Not much metal left. Body filler isn't made for that, I think you're being a bit optimistic. Usually if you don't do jobs like that right you end up revisiting them so it's more costly in the long run.

 

Don't laugh. (OK, chuckle if you want to.)

On my '99 with silver-painted lowers, I applied a few layers of aluminized furnace duct tape from wheel well to wheel well it weathered to a dull finish that actually matched the paint pretty well, and looked decent for a couple of years. In the end, though, the metal disintegrated until there wasn't enough left to hold the tape. Mine looked more like your pic #2 with a couple small holes/soft spots though. I didn't have anything like pic #1.

I agree with the other statements above. The only way to stop your damage now is to cut out the bad metal and install new.

 

Also it looks like it's rotting out from the inside is it common to have leaks in there?

 

If you look from the underside/inside, you'll see that the rockers aren't sealed. Dirt, dust, grit, etc will settle in there and hold moisture. A "perfect storm" for rust. The best preventative is shooting undercoating in there when new or at least before rust starts. That reminds me... I should do the '03.

 

I got a couple quotes to have metal welded it's about $2000 per side. I just bought this truck for $2700 so paying $4000 to fix 2 holes is out of the question. Should I just clean it out spray in some rust converter and let it go?

 

The decision is yours. Folks have given ideas and recommendations. Only you can decide what is financially right for the value.

 

I see rust on the door seam and on the front fender, too, so it's invaded there and elsewhere on the vehicle as well. At this point, I don't see that you could ever stay ahead of it, especially when it's going to be repeatedly exposed to more road salt and moisture. It's a 20-ish year-old truck with rust issues. If it was mine, I'd concede that "it is what it is," and save my money toward the next vehicle.

 

x2. It's too far gone

 

you bought a 2700 dollar truck and that's exactly what you got.