Bought this truck in 02 with 55,000 miles, great looking, still get compliments. Runs great, 200,000 mi, only changed one coil pack and 2 alternators. Some cold weather knock as of late but thats been all. Very happy and will stay with Ford, although never had Chevy truck trouble either. 4WD works great, tows good, breaking with trailer less than optimal as rear drum breaks are on this truck.
This is a well designed and solid built truck. Every thing is tight and working well after ten years. The only problem and it is a big problem is the transmission had the famous Ford shudder when trying to lock up. I have bought two new Ford SUVs but after this I will not buy another Ford after such a fatal flaw. If you have not had the shudder yet, it is coming.
We purchase the F-150 with 140,000 miles an know is over 220,000 miles an never rely had a problem only part we had to replace was an alternator, tires, and wiper blades. The F-150 still very original even has the original battery. The 4WD was amazing she could pass through the snow, and mud with no problem. Got amazing gas millage for a pickup, we could over 8 hours of driving without having to think were to stop for gas. Has the strong running 5.4(330) which is fun to drive around if you get what I mean. The box is pretty good size not to short or to long there is more space then some of the newer replacement. The F-150 was decent at towing you just may loose the good mpg other than that you will pull just find. We still have the F-150 but after 9 years of running strong she blew a sparkplug coil. We took it to get fix with our local mechanic and he end up making a big hole on the engine head so we now looking for an engine head to get it up an running.
Our F150 is 2WD and has the 4.6 Triton. I have been overall pleased with this motor. It has enough pep to haul me, my pianos, and my piano trailer once or twice a week. When it pulls a trailer I can count on about 14 mpg. Not loaded about 18 and up to 21 even. I pulled a car trailer and an old car home from Montana and it did great! My only gripe is the plugs. I didn't have one blow but had symptoms and took it in and had plugs, wires, the whole shoot and match for about $900. I didn't want to take the chance of blowing a head. If you don't catch that stuff, it sounds like real trouble.
My truck has the 4.2 V6. For towing you definetly need the V8. The good news is my fuel economy is 19.7 on the freeway and 15.5 city. Not bad for a full size truck. Very reliable to drive and very comfortable for a familly of 4 when traveling. I would tell anyone to buy one for a second or even a first familly vehicle.