Let the record show that this thread is like pheromones to me. TOY DNA is STRONG in here right now.
Dennis, do you mean model year '06 or calendar year '06?
As good as these vehicles hold their value, they are vehicles and do depreciate. The '03 Sequoia we bought for 35 plus tax in December 2002 is probably worth mid 20's today.
I've heard from a friend who's in the market that a new Double Cab can be had for well under 30 and that a new-model Taco Double Cab is actually more expensive. This is a small jump from twenty and you get a much stronger engine, a much better warranty and that new-car smell. One minor note, I've heard a few people mention that visibility in the Sequoia (front end of the DC) is for some reason much better than in the prior Tundras. The downside to buying new right now is the HOPES of changes in the upcoming years which might throw your cycle off. Maybe by buying a four-year old truck now, you'll be ready to buy new in four years when the TOYOTA TURBO DIESEL HEAVY DUTY comes out.
All: if you're not members of Tundrasolutions.com, you're missing out. It's a HUGE, well-informed group of TOYOTA truck owners. Want to download the brake TSB mentioned by the wakejunky? Want to find the best alignment specs? Want to see mods? Want to know how twenty different wheel/tire combinations work on the Tundra and Sequoia? It's not all good, either. There are some lengthy strings on piston slap and other ugly cases.
If you were asking about a 2002 Expedition or Tahoe, I don't think you'd be hearing people talk about "you'll love it, it's bulletproof".
Someday I'll get a picture of our Seq and my pickup on here.
Finally, with the S22 the real average is 10.5 mpg. This isn't what the trip computer says, it's GPS corrected mileage, and the sample size is easily 4000 miles. 14 and 17 is a good number most of the time unless you're being really conservative or aggressive. We've got the K&N intake kit and a TRD cat back, but don't think either really improve mileage much. If you drove our truck 65 unweighted, you'd probably be closer to 18-19. Not sure that you could improve on 14 around town. If we towed at 55, it'd probably be closer to 12-13.
I love the truck. Best vehicle we've ever owned. 36,000 and only complaints are rapid brake pad wear (probably gonna average 20K per $80 set but no warpage on the rotors) and my stock Dunflops barely made 30K (wasn't safe, shoulda done them at 25). Pretty short list for something so complex as a full-size SUV.