A Used Toyota Tacoma Isn't Cheap. Here's Why It's Still Worth Buying

The third-generation Tacoma has excellent off-road capability, a loyal following, and surprisingly strong resale values. But is Toyota's legendary pickup actually worth the premium?

By: Jeff Glucker

Oct 13, at 11:00am ET

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The Toyota Tacoma has a problem. It's too popular for its own good. Most used vehicles lose a substantial portion of their value after a decade. The Tacoma, meanwhile, seems determined to ignore the concept of depreciation entirely. Even early examples of the third-generation truck, which debuted for 2016, can still command more than $20,000.

And that's a lot of money for a decade-old pickup with a rough ride, questionable seating position, and an automatic transmission that occasionally seems confused about what gear it wants.

But people keep buying them, and there's a reason for that.

Why Buy A Used Toyota Tacoma?

There are plenty of midsize trucks that offer more power, better road manners, or more modern technology. The Tacoma's appeal comes from its combination of capability, durability, and old-fashioned simplicity.

Introduced for 2016, the third-generation Tacoma received an updated frame, more aggressive styling, a revised interior, and a new 3.5-liter V6 producing 278 horsepower and 265 pound-feet of torque. Buyers could also choose a 2.7-liter four-cylinder making 159 horsepower, though the V6 is unquestionably the more desirable engine.

The real magic of the Tacoma, however, happens when you leave the pavement. When we reviewed the truck in 2016, we said that our test truck "wearing Michelin LTX M/S2 rubber, billygoated over and through everything I came across."

'The Toyota seemed to have every bit of ground clearance I could ask for in a Snowbelt state, but without sacrificing a reasonable hip-point, and easy ingress/egress from the cabin.'
'It may be somewhat polarizing, but I love the amped-up exterior styling of this Tacoma. Especially with the bright blue paint, chromed mirror caps, and bigger wheels, it reads as a very suitable “beach truck,” or similar.'
'As is the case in the larger Tundra, the Taco’s cabin seems designed to be used with thick gloves on. Buttons, knobs, and switches are all very chunky and simple to get hold of.'

Even a relatively ordinary four-wheel-drive Tacoma is surprisingly capable in difficult terrain.

How Much Is A Used Toyota Tacoma?

Prepare for a bit of frustration. The Tacoma's reputation for durability has helped keep used prices unusually high. Even trucks approaching their tenth birthday can cost as much as significantly newer competitors.

According to Kelley Blue Book, a 2016 Tacoma Access Cab SR has a current Fair Purchase Price of approximately $16,450. A more desirable TRD Off-Road Double Cab with the five-foot bed is closer to $23,900. The prices climb quickly as you move toward newer model years.

2016 Tacoma TRD Off-Road: $23,900
2018 Tacoma TRD Off-Road: $27,100
2020 Tacoma TRD Off-Road: $30,900
2023 Tacoma TRD Off-Road: $35,400

Prices reflect KBB national Fair Purchase Price estimates for Double Cab, five-foot-bed configurations in good condition, as of October 2026. Mileage, drivetrain, equipment, condition, and location can change individual values.

Which Toyota Tacoma Should You Buy?

The sweet spot is a 2018 to 2020 Tacoma TRD Off-Road with the 3.5-liter V6 and four-wheel drive. The 2018 model year is particularly appealing because Toyota made its Safety Sense P suite standard across the entire Tacoma lineup. That means automatic emergency braking, adaptive cruise control, automatic high beams, and lane-departure warning became standard equipment.

But don't overlook earlier examples. A well-maintained 2016 or 2017 Tacoma with reasonable mileage can offer essentially the same mechanical experience for considerably less money.

The SR5 is also worth considering. In our original 2016 review, we identified a V6-powered, four-wheel-drive SR5 with the six-foot bed as the best compromise between work and play. That argument still holds up today.

The TRD Pro is tempting, particularly with its additional off-road hardware and more aggressive styling. But unless you're regularly tackling difficult trails, it's hard to justify the additional expense over a TRD Off-Road.

What Could Go Wrong?

The Tacoma has a strong reputation for reliability, but the third-generation truck isn't immune to problems. And because these vehicles retain their value so well, paying a premium for a neglected example can quickly become expensive.

One of the most frequently discussed complaints involves the six-speed automatic transmission. Early trucks could exhibit harsh shifts, delayed engagement, and excessive gear hunting. Toyota issued technical service bulletin T-SB-0077-16 addressing several of these behaviors with updated engine control software.

Make sure any Tacoma you're considering shifts smoothly, particularly when accelerating uphill or transitioning between lower gears.

Oil leaks are another potential concern. Some V6 engines can develop leaks around the timing-cover area, and Toyota also issued a bulletin addressing leaks from cam sensor bolt holes on certain early vehicles. These repairs can become expensive because of the labor involved.

Water intrusion is worth checking, too. Toyota acknowledged that the high-mounted third brake light on certain 2016 through 2019 Double Cab trucks could leak into the interior. A limited-service campaign addressed the problem, although its stated expiration date was April 30, 2025. Check for evidence of previous repairs and look for water stains around the rear headliner.

Finally, inspect the underside carefully. Tacomas frequently spend time off-road, so look for damaged skid plates, bent suspension components, fluid leaks, corrosion, and signs of poorly installed modifications. A lifted truck on oversized tires might look appealing, but it could also have lived a significantly harder life than a stock example.

What Else Could You Buy?

The most obvious alternatives are the Chevrolet Colorado and GMC Canyon. Both offered strong V6 engines, respectable towing capability, and generally more comfortable road manners than the Tacoma. Depending on configuration, they can also be considerably more affordable on the used market.

The Ford Ranger returned to the United States for 2019 with a punchy turbocharged four-cylinder engine and a 10-speed automatic. It's quicker and feels more responsive than the Tacoma. Also, the seating position is quite superior for taller folk.

Then there's the Nissan Frontier. The previous-generation truck was dated even when the Tacoma debuted in 2016, but that simplicity also made it an appealing budget alternative. The redesigned Frontier that arrived for 2022 is worth considering if you want a newer truck with a naturally aspirated V6.

The Honda Ridgeline is arguably the smartest choice for buyers who spend almost all their time on pavement. Its more car-like construction gives it better ride quality, a more comfortable interior, and excellent everyday usability. It just doesn't have the same off-road credentials.

And if your adventures require serious trail capability, a Jeep Gladiator offers solid axles, removable body panels, and genuine rock-crawling talent.

Each of these trucks does something better than the Tacoma. Few, however, offer quite the same combination of ruggedness, aftermarket support, and resale strength.

Why The Toyota Tacoma Makes Sense

The third-generation Tacoma isn't the best midsize truck by every objective measure. It's not the most comfortable, it doesn't have the strongest engine, and it certainly isn't the least expensive. But there's something appealing about a truck that knows exactly what it wants to be.

The Tacoma feels purpose-built for people who use their trucks as more than transportation. It's equally at home carrying lumber, navigating snowy roads, or hauling camping gear down a trail in the middle of nowhere.

And unlike some modern pickups, it doesn't rely on enormous screens or complicated powertrains to make its case. At least, not in this generation Tacoma.

What do you think?

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Of course, the Tacoma's greatest strength is also its biggest weakness. That reputation for durability and capability means used examples command substantial premiums. You're paying for the truck, but you're also paying for the Toyota badge and everything people associate with it.

Find a clean third-generation Tacoma with a documented maintenance history, and there's a strong possibility it'll be ready for plenty more adventures. Just don't expect a bargain.