Can you enjoy the truck "AS-IS", without fixing the rust? If you will enjoy it, then go for it.
Your friend is correct, it will cost you much more to fix that truck than to buy one in better condition. With that much rust it will eventually return to its present condition anyway.
To be safe, assume it will only be worth about scrap price when you want to sell it, regardless of how much you spend on repairs for it.
You might still spend another $2000 or more just to get it back into safe driving condition: tires; brakes; master cylinder; brake lines; battery; radiator boil, carburetor overhaul; fluids; and maybe a distributor overhaul are not unreasonable repairs for a 50 year old truck that has been sitting for six years. If the truck will do the job for you and it puts a smile on your face for a number of years, that's a small investment.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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