What is the best and cheapest way to get more horsepower and gas mileage out...

if you put a cold air intake in,or a performance chip you will have to have your ecu recalibrate or you will lose hp instead of gain.probably the cheapest way to get more hp would be to have your heads milled,you can get domed pistons,but you have to disasyble the whole engine to get those in. there really is no true cheap way,and in order to get more hp you have to sacrifice gas mileage,The only true way to get more hp is to have higher compression,a longer stroke (for torque) and a cam that has higher lift and longer duration.if you do that you will eat more gas but have more hp and torque.
 
You will not get more then 2-6Hp and 1-2 MPG with cold air intake and free flow converter with Borla muffler which cost 500.00. They have plenty of power and HP and torque mean little in Toyota as engineering such as torque starts at moment you touch gas on tacoma wjhere as a say Ranger or s-10 are slow as dirt and the Toyota 4 will still have better performance then a 6 in Ranger and only 4.3 in s-10 will be cometittion for it. HP means nothing for speed as it only gives top end and ability to stay at speed when you get to whatever that is. My old 1982 with 22R engine and 135HP and 125lbs of torque had a 4" lift with 34" superswampers and still went 100MPH and pulled a 15 yard dirt truck that got stuckin mud at construction site out when V8's could not. ask anyone who owned a Toyota with 22R.
 
A better intake (cold air) can improve gas mileage by being more efficient, as well as giving you more horsepower.

An exhaust system would also be more efficient (improving gas mileage) and giving you some horsepower.

Gains in mileage and horsepower are both relatively small though, and the process is usually expensive. Which is why most people don't even bother.

If you want real horsepower, you almost always have to sacrifice gas mileage.
 
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