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In more then 30 years building Dent Sides and Bump Sides I have only seen one truck that was rusted out and I swear it had to have been submerged in salt water. I cut the truck up into manageable pieces and sold it for scrap.
Herebouts I do not see that kind of rust unless the rig came from somewhere else and then I would throw that much rust away, it ain't worth fixing... Just as the bed on my truck is turning out to be.