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I pulled the plastic bed liner from my 64. I was very afraid of what I would find. After pulling it, I'm still not sure what I have. I need to jack the truck up and get a light under it to fully know. Seems that a previous owner made some sort of repair but I can't tell if it was properly done without drilling out the rivets and seeing for myself. The rest of the bed looks decent. The brown stuff in the photos is dirt and leaves. Gonna do a better detail this weekend.
The design of the bed at the front of the truck sucked big time. You got that corrugated floor meeting almost flush with the front and then a flat metal support under the front leaving many very small openings. Especially the corner spots. Dirt gets trapped, never dries and rust forms eating away at both.
I remember when I got my truck I went through all the typical tight spots that collect debris. Got under the truck and cleaned each and every one of those narrow openings using a bent coat hanger and vacuum cleaner. Now with a tonneau cover I no longer have an issue collecting the inevitable crap floating down into that area and then getting wet.
Well to look at the bright side, the PO made the best repair he could and installed a bed liner to prevent dirt and debris from creating the same problem.
Mega common. Depends on what you find under there how serious of a problem you have. The only 'correct' way to fix it is section in a portion of bed from a donor since, despite us shouting for a patch panel for years, no one has elected to make one yet. If you plan to run the truck with a liner, then less cosmetically correct solutions would exist (which would NOT include pop rivets!).
Yeah, its not an easy spot to fix. Best way is to cut a piece out of another box. It could be fixed with a piece of flat sheetmetal as well, but with all the corrugations, its not easy.