Using oil, rust and over a grand in front end labor is a turn off. I believe I'd move on.
I'm thrifty like you. I have 3 of that era of truck. My '98 is a daily driver and had a bad trans at 157K when I bought it. I paid $1100 for the trans. I bought a new battery, I had idler and pitman arms replaced plus alignment. The AC leaks but a charge up holds it for a while. I bought 2 cases at a pawn shop for around $3 a can last year. The left side radiator tank has a crack. I've replaced the fuel pump, alternator and maybe something else. It has 235K miles on it, but no rust. If it uses oil, I don't know it. It's been a great truck. I'd drive it across country tonight---if I wanted to spend that much in fuel. It gets around 12 mpg and if it has a distributor cap and spark plugs, I don't know it. I've never looked at them. I change the oil. I drive it.
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