The thing I was always told, and I always found true when it came to buying used/older cars was that 1000$ of parts/upgrades to a 2000$ car does not make a 3000$ car.
Buying and selling cars with super popular aftermarket support and scenes has showed me that when I'm comparing two cars; the car with a couple of mods here and there, like an intake, aftermarket shocks and bigger tires is worth less than the clean, stock car with a few things wrong.
These rangers fall into that category IMO, it's really hard to find one of these trucks that hasn't been chopped up and slapped back together these days, or had some ill conceived modifications done to it.
At the same time, one of these trucks with the "in the know" modifications done to em, and has been obviously cleaned and taken care of is a gem to find on the used market.
We will never recover all of the money we put into a car or a truck. We never turn a profit, except for a mechanic I know. He buys old cars for the right price, then puts new wheels and tires on them, buffs and waxes,
and sells them for a profit. He's done this 11 times already!
A buddy of mine bought a 2002 Ranger for $1,500. He added a junkyard brush guard, a used tonneau, a junkyard bedliner, junkyard flares, newer Craigslist wheels and tires, and sold it for $5,000.
Rangers are really popular. Another friend, Glenn, worked on the Ranger assembly line here in Saint Paul. He became a shade tree mechanic when Ford closed it down, but he continued to make a respectable living restoring restoring them. He's been wonderful. Whenever I need a need a small part or some advice, I just run over and ask.
Personally, I don't think it is worth the time and trouble. But for sure, the high price of new trucks has created a certain demand for used.
The rest of us will not make a profit but will sell an upgraded truck for a lot more than its plain Jane variant.
The $5,000.00 truck is on the right.