This last weekend, I noticed my '94 Ford Ranger 4.0L V6 was loosing coolant.  Over driving ~100 miles, I added maybe 1.5 gallons of coolant total.  Each time I fill it up, it seems to be topped off or full, but it still seems to end up being low on coolant.  On Saturday, I was running som errands w/the Ranger and noticed it would be puffing white smoke/water vapor, similar to the puffs you'd see in the morning when the cat is warming up... but this was well into the day and I had been driving the thing for quite some time!  I also smelled some burnt coolant after parking.  The odd thing is, I just changed the oil and it looked jet black... none of the "milky" look that I've heard can happen when headgaskets give.

So, my question is... how much would the parts+labor be to fix this thing?  Does the Ford 4.0L V6 have a tendency to warp/crack?  What other problem(s) could it be?  And being fed up with the problems it's caused me.... anyone have hookups with a wholesaler that would buy it?

Yes, it is burning coolant. A failed headgasket will not always contaminate the oil with coolant (or vice versa). Can you see oil in the coolant? Is there another failure that could cause burning coolant, such as an intake manifold gasket?

Hmm... good point about checking for another point of failure. I've read that the intake manifold bolts have a tendency to loosen, so if there's water passages in there, that could be the culprit. I can't find a diagram with water passages and such, but I'll check my Chilton's manual when I get home.

Well, I brought it to a mechanic a couple days ago, and he diagnosed head gasket. Quoted me $1150 for repairs. Yikes! Think it's time to walk away. Anybody have tips on how or where to sell it? If Autotrader is to be believed, running Ford Rangers of my vintage go for about 2000-3500, which is optimistic if you ask me. San Diego craigslist has a lower range, 1200-2500. Any tips or advice for getting rid of an old vehicle?

Even nice head gaskets are "cheap". It's the labor rate where they get you. I would try and sell through Craigslist and when your looking at comps, look for the ones with mechanical flaws to better price point yours. Obviously your Ranger is not worth as much as one with good head gaskets in similar condition. Read Steve's recent article about Hi Po Miler. He had a section on negotiating that seems just about perfect, whether your selling or buying. I typically have pretty good luck with Craigslist but a quick way to weed out some of the not so serious buyers can be just to leave a number rather than have people respond via e-mail. People love to ask all sorts of questions online, people who call are the ones more likely to show up and take a serious look.

Great tips, Dr. Bruce. True, the head gasket kit from O'Reilly is only $130, it's just a matter of tearing everything apart, removing the old gasket (I hated removing the water pump gasket), and then putting it all back in the correct order. It's somewhat tempting to try to do on my own... if I could find a couple free weekends, it'd be do-able for sure.

Re-read the negotiation tips from Hi-Po-Miler. Translating the tips to seller's tips:

1. Post your asking price 10% higher than you want to get for the car.
2. Negotiate over the phone as much as possible. Don't jump at the first sight of a wad of $100's.
3. Be up front about all the car's defects when you post the ad.
4. Silence is golden. Talk less. Let the buyer talk his way closer to your asking price.
5. Be patient and wait to get the price you want for your vehicle (assuming you have this luxury)

I've posted an ad to craigslist (and looked at nearly every Ranger ad... some people are spam posting!!), so we'll see if anyone bites. I like your tip for phone contact only, great idea. We'll see how it works out!!