So on the opposite end of Sydney's spectrum. I spent the last 2 years towing with a 1975 ford f350. It was cheap and got the job done.
However, I recently picked up a 2005 duramax 2500. All I can say is I will NEVER tow with an old POS truck again. The extra money is well worth it to me for the better ride, better pull and peace of mind that comes with driving a newer vehicle. I understand his point of view as it was just like mine until a month ago. At some point you start trading off repair bills for car payments and the difference isn't great enough to justify driving an old beater. To each his own.