New-be! Should I buy!?
 

Well let me start off my saying Im new to the ranger seen. I picked up my first truck a 2000 F-350 6 speed with the 7.3 diesel. After driving it for a while Im looking for a beater to drive during the week and winter and leaving the super duty for the weekend and summer. So my buddies boss offered me a truck for $500, Im not sure if its a good deal or if Im gonna end up turning it into a money pit.
So let me describe this danger ranger.
1993 Reg. Cab Long Bed 4x4 4.0 V6 5 sped manuel XLT
-164,xxx
-Body is in astounding condition for an Ohio truck, one spot of rust on the bumper, than usual rust coating on the underside.
-Comes with extra set or 50% tires on rims and a cap (plan on selling anyways)

Bads
-Engine makes a knocking sound I really didnt listening to it closely to see if its coming from the top or bottom. My buddy said lifters but someone else said a knock(didnt describe where..just a knock)

-Tranny shifts fine but will get stuck in nuertral if you dont shift right into gear so you have to down shift every gear, PITA but its fine. So Im guessing syncros.

-Lastly clutch slips

So overall its a $500 running 4x4 truck. What do you guys that know these trucks think? Is this too problematic? How about the engine noise, Im gonna have a buddy who gaeurtess he can confirm if its a knock or a lifter issue when i look at it again. Even with a knock will it last for awhile, easy fixes, should I be more worried about the tranny. If the motors just lifters, should I just buy another used tranny assuing it comes with a clutch, if so how much would it cost probably. If she does blow up how much can I part it out for?

Thanks guys Id love to get and it be on the forum but cant afford to lose money on it. All thoughts, comments, and answer would be appreciated. Thank you very much!

I think for $500 you wouldn't get hurt too bad.

Will they let you take it to the mechanic first?

My buddy that went with me the first time and told me it was lifters is a diesel mechanic, the guy thats gonna dignose the knock next time I go is works on gas engine for his job he'll be able to give me a better imput.

If you have friends that are mechanics, I'd say buy it... buy a new clutch, figure out the knock, and pay them in beer and pizza to fix your truck. A running truck is worth $500. You could probly turn around and sell the wheels/tires and cap alone for that much if you decided not to keep it.

Well my other came to look at the ranger. He is positive it's a lifter or a rocker up top. And that theirs no lower end noise. Plus I got the guy down to $400 with the cap and wheel so Im pullin the trigger and looks like Im going the ranger bandwagon:439:

Can't go wrong for $400!