I bought my 1992 F-150 XLT with 100,000 miles already on it. I had to put an new automatic transmission in it with in six months. I had a small electrical fire when I put a new alternator on it, the rotors over heates and the calipurs were of poor quality, and I have had five accidents in this truck. Once you get past the minor problems, its not a bad truck 225,000+ on the original 6 cyl motor. I do love this truck.
My 2wd excab, LB has been in my driveway for almost a year. I go to the dump and back, 4miles RT, and occasionally to Home Depot. Perfect for my needs, wanted 4x4, but no sense in the extra parts to brake for what i use it for. Spent $900 and worth every penny. Just rolled over 100k on it. My only problem with it is the way I drive it, it will probably last forever so I have no excuse to get a newer truck. Replaced a rusted brake equilizer, had a new clutch, slave, and power steering pump before I got it. Slow as molasses on a cold day, but smooth as silk on the highway. As a bottom-of- the-line work truck it rates a 10. No idea on gas mileage. I use about a tank of gas every two months.
Good power from 5.8L engine, but poor fuel economy (12-14 mpg city/hwy). Comfortable front captains chairs, rear seat very uncomfortable for adults. Replaced both fuel pumps (dual tanks), and rare situation of a intake manifold bolt rusting in two resulting in a coolant leak at 43,000 miles; required removal of cylinder head to extract portion of bolt. No other problems.
It has over 250,000 miles and still runs on the original 351. The trans finally gave at 240 and it is now sporting a c6. This truck will take any thing you can give it. I jump it, take it off-road and drive it every day. The truck is fast for being what it is. I can out run almost any new Chevy and some HEMI Dodges too!