I'm not painting. I'm going to guess it's surface rust (under carriage) and can be knocked off with a little TLC I would guess. Apparently, this is very common on all new F150's.
It is common. I talked to my dealer and he said they have f-150s that get delivered in July and they look like that. It just surface rust on the differential and axle tubes that don't have a lot of paint on them. I wire brushed and painted mine matte black, just because I have looking at the rust when I'm under the truck working on it, but it sure won't hurt anything.
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Mine had 99 miles on it when I took delivery of it today....build date 11/07.
I assume that's why so many trucks have been delayed for so long. Logistically how do they put so many miles on these trucks? There were apparently thousands of built trucks waiting for shipment, and almost all of them seem to have 50-100 miles. So a tech has to go out, find the truck, recalibrate the trans, drive it for 2 hours or so and clear it to be shipped? WOW! That's gotta take 3-4 hours per truck and if there were 5000 trucks that's 20,000 labor hours.....at least. Crazy