Fixing up my current ride or buying a new one?

[S Freud]

So right now I drive a 1997 Ford Ranger 2WD 5 speed. It has around 159,000 miles on it. Its in good running shape from what I can tell. I would like to put some time and money into now that I can. I have been considering a few things, new stereo system, new windshield, etc.

After talking to a few friends and my dad I am getting different opinions.

Some say its a waste to put money into it because of the mileage on it. That I would be better off trading it in now and getting the truck I want. I am torn between the idea of keeping and fixing up my current truck or trading it in and getting a nicer, lower mileage truck that I want.(Toyota tacoma)

Some reasons for not getting the new truck:

I like not having to make monthly payments since the truck I own is already paid for.

If I get said new truck I will have to pay for my own insurance(right now my parents pay for it)

I have been trying to ride my bike more in order to save money on gas, if I am making payments on a new truck I will feel semi obligated to drive it since I don't want to pay for something to sit there.

Reasons for getting a new truck:
Upgrade to things like AC, power steering, power locks and windows, more room since my current truck is a single cab with a bench seat.

I like how the tacoma sits higher.

4WD instead of 2WD, this would be nice since I drive the santiam in the winter time to go home for thanksgiving and winter break.

The obvious factor of cosmetics, getting a newer tacoma that looks nicer than my tired old pickup. I feel there is more possibility with a new truck with an extended cab.

Just to be clear I am not planning on a brand new 07' 08' Tacoma. I don't really like the body style. I plan to get an older one so it will be used.

Any input it appreciated.

Thanks

 

[ValValline]

Save your money (no upgrades just maintenance) and drive the Ford until it is dead and not worth fixing. Then get the truck you want with little or no payments.

 

[HeroOfPellinor]

Originally posted by: ValValline
Save your money (no upgrades just maintenance) and drive the Ford until it is dead and not worth fixing. Then get the truck you want with little or no payments.

Yup. Doesn't sound like you have compelling enough reasons to justify a new car, IMO.

 

[Pliablemoose]

I'd get a different car for entirely different reasons, Rangers are notoriously statistically over represented in injuries & deaths.

Even the current generation is well overdue for a redesign to greatly improve it's crash worthiness.

http://www.iihs.org/sr/pdfs/sr4003.pdf

 

[S Freud]

What do you guys think of putting in a new stereo and some basic upgrades? I'm not talking dvd player, just some new speakers and a new changer. Would it be useless to put money into the Ford? Such as a new bumper or new windshield? The windshield developed a hair crack along the bottom on the drivers side. It doesn't interfere with driving, its just more cosmetic then anything.

 

[deadken]

In NY if the crack in the Windshield goes into the path of the wipers, then it will fail NY State Safety Inspection. I don't know if you have a safety inspecition in Oregon, and if you do, what the law states about a cracked windshieldl. Personally, I think the advice you have gotten so far has been very sound. Maintain the truck you have now, and save as much as you can. If the bumper isn't necessary, I'd hold off on it. If you plan on keeping the truck for another 1 year and are thinking of a $800 Stereo system, I'd say forget the stereo. But if you might keep it another 1.5 - 2 years and you are looking at a $200 stereo system, then sure. I'd think you'd get your moneys worth out of it.

Good luck with your decision, and please post back on what you did and why. I know I'd be interested in finding out!

 

[thedarkwolf]

A new windshield is probably only $300 installed and thats them coming to your house to do it. You can always take the stereo out when you go to sell it and put it in another car. Power windows and locks in a small 2 door truck when you barely even have to lean over to do it manual isn't a big deal. The lack of a/c would be the one thing that would make me really think about getting something else. I did the no a/c thing for a long time and now that I have had it I am never going back NEVER!!!!

 

[nweaver]

how much can you pimp your old truck if you put $250 a month into it (the cost of a new truck payment). Not that I advocate dumping TONS into that truck, but people who say "oh, it's not worth dumping money into that old car" don't understand that in the end, you don't have a truck payment, so spending a few hundred is no big deal. Cars are the worst investment, and the ONLY way they can "make us money" us by being reliable enough to put lots of years/mileage on after they are paid off. I drive an 88 VW, and I'm hoping to dump 2K into the car this winter, and get it to last 5-6 more years without major costs. At that point, it'll be more and a total restore before I give it to my daughter (it'll be about that time when she gets her license).

 

[desy]

+ that truck has depreciated down what its going to really, buying a new truck will be depreciating a lot faster.

 

[Riverhound777]

I'd say keep it and put a little bit of money into it. The cost of a car payment and insurance is quite a bit. You can always take the stereo you put in it into your new car when you get one, it doesn't have to stay in the ranger. But you may want to add a car alarm and keep the volume down near your house and work. Getting you old truck broken into and your new stereo stolen really sucks.

 

[BUTCH1]

Does the Ranger have AC that's broken or was not included when built. How about the
power steering, haven't seen a vehicle that didn't have it in quite a while..

