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my friend is looking at buying a 1985 f250 with the 5spd and 6.9 with 124 thousands, and the guy states that he thinks the head gasket is going out, he said a few weeks ago when he drove it it started smoking more then usual and it used a little water, so he parked it and then let it sit and moved it a couple days ago, ran it a few miles down the road for a like 15 minutes, it didn't smoke, there wasn't any water in the oil, but the it was a little lower on colant, wanting to know your guys opinion on what could be going on and how bad and if its just any good to mess with
Check for bubbles coming from the radiator into the overflow tank, That's an easy way to tell that compression is getting into the cooling system, as well as any water moisture/steam from the exhaust. Also check the oil condition and level in case the coolant disappearing is unrelated to the smoking and is actually an oil cooler issue. Even if the oil doesn't look like "milkshake", everything could have settled and the dipstick will read way overfull. Or it even could be just a coolant leak and a sticking injector.
fill radiator and overflow if you see bubbling thats a classic sign coolant is escaping into the cylinders. white smoke when the truck has warmed up is also a giveaway. also check the oil you can tell if it has coolant in it. i just redid my entire truck due to a head gasket all new seals for everything.