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.
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!
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.