Need Advice
The best way to start is to go back this forum 6 months and read every post of interest. Maybe several years back.... there is a huge amount of advice on all the 61 -66 trucks, pros and cons.... advice on how to find a good one, what to walk away from, prices, you name it, it has been discussed here.
Get set in your mind what you want and do not compromise, a dollar spent on anything else is a wasted dollar you will not get back. You can not make a profit on these old trucks by buying and fixing and selling. You can make a buck on parting one out if you get it for scrap metal price.
I suggest a 4x4, 8 ft. bed, Flairside (stepside) for rarity. For looks, I like the early 4x4 highboys with a short Flairside. AC can be easiley be added to V8 at a cheaper cost than adding to a 6. Non 4x4 automatic is very nice and any overdrive is a great plus.
Use a parts catalog to evaluate any truck you are considering to see how much it will cost to repair.
Verify the frame VIN to the title and the chassis vin.
Good luck.

I would suggest 65 or newer, it was 65 when Ford went to the Twin I-beams making power steering & disc brakes very affordable. I wouldn't care a lot past the body, newer engines with OD trannys can be fitted in for better mpgs and power.
Finding good sheet metal is a top priority, running gear can wait. Long bed, short bed. 2wd. 4wd that's your call.
John
My best advice would be to look at as many different trucks as you can, just to get an idea of prices, conditions, etc. I looked at searchtempest.com (craigslist search engine that filters results by nearest distance to you) almost every day for 3-4 months before I got my '64. $1500-$2000 would get you anything from a running truck in decent shape to something rusted out or in pieces, may or may not have an engine. Decide what you want to spend and see the wide variety of conditions you'll find at that price, believe me it WILL vary.
Decide what's the furthest you would drive to get a vehicle. I wanted a '64-66 and there were never any for sale in my immediate area. The '64 was 1.5 hrs drive from me, we rented a trailer from Uhaul and went and got it.
Decide just how much of a "project" you're willing to take on, and what your budget will be. If you don't have a great deal of experience, I would suggest looking for as solid of a body as you can find. My opinion is that the mechanical work on these older vehicles is easier and less time consuming than bodywork (if you're just looking to make a driver vs high performance engine etc). When you're looking at the frame, look at the floor pans and mounts that attach the cab to the frame. Very common area for rust. Inline 6/300 is a great engine, but I didn't run across too many when I was looking. Mine has the inline 6/223 and I wish it had a little more power.
When you finally get your truck, purchase the appropriate shop manual.
Don't believe the "story"
Every truck I spoke with someone about had some big story about how "all it needed" was some simple/cheap repair. So simple/cheap, yet they won't do it before offering the vehicle for sale. Learn to decipher the code words (and always assume worst case scenario) such as "all it needs is the carb adjusted" = "needs a new carb". "All it needs is the clutch adjusted" = "needs a new clutch". On mine "all it needs is some brake line to the rear" = needed a new carb, all 4 tires, a new battery, and I'm trying to figure out some electrical issues. Hell brake line was the 1 thing it DIDN'T need, there was not a drop of brake fluid in the system, I looked all over and couldn't find any brake line that needed replaced, filled it and bled brakes and the brakes are fine, and there are no leaks anywhere. Don't consider buying a non running vehicle without considering the real possibility of having to replace the engine and/or transmission. Always assume the very worst possible case scenario when looking at a vehicle, and decide if you're willing to spend the time/$$$ to correct that.
The old goat must have been a paratooper ranger hell and back twice, brave SOB. The truck's right rear brake drum split the third time I hit the brakes on the way home. That truck was a disaster, not worth the $125 I gave for it. It rolled a main bearing a week later, most likely saving me from a wreck that had to be in the near future because the tie rods were nearly rotted through. Great learning experience for a first time truck.
Lesson: You cannot always trade a truck for the junk yard tow fee.
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It's always said, but I'll repeat it: buy the best truck you can afford. Rust repair, body work and paint are atrociously expensive and are not something easily learned by the beginner that will net good results. Most first attempts at paint and bodywork are colossal failures, because it's almost an art skill and most people don't have the patience for the hours and hours of sanding and prep that it takes to get a good result. A good repaint that you pay for will probably run around $3000 if the truck doesn't need much prep. Yes, really.
The interiors, OTOH, are not terribly expensive. You've got one seat, one cheezy but pricey headliner, and the floor covering of your choice. If you find one with a padded dash cover that is one piece that will cost a fortune, however.
Engine, trans, brakes, etc are all easy and most stuff is off-the-shelf at your local NAPA. Keeping these trucks going is a fairly easy thing. 65-66 V8s used the 'FE' engine found in Thunderbirds and other cars. It's a big, heavy pig but not a bad engine. The V8 used 61-64 was the 'Y-block' from the 1950s, and is more of a small block engine. Harder to find parts for and will cost more to rebuild if the need arises. The sixes have always been good engines; an easy upgrade is to swap in a later 300 six from a newer truck. Easy bolt-in and provides excellent torque and power. While it doesn't have the 'rumble' of an 8, they are IMO just as desirable. Anything else you find under the hood will be a swap (302, 351, etc) and should be looked at with a skeptical eye to see what kind of work was done to get it in there.
Paying good money up front is always cheaper than paying as you go. That $2500 truck that needs repainted and an engine rebuild will easily cost more than someone's truck that was restored five years ago and they are willing to part with for $8000. Plus, you get to enjoy it (and still tinker on it) instead of having it scattered around your garage for the next five years.
Ford Trucks for Ford Truck Enthusiasts
Take a look at this link: https://picasaweb.google.com/108191164546106790196
It will show you every sin you want to avoid when selecting a truck to buy. And if you have any questions, search the forums and or ask. Nothing worse than getting ripped off.







