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I am in the process of body repair to my truck and painting is soon to follow. I was wondering should I remove all the paint to bare metal before painting it or just prep the old paint, and paint over it?
Removing the paint will yield the best results. It all depends on what quality of paint job you want as an end result and how much time/money you are looking to spend.
The old paint can be considered a prime coat if in good condition. The problem is the year. In the late 80's and early 90's Ford had an adhesion issue. We've all seen the Ford's with the color lifting from the primer! If your's has this problem then it has to go to bare metal.
Also, if it's old enough to be laquer based, then you'd want to go to bare metal. Anything less than 25 years old with a solid bond should be blocked, and primed once. Not the typical 3 coats it takes for a quality finish.
Try and stick with one system. If you use PPG, then use the recommended products throughout, or whatever brand you choose.
I would remove all the paint from the areas that commonly rust out... just to make sure there isn't any rust.
I had bought what I thought was a mint, rust free box for my truck... some time with the sander and I found several rust holes around my wheel openings.