That's actually pretty solid for a 50 year old truck. Don't let it go to the scrapper. If you don't want it, pass the deal along to someone that wants to save it.
That truck is quite salvageable, but it will require money and effort. Make a list of all the parts it will need....
tires, wheel cylinders, brake lines, fuel pump, carb, body work, paint, etc.
Figure what the parts will cost, and estimate how much time each repair will take. Then multiply the cost of the parts X 2, and triple the number of hours you figure it will take and you will have a very close estimate of what it will cost you in time and money.
Check out some of the rust repairs on metalmeet.com
then you'll see that truck is a pretty good starting place for a project. You'll also learn the correct way to fabricate and weld in patch panels if you hang around on the metalmeet site.
If you pass on the truck post on the AACA, HAMB and Ford truck enthusiasts sites. Someone will want to save it.
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