I have a 1996 2500 Dodge club cab with the V10 gas motor and 245,000K on it that I bought new in 1996. It runs like a top, burns zero oil between oil changes and has no rust of any kind. It has new tires, all new tie rods, brakes etc and has always been maintained in top condition because I want a vehicle that runs perfectly when I am out hunting and fishing or travelling. With the winch and all the recovery gear it makes a great winter travel vehicle. Looks like a brand new truck.
Despite that, I just ordered a new 2021 Dodge 2500 8' box. The new truck will easily last me the next 26 years so I won't have to worry about whether the manufacturers will quit making gas pickups in my lifetime. I could easily get many more years out of my existing pickup but after 26 years of service it doesn't owe me a thing.
I hate rusted vehicles, so for that reason alone I would either properly fix the rust and mechanical issues or I would be looking for a different truck. My advice is, the high cost to fix it properly, versus replace would make it a pretty easy decision for me.
