Just picked up an 2005 4.7 TRD AC, is it worth sinking more money into?

Hey everyone, excited to be here. Looking for honest feedback. Been looking for a 1st Gen for awhile. Love these trucks. Picked up a forest green 2005 4.7 TRD 4x4 AC for $12k usd. 120k miles. One owner. Garaged. Timing belt done 8 years ago at 90k miles. Dealer maintained. Have all the receipts, huge stack of papers. Frame is original, has some rust, mostly surface, but more than I’d like. Dealer inspected for recall, said it was solid and not eligible. Airbag and other recalls were performed. If areas look “wet” it’s fluid film I’ve been squirting. Engine mounts and most suspect spots seem hard, but some surface rust. Not much flaking, way better than many of these that turned to dust. Unfortunately there’s chemicals on the road during winter. Interior is nice. Body is nice. Transmission and all fluids have been kept up on, shifts really smooth. Drives well, smooth, and brakes straight. Hasn’t been driven as much lately. Old guy got sick/slower. His son sold it to me upon death.

I live in an expensive area where these are very hot. I’m confident I could sell it right now for what I paid, maybe more, it’s stupid. So the question is, whether it’s worth it to spend the additional $2-3k to get everything replaced? Money isn’t necessarily an issue, I have another commuter, I just want it to be some thing I hold onto and play with on the weekends. Not planning to off road, just go fishing, hiking, camping, getting firewood, etc. It will not get more than 2k miles per year max, and I drive slow.

Need to do LBJs (have oem ones on hand already), and would likely do the other suspension work (4600s, links, etc) while I’m in there. All fluids, all belts, water pump, thermostat, pulleys, tensioner, radiator, etc. should all probably be done. Not urgent, but probably smart. It all starts to add up…

After looking at the below pictures, let me know your thoughts, or other things I should consider. Can I get this to last me 10+ years? Too much rust? Would appreciate any thoughts. I’m totally OK selling this and getting my money back. Thanks for your support.

 

Welcome from LA (Lower Alabama)!

 

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