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I would never even consider a 6.4 unless it was under Ford warranty for the entire life I own it.. Not gonna happen. I owned a 6.0, and loved it. At 105k miles it was the best truck I've ever owned. No drama, no anything. All depends on how it was cared for. Bottom line, the 6.0 you can still fix most things on your own at home. Almost nothing on the 6.4 is like that. I agree with the above, I wouldn't buy either truck with those miles for that $$$.
Get the 6.0 as cheap as you can. Follow the advice in this thread to find every flaw in the engine you can and wiggle that price down until he either says yes or makes you leave him alone: www.ford-trucks.com/forums/969253-buying-a-used-6-0l.html
Trim level is going to make the price somewhat-reasonable or absolutely bat**** insane. The '04 had better be at least a Lariat, more like a King Ranch for that price. XLT or XL, the guy is nuts. Down here an 03-04 KR with less than 200k can get $10-15k since there's normally zero rust on the entire truck, so if it seems like a solid chassis and you do the homework on the engine, that would be the better deal.
I'm just going to reiterate how important it is to go through the entire thread I posted a link to, to understand ALL of it, and to be willing to do what it says. If you don't and then buy a lemon, it's going to cost you a lot more than some time and buying a Scangauge up front will.
I am just in the peliminary stage right now. I will be looking for real towards the end of the month. The 6.4 just looked like such a good deal on the surface but did not feel right, if that makes sense. I am tranfering to Baltimore from AZ and work for Manheim Auto auction and currently work in thier transportation division. I may have to expand my search and get one shipped from down in TX
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.