If it's been in Indiana its whole life there is likely plenty of rust to be found. It would have to be pretty far gone to be showing any signs of exterior rust, so unless it's been examined from underneath don't trust pics of a clean body.

One member in NJ was dismayed to find his bed supports were rusted off of his 2004 truck even though he was meticulous about washing it. The body looked flawless but it needed work. Not trying to scare you off, but that's even more reason to not overpay.

Kelly Blue Book shows a value of only $7,100 if it was a Lariat in excellent condition. If it is a Lariat and appears to be in good shape I would offer $6,500. If it's an XL or XLT and/or in less than good shape I would offer less. I recently went through this when I bought my Excursion, and I ended up looking online and flying south to buy a truck that's never been exposed to road salt. With a truck that's over ten years old that's worth something, as rust is cost-prohibitive in most cases to repair. It was completely worth the hassle of travelling to get mine.