These days, we're spoiled when it comes to pickup options. In the full-size segment we've got everything from the Toyota Tundra to the Chevrolet Silverado, we've got more mid-sizes than we know what to do with, and there are appealing compacts like the Ford Maverick to pick from. Unfortunately, new vehicle prices are higher than ever, hitting $50,326 late last year.This means that not all of us have the income to take our pick from these new trucks. Thankfully, the third-generation Ford Rangers are currently selling at some very attractive prices, with 2011 models going for an average of under $12,000. Here's everything you need to know if you're thinking of buying one of these almost-classics. A 1998-2011 Ranger Is Still A Trooper Ford The third-generation Ford Ranger had a nice long run, from the 1998 to 2011 model years. Early model third-gen Rangers ran a 2.5-liter straight-four engine, producing up to 119 hp. For 2002, this was swapped out for a 2.3-liter straight-four which the truck would carry to the end of this generation. The Ranger was also offered with various V6 engines over the years.Here's what your engine options looked like by the end of the third generation.Towing capacity varies by configuration. Whichever engine you go with, you'll want an automatic transmission and a regular cab to get the most pulling power out of your truck.In our last review for the third-gen Ford Ranger, we noted the Ranger's impressive capability when it came to work duty, with a maximum payload capacity of 1,560 lbs. We also like the truck's potential for off-roading, with available HD gas-charged shocks, a nimble 111.5-inch wheelbase, and up to 8.9 inches of ground clearance. The Third-Gen Ranger Saw A Number Of Changes Over The Years Ford If you're looking for an older model, here's a full timeline for available engines across all Ford Ranger model years for the third generation.Outside of the engine lineup, the Ranger got some noticeable visual redesigns over the years, and the occasional cabin upgrade, keeping it relatively modern even as it got a little long in the tooth.2001 - New grille and headlights. 2004 - Grille enlarged to make it look more like a little brother to the Ford F-150. The truck also received some new front seats this year. 2005 - The last model year with a FlareSide bed option 2006 - The grille was updated again to match the F-Series, with the iconic 3-slot look. The taillights and fender badging were redesigned, as well. 2007 - An updated steering wheel, standard MP3 auxiliary jacks, and some interior layout reconfiguration. 2010 - The final cosmetic change to the Ranger saw dealer-installed graphics packages being offered, while the extended-length bed became exclusive to XL fleet models. A 2001 or later model year 4x4 with a V6 is going to offer you the most power, and we're big fans of the Cologne V6. But there isn't a dud in the engine lineup. If you find a 2.3-liter model or a 3.0 that meets your needs at a fair price, we don't mind recommending it. Third-Gen Rangers Are Pretty Reliable FordJ.D. Power provides Quality & Reliability ratings for the Ford Ranger dating back to the 2007 model year. Meanwhile, RepairPal doesn't have an annual maintenance estimate for every single model year, but they have enough for us to get a broad average based on the five model years of the third generation. Here's what that looks like.We're not the least bit surprised to find that J.D. Power has heaped so much praise on the truck, having named it one of our own most reliable used pickups. What Can Go Wrong With A Third-Gen Ranger? Ford If we take a look at CarComplaints, we find that Ford Rangers generally become more reliable with each passing model year, but it's not a straight line, and there are plenty of ups and downs.Of the third generation, the 2009 and 2010 models are the least troubled, with just 12 complaints each. Most of these are for fairly minor issues like chipping paint, although a 2010 owner reports replacing a leaky gasket at 37,000 miles, while two 2009 owners report excessive engine vibration at just 1,650 miles, with no cause or solution reported.The 1999 Ranger comes in with 95 complaints, leading the pack, with 30 of these being for electrical issues, including wipers activating by themselves and dome lights refusing to turn off. That must feel like having the truck equivalent of a poltergeist. More worrying would be 12 engine complaints for hard starts and rough idling, and cracked cylinder heads leading to engine repairs and replacements averaging $3,500 a fix at just 101,800 miles.Generally speaking, more complaints tend to track with higher sales. The Ranger has been one of America's favorite trucks for a long time, and Ford was selling a minimum of 55,000 of these trucks a year from 2009 to 2011, so these numbers are fairly low for such a popular truck. What Will A Third-Gen Ranger Cost You In 2026? Ford Our price trends tool, for the 2009-2011 model years, shows the following numbers, based on recent sales.There are some outliers here. $995 for a used 2011 Ford Ranger is remarkably low, and you shouldn't expect to see listings like that popping up all that often, even for a fixer-upper. But, that's what averages are for. $995 may be preposterously low, but an average sale price of $10,472 across all three model years sounds reasonable enough.If we want to take a look at what people are actually selling, here's what we turn up. A 146,575-mile 2000 Base Ranger is selling for $5,495 in New Jersey. An 83,086-mile 2010 Ranger is selling for $11,500 in Washington. A 152,062-mile 2008 XLT is selling for $9,971 in Washington. An 82,288-mile 2010 XLT is selling for $19,000 in Oklahoma. A 97,435-mile 2000 XLT is selling for $12,500 in Oregon. A 232,684-mile 1999 XL is selling for $5,500 in Georgia. An 88,132-mile 2007 XLT is selling for $13,990 in Oregon. Based on these listings, you should be able to buy an early model, without too much mileage on the odometer, for well under $10,000, which is fine and dandy if you're looking for a beater or a farm truck that can pack on a lot of moderate-intensity miles.If you're looking for a daily-driver, it wouldn't be a bad idea to budget around $15,000 for the purchase and look for something with under 100,000 miles on the odometer. We would say that anything approaching a quarter-million miles is too much mileage no matter the price. It's The Perfect Time To Buy A Third-Gen Ford Ranger Ford Right now seems to be the best possible time to buy a used third-gen Ranger. There are still plenty of models out there with fewer than 100,000 miles on the odometer, but average list prices are dirt cheap. We would suggest avoiding the problematic 1999 model, but it's hard to go wrong with anything produced this century.