Are the brakes showing any signs of leaking? If not, simply bleed them (this should be done anyways every couple of years). A local shop can do this for you, and it should be less than one hours labor plus a half bottle of brake fluid if you're not equipped with a decent brake bleeder tool.
As to the engine rear seal, my newly purchased Ranger had a rear main seal leaking. The truck had 213K on it when I bought it; it now has 215K. I did an oil change,as the dealer had put in 5w-20 motorcraft; great oil, but I felt it was too thin for the mileage this engine had, and switched to valvoline high mileage oil; it has additives that help soften engine seals. The rear seal rubber will get hard over the years, and this can be one reason for it to leak. I also added one quart of Bars leak rear main seal conditioner. This stuff works!
I posted about it a few months ago. Some folks are not fans of the so called "miracle fix" stuff, but this is simply an oil; no pellets or melting goo. it helps to softens the seals. Within about 100 miles, the seal stopped leaking. I plan to continue using it on every oil change. A 6 dollar expense verses removing the driveshaft, transmission, transfer case (I have a 4x4), torque converter, and flex plate just to replace a 5 dollar seal is just not something I care to do right now.
Last edited by bucko; 08-04-2014 at 11:08 AM.