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I looked at a 1994 Ford F-150 extended cab 4x4 with a 302 and a 4r70w transmission I’m buying it from a high school friend it has 213,000 miles and some problems a couple of the lights don’t work and the tailgate won’t go down and the front gas tank is rusted I checked the oil pan it’s solid and the floors and cab supports are good but it’s rusted in the bed and fenders and under the extended cab part but the oil looks good the transmission fluid is bright red no discoloring seems healthy He mentioned a hard shifting from first to second might be a vss I haven’t looked up codes the brakes almost go to the floor low on fluid I think, and it starts really slow he has to crank it for 15-20 seconds but then it fires right off no smoke or funny noises he says it’s a bad connection but I’m not sure the battery is 3 years old maybe it’s that? interior of the truck is in nice shape only a tear in drivers seat I’m giving him 700$ for the truck and he’s fixing the lights and tailgate what do you ford experts think? As this is my first newish ford anything besides my 90 ford, is there anything else I should look at thanks?
Sounds like lots of little issues to fix. I'd want to be sure the body and frame are solid enough to be worth fixing all the little issues. There comes a point when the body and/or frame is just too shot to mess with any further and that's when it's time to take it to the junkyard. Not saying that particular truck belongs in the junkyard but do a careful inspection because the rust issues have obviously started.
last month I bought a 96 f250 but same cab config, bed config as yours but with a 460/auto and 4wd, for $1000. I am in phoenix, so no rust whatsoever, but it's a project no doubt about it. Originally bought to flip since these are going for $3500+ beat to hell here. I was actually sitting at my computer right now tallying up all my expenses on it right now to decide what's left how crazy I go. With a rusted truck, because I've never really lived somewhere that that's common place, I can't personally see myself buying a rusted up truck unless it's less than $1000. So i think you got a pretty good deal on it, especially since you could easily part it for a lot more. This is my first gas engine Ford i've ever owned, and I have found a lot of things on this truck are easier to fix than on any chevy or dodge truck I've worked on that was also gas. If you are looking for a project, this would be a good truck to learn body work on it seems, as that is usually some of the most expensive work you can have done on a vehicle professionally. Or, leave it as is, and hopefully it provides years of use for whatever you need it for.