. The several I have personally inspected seemed to be OK with original frames.

 

You're a lucky son of a gun . Good luck.

 

Glamisman is right. Buy with what you are getting, meaning make sure everything is in great shape, price is secondary! I was searching the whole country when looking. It was finally found about 30 miles from my house. On finds like I got you better have a quick way to get the money and don't hesitate if things look OK to you.
Do have the frame checked out for rust, always! Reason being there are NO frames available I was told (2 years ago).
If Toyota was to make a run of the 1st Gens again, I would bet they would actually sell out in no time, that's how much people like them, and it's not only for the looks, they are bullet proof as some one here said!

 

just curious, so hit my local Craigslist
https://nwct.craigslist.org/search/cta?query=tacoma

Found this 2001 230k for $4,500 with a new frame in 2010 but they say it won't pass inspection. Clearly more than ball joint mentioned or they'd have done it.
https://westernmass.craigslist.org/cto/d/tacoma-new-frame-cyl/6230782028.html
If I hadn't just bought one I'd go look at this - plus cab, manual, 4WD, diff lock, sunroof. Although it's an auto & a 6cyl.
Many car dealers will meet you at the local airport or bus terminal. Surely there are TW members that would go look at a local to them truck for you.
Just tossing out some options.

 

I'd buy that just for the frame and power train.

Edit: My frame is borderline, and I want this truck to last another 10 years.

 

I bought my 2001 TRD offroad for $13K at 101K miles 2 years ago. At the time I thought the price to be a bit steep, but since then the truck has proven to be worth the price 100%. I've put 30k miles on it in a year in a half and I've no issues what so ever with standard maintenance. I've made multiple trips from Virginia to Kansas had no hiccups what-so-ever. I off-road the vehicle on occasion and couldn't think of a complaint if I tried. If I had to I would buy the vehicle again without blinking an eye.

 

Scam?

https://monroe.craigslist.org/cto/d/tacoma-wd/6238456562.html

 

I paid $24k for my 2004 TRD 4x4 double cab. Of course, that was in 2005... lol

It's worth whatever someone is willing to pay for it. I see some adds where it's pretty obvious wife told him to sell it, so he puts it up for a redonk price so he can tell her no one wants it. But these Tacos do keep their value really well. For the most part, they are worth the extra cash. And don't compare Toyota to GM or Dodge ever again. There are no comparisons - you are trying to compare different trucks.

If you want a good quality truck and you aren't hauling 10,000 pounds, get a Yoda.

 

I was willing to pay $10,000.00 to a local repair shop who's owner is a friend, but he couldn't find a frame anywhere. He even called the Manufactures of the frames and they didn't have any. In his words "something is really fishy about this whole thing"! If people wanted them bad enough to pay for putting a new frame under them, a company could make some real money doing it by having XX number of new frames made (correctly) and training crews to replace them.
Look at all the people who are out of jobs in Detroit because of car manufactures pulling out, there you have a lot of people that I bet would jump at jobs they were basically trained to do (just one example). Any one could open a company and secure loans from the government, not just for the frames but changing the vehicle to modifications the way people wanted them as a side venture. They also wouldn't have to be just frame related, they could be any vehicle, just think of the possibilities! If I wasn't getting older with health problems I would jump all over an opportunity like this. I could talk about the golden opportunity of this situation for hours.

 

That paint on the roof and hood disappearing is due to people taking them through car washes with those BIG brushes that literally sand the paint off. My 2001 was like that but I had a new front end put on the truck and the roof repainted. NO car washes like that for my baby ever again!!!

 

Don't agree with you on some points, First off the body style is a big plus for a lot of people, I think it is the sharpest style Toyota ever made. The V6 engine is an engineering masterpiece, my 1999 had 180,000 miles on it and my 2001 has just over 100,000. I use Moble 1 oil only. I NEVER had to top either ones oil off by adding oil between changes that's how tight and right the seals are in the design. It has a Cult following because of its style and durability and the Gen 2 Tacoma's don't have the same V6 engine and style is only so so in my book! They also have frame problems with rust.
The Gen 1 didn't get a lot of frame changes because Toyota had a lawsuit against Chrysler who had the frame contract and only the existing frames were used up from the contract, they wouldn't make more, (ask them why)! Toyota won the lawsuit by the way, research and find out how much they were awarded, you will be amazed!

As for looks go down to a dealership and look at the new ones (ugly), checkout all the plastic on them, front end collision on anything is going to tear it off, Then check the price, that will tear you off!

 

Dear Changeling,

I never criticized the 5VZ-FE in my post. I completely agree with you on the body style and the 5VZ-FE of first generations, but the truth be told, there are not a lot of them left that are unmolested.

Take it easy,
Paul