Possible tow rig. Suggestions?

[Chadnutz]

I found a 1996 F-350 XL 4x4 Cruise control (formerly C/C) Reg Cab SRW White truck for
$9500 neg. It has 140k miles and was owned by some company who kept regular maintenence on it. I have not seen proof of this. It is very clean on the inside, and the outside has some minor nicks that were touched up. The hood 'almost' closes all the way. It has replacement bumpers front and rear. Draw tight in the rear. The bed has some scratches in it from sliding things in and out, but the paint in the bed is in better shape than my truck. The outside looks pretty clean other than the stuff I mentioned.

I talked to my mom thinking that she would laugh at me, but she actually considered it. I'd offer no more than $9000 (kbb value),
but I'm thinking more like $8500 because of said blemishes.

Payments would be $300/month for 3 years, which I can afford. Insurance would go up 300/6 months because I told the insurance co. that the Mazda would be primary vehicle and the Ford would be for pleasure.

I will not buy it without having Pickups Plus look at it first.

What do you guys think? No biased PS/Cummins/Duramax arguments. I realize that I run the risk of mechanical failure, in which case I get discounts on parts and my dad is a mechanic.

For those of you who have been pushing me to do the swap for so long: I will have to pay half if not all of my tuition from now on. I simply can not afford the swap without loans or credit card debt. If I can't have a trail rig, I may as well get a tow rig and ride shotgun on the trails. Besides, I'll set myself up for some Dana 60s 5 years from now when I finally have the means to build the Mazda without getting myself into debt.