im considering putting a new after market cold air intake in my 3.0 v6 engine to replace my stock one. i know very little about cars but have heard that this would increase my power and mpg. so i have several questions.
1) should i do it?
2) is this an easy thing to install?
3) what brand/model should i use?
4) would it void my warranty?
i am also planning on eventually getting a 40 series flowmaster muffler. would this sound good or bad in combination with the cold air intake?

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i personally wouldn't waste my money on one ford had designed the air box in the truck to flow as much cold air from behind the headlight as possible.
now if you want that sound that everyone loves to hear take the cover off pop the filter out and you'll see a tube coming out of the front of the lower part of the box,rip that tube out of the lower part of the box. reinstall the filter and lid and call it a day.

Maybe a tad bit different on a newer truck

Warning: No harm can come from this Mod. Some dealerships will try to fault any mod as a reason to deny warranty service, but this mod is not only hard to spot, but its completely reversible if you have second thoughts.

Tools Required:
-WD40
-Your hands

Start by following the instructions in your owners manual to remove the air filter. Picture one picks up from there:









It will take a good bit of tugging to break this loose the first time. Make sure it doesn't catch on any hoses or wires in the area.













It will take some wiggling around to get the bottom tabs to engage their holes. Again be sure not to catch any hoses or wires underneath the box as you push it back in!

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Layman's terms explanation of how this law affects you, your mods to your vehicle and the dealer can be found here
And an even easier to understand explanation of the law:

The Magnuson-Moss Warranty Act (15 U.S.C. 2302C) is a federal law which regulates warranties for the protection of consumers. The essence of the law concerning aftermarket auto parts is that a vehicle manufacturer may not condition a written or implied warranty on the consumers using parts or services which are identified by brand, trade, or corporate name (such as the vehicle maker's brand) unless the parts or service are provided free of charge. The law means that the use of an aftermarket part alone is not cause for denying the warranty. However, the law's protection does not extend to aftermarket parts in situations where such parts actually caused the damage being claimed under the warranty. Further, consumers are advised to be aware of any specific terms or conditions stated in the warranty which may result in its being voided. The law states in relevant part: "No warrantor of a consumer product may condition his written or implied warranty of such product on the consumers using, in connection with such product, any article or service (other than article or service provided without charge under the terms of the warranty) which is identified by brand, trade or corporate name..."

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I'll sum it up even better. If you show up to a dealer with a blown tranny and all your have is an intake then they really can't blame the intake for the blown tranny. They would have to prove that the extra 1 or 2 hp you get from the intake somehow overpowered the tranny. Now if you go in with a blown tranny but you have a 100 shot of nitrous then your screwed.

In the end though don't even bother with the intake unless you plan on doing pulleys, headers, tube and blah blah. Take the snorkel out and drive.

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2010 Magnetic Grey Metallic Toyota Tacoma Double Cab TRD offroad 4wd

so is it really worth it to change out the intake or should i just remove the snorkel to get that beautiful sound? i would like the gain in HP but if its not really worth the money t hat it would cost to buy an intake i would like to at least get a nicer sound from my engine. what type of change in the sound would taking the snorkel out give me?
and that info about the warrenty is very interesting.

sorry if im asking stupid questions. i dont know much about cars and like to ask so i can learn from all this.

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I'd say take the snorkel out. If you do everything to the truck then an intake will help but alone it won't do anything. That 4 banger can only pull in so much air.

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2010 Magnetic Grey Metallic Toyota Tacoma Double Cab TRD offroad 4wd

Only way to gain HP with CAI is to add exhaust headers tuner and you will get HP

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whats the purpose of the snorkel?

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To quiet the engine down.

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2010 Magnetic Grey Metallic Toyota Tacoma Double Cab TRD offroad 4wd

thats lame. i think im going to be popping that out then. and if i dont like it i can just pop it back right?

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Yes this is easily reversible if you don't like it

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awesome. i think i might pop mine off this weekend. ill let you all know how it goes.

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what sound, please explain how it makes it sound different or "it gives you that sound everone loves to hear"...

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It just does. The opening inside the box is small so I"m guessing that quiets it down. Without it you can definitely hear a growl. Try it. You can always reverse it.

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2010 Magnetic Grey Metallic Toyota Tacoma Double Cab TRD offroad 4wd