Checked out truck, help figuring out sound? cash advice?

[Peregrine]

I went and looked at that 72 today. It's a solid truck, great body and frame. Only probelm is when you make a harsh turn you hear and feel a pop from the right front. My dad guesses a balljoint. Is it worth it to pay 6 grand for a nice hot rod truck that is gonna need a new exhaust and has some sotra definant problem in the front end? I was thinking about offering 5 grand, which is about 300 more than is to my name. Should I pay that much for a truck now and not have payments on a car or have payments on a car but have cash in my pocket? I have a decent job and had it for 2 years, making about 350-450 a month minumum. College is coming up and I plan to live at home. It'd take me untill senior year to get a 14 grand Mazda B3000 paid off. And I couldn't work on it.