Rangers cost less to own than ANY other truck.
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I bought my Ranger simply because of what I saw underneath the thing. Compared to what everyone else was offering, the Ranger still had some semblance of a real axle under the front (the biggest parts that jumped out at me was it's real axle u-joints, and tierods & knuckles with some substance). The 8.8" rear I knew was the same axle used in F-150s (although I didn't know about it being 28 spline until some years later when it came time to installing a locker).
At the time, the 4.0L was also one of the highest-rated V6 engines for power (only the S-10 4.3 was rated 5 more HP, although it sure didn't feel like it when I drove one).
No regrets whatsoever on the purchase.
A buddy on the other hand, bought an almost-new Toyota right about the same time I bought my Ranger).
Left & right the thing had problems:
Broke the IFS frontend on many occasions (it would never stay aligned either), a corroded plug on the ignition module which left him stranded several times (engine would die intermittently, dealer could never find problem), engine (3.0L) kept blowing head gaskets, spun rod bearing at 80,000, blower fan quit, wiring int he steering column failed where it flexed because of the tilt steering... All this was within the 1st 6 years of him owning it, too. Yet people still try to tell me those things are so reliable(My dad's Camry he bought new hasn't been so great either
).
The 2.3 is not gutless compared to other 4 cyl trucks. Have you ever driven a 4 cyl S10? I drive a 2.3 Duratech and a number of 4 cyl S10s at work, and the Ranger will hand the S10s their asses any day. Even the S10 with the 5-speed manual is gutless compared to the automatic Ranger.