 

[xgsound]

I say limit the money you put in the truck. Replace the windshield if it fails inspection or is hard to see out of. Make sure the brakes and tires are good. Get an MP3 player for music. Save money to pay cash for the newer truck if at all possible. Then your only new payment will be insurance, and that will be bad enough.

Remember that the new truck payment will be + insurance, and full coverage at that. I take it you're young, so the insurance may be more than the car payment. Check with the insurance company for a quote for the truck you want to get to be sure of the amount.


Jim

 

[S Freud]

Thanks for all the replies

I have been tossing the idea back and forth and have the same thinking some of you do about putting what I would be paying on a new car into my old truck.

To answer some questions. The truck did not come with AC and from what I can tell does not have power steering, it is impossible to steer this thing with one hand. I have heard that you can install power steering and AC units but I'm sure thats expensive.
Some of the upgrades I would like to make.

Replace cracked windshield. Oregon does not do inspections, so failing is not a problem. Its more for cosmetics and me being tired of looking through a cracked window.

New speakers, sub and stereo. One of the two door speakers is blown and the one that isn't has a "sharp" sound to it. More like ear piercing. I would like to get a decent deck to hook my Ipod into along with a good set of door and rear speakers. The sub is optional and I need to find one that will fit where I need it.

New center console. The truck originally had a bench seat. I took that out and put two bucket seats in it since driving a manual with someone in the middle doesn't really work, plus I like the look of the new seats. I would like to build my own console by I am open to the idea of going to the salvage yard and tearing one out that I find that will fit. If anyone has any DIY console ideas, please let me know.

Lastly I would like to fix a few minor cosmetic things. I slid into a ditch two years ago during a bad winter and put a slight bend into the exhaust pipe and a dent into the rear bumper. I would like to fix those two things.

One idea that I have been tossing around is the idea of a lift kit and bigger tires. I am torn, I would like to raise the truck since it sits so low to the ground, but I don't want to give up gas mileage or have it look stupid since its a 2WD and they sit that low stock. I have seen some raised and they look ok, while some get that gapped out look in the wheel wells.

Any ideas, suggestions, and comments are welcome and appreciated.

Thanks

 

[jjmIII]

Guess what happens when you put money in an old truck? You still have an old truck!

Go find a 2 yr old Toyota, that you like.
Clean up the Ranger enough to sell it yourself.
Try to find a Toyota from a private party, or really shop around for a good deal.

Put all your Ranger money down, and any other cash you can scrape up. Try to take the smallest loan you can.

You'll love the new Toyota, and be glad your not putting $$$ into a Ranger with 160k on the clock.

I just did this with a 1998 F150 and picked up a 2005 F150. I only borrowed 12k and my 6 yr payment is $203 even. I plan to pay the loan off early, as I usually do. The original owner pd 32k (he said) for my truck 2 yrs ago!

Good Luck shopping -Jim

 

[Capt Caveman]

How many miles do you drive a year? How much money would you put into your old truck?

 

[The Stigenator]

Just fix teh windsheld.. and get sme decent speakers and HU from crutchfield.

That will keep you going.. forget the lift kit and stuff.

I myself am torn between getting new shocks and springs or not. Its only 500 bucks but i dont know if i should. If i do then i know my car will ride better and handle better, but if i dont it still drives fine though a bit soft into teh turns.
My issue is that if i get teh springs and stuff what if the car dies soon after.. though so far its running fine!

 

[sniperruff]

aren't used tacoma's priced similar to new ones?

 

[KK]

personally I'd keep the ranger. I have a 94 model that got 13xk miles on it and still runs fine. It may look like sh1t due to lack of cleaning, but it does the job. Of course I have AC too, but you're in oregon and it doesn't get too hot up there I would think. With regard to the windshield, if the crack bothers you, replace it. Mine has a crack also that runs from the very most passenger side all the way over to the driver side, but it's low enough that I don't notice it. Been like that for 5-6 years now.

Run the ranger til the wheels fall off, and during that time save for a new vehicle, that way when it dies, you'll have a lower payment and then can start paying your own insurance.

 

[S Freud]

New Tacomas are far more expensive then the used ones I am looking at. Plus I don't like the look of the new tacoma, its too sporty for me. I drive a lot too and from work during the summer and sometimes during the winter since its so rainy here, but usually take my bike unless the rain is unbearable.

The way I figure it is with the amount of one month of car payments I could do 50% of the repairs and upgrades I would like to make to my ranger. Its going strong with 160k miles.

 

[JeffreyLebowski]

Keep the Ranger, you can good a good head unit installed at most places for around $250. Speakers will run you about $200 for front and back. Obviously if you want a sub it's going to cost you the price of the sub, amp, and wiring kit, which you'll have to figure out how much you want to spend on all that.

Don't lift th truck and put bigger tires on it. It will kill your MPG and I'm guessing you have a 4 banger, so you're acceleration will be even worse than before.

I say, replace radio, tint and leave it be. Save 50% of the cost of the payments you would make if you got something else. This way you have money to buy something new in a year or 2, plus have a fall back incase something happens to the truck.