Hey Scotty,
I've been thinking about trading in my 2002 Ford Ranger 3.0 4x2 automatic (~219k miles, still original motor and transmission) for something newer. Been eyeballing a new Toyota Tacoma SR5 with a crew cab, 6' bed and the 3.5L V6. Would this be a good way to go, or should I look at something else? Don't really want to go much bigger, but the Ford Maverick just wouldn't be a good fit for me, particularly with the short bed.
If your Ranger is running fine and not rusted out, I would hang onto it. Prices are ridiculous on cars and trucks right now.
Your Ranger may have some life left. In my experience, I have a '99 Ranger 3.0 with 285,400 miles. It's a 4×4, I had the transmission rebuilt at 251k. It wasn't to the point where it wasn't driveable, but it got stuck in overdrive sometimes. It also made a banging noise when I'd take-off (I found out later I was suckered into the rebuild job by a faulty slip yoke design that would lose lubrication, a common problem with these, nothing else was wrong with the transmission). The only real hiccup I've had other than that tranny stuff is the alternator went a couple months ago.
I put around 300 miles a week on mine. I plan on keeping it until the frame either rots out or the engine gives up the ghost. Ford made 'em good at one point (not Toyota good, but A LOT better than they make them now).