Vintage Toyota Trucks: Collecting the N40 Hilux

Published 2024 | Old School Toyota Apparel

The N40 series Toyota Hilux (produced approximately 1979 to 1988 depending on market) is the Hilux generation most strongly associated with the TEQ branding era and the truck that built Toyota's global reputation for indestructibility. N40 Hilux values have risen significantly over the past decade as the enthusiasm that drove Land Cruiser values earlier has spread to the truck lineage.

N40 Hilux Overview

The N40 Hilux used the 20R and 22R four-cylinder engines, body-on-frame construction with generous ground clearance, and a mechanical simplicity that makes it attractive to restorers and drivers who value the ability to maintain and repair their vehicles without specialized equipment. In 4WD configuration, the N40 is a capable off-road truck by any era's standard.

2025 Values for N40 Hilux

Clean N40 Hilux trucks in driving condition are trading from $15,000 to $35,000 depending on condition, specification (2WD vs 4WD, regular vs extended cab), and regional market. Project vehicles with significant rust or mechanical issues start around $3,000 to $8,000. Professional restorations command $40,000 to $60,000 at the top end of the market.

What to Look For When Buying an N40

Frame rust is the primary concern. The N40 frame is robust but rust in the main rails makes restoration cost-prohibitive. Inspect under the vehicle and behind the front wheels carefully. Body rust follows predictable patterns at the rockers, lower quarters, and rear wheel arches. Engine condition is generally sound on well-maintained examples but check cooling system history carefully.