Fix or buy new
 

Looking to get other people’s opinion on this. I have a 2003 f150 with 185k on it with a 5.4 for inspection I’ve been told it’s going to need both rockers replaced and both bumpers due to rust. For rockers I’ve gotten quotes from $1,500-$3,000 each. So now is it worth replacing and not owning a thing on it or buying another truck and having to finance.
Ive got people telling me to fix it and others saying don’t sink another penny into it. What makes this hard for me is I’m a college student so I don’t want to have more debt than I need. But I also don’t want to buy a cheap car and have the same issues every year with getting an inspection.

thanks everyone

I would keep it. Especially where your a college student. A new F150 could cost about 500 or more a month. You never know what could happen.

When a vehicle starts nickle and dimeing me, it's gone. Is that the only things wrong, or do you have to throw parts at it all the time?
I've never been in your situation, so I really don't know what to say.
Can you afford a newer reliable vehicle? I think that would be my deciding factor. Another big thing/warning, I don't think it would be fun being vehicle poor.

So far the engine has been solid it’s just been rust issues so far for the last few years I need to put anywhere between $500-$1,500 into it for inspection the only other issues I know of are the bed rails are getting soft and I do know that a strap to the fuel tank rusted off so that will probably need to be replaced for inspection. The frame is also solid

as financially with what I have and what I’m predicting to make over the summer I should be all set I just want to make the best decision I can

Sounds like your head is screwed on right. Just depends how much you like the truck as well. I don't like to lease, but just for conversation, have you thought about taking that $3G, and maybe leasing a new vehicle? Reliability would be pretty much assured, and no doubt lower operating costs, at least with fuel.
Your still a young guy, with the opportunity to make more money in a couple years or so, and you might have to bite the bullet and not get something like a Raptor, but Ford has a number of nice vehicles that won't likely break the bank.

The gas tank straps were recalled and will be replaced free. Just fix it and keep on trucking, at least until you get out of college.

I think they were already replaced because when I check the vin there is no active recall
I’ll have to check the records I was given when I bought the truck and see if it was done or not

yeah I’ve thought strongly about leasing but I really don’t like the idea of not having equity in it but it’s still not out of the question
thanks

I was in a somewhat similar situation as you about a year ago and ending up keeping the truck (2003 f150 ext cab with the fx4 package, 148k miles, 5.4, and also rusting rockers) I was looking for a new truck to better suit my family since my 03 is only an extended cab and I was looking for a crew cab. I found one with an msrp about 50k and with rebates was 43k or so and was offered 5500 for trade in which was actually really fair but the payments were still around 500-530 which was just too much for us at the time. So in the end the payments were too much and my truck had way more sentimental value for me(had it since 2009) to make money that tight so we traded my wifes xterra for an explorer with lower payments then some big life changes happened for me and I needed a commuter car so I got a 2018 focus which gets like 32mpg and much lower payments which with the explorer are still less than the truck. So now I have a little of everything I guess. Overall I would keep and run it to the ground until you can afford something you really want unless it worth a good bit now and still worth trading in.

Drive it rusty. Don't waste money on bodywork.