Which is why I suspect something's up. Dealers have vehicles like that... they're bait to get customers in, but once they see what it is (and that it's junk and not worth a penny), they can then pivot to something in better shape but with a lot more markup. Been there, done that, and that's why I generally avoid dealers. Never had a good experience. EVER.
Engine is probably shot. Body is shot. Tranny probably has paper thin clutches or something. But I mentioned it since maybe somebody here is more of a risk taker than me.
1984 F150: 300 L6, AOD, RWD. EEC IV / TFI, Feedback Carter YFA Carb. Stock everything but radio (for now).