Buying a coworker truck, should I do it?

I'm in a situation where a coworker can tell me a truck a Ford F150 super crew for 6500. He Told me to give him either 500 or 1000 for a down. And is willing to work with me on the payments from 300 to 500 a month. Now my question is is it worth it? The truck is a 2004 as 110000 miles no check light engine. The truck runs good. Is it worth it? For not going to a dealership in having a coworker sell it to me? Also not dealing with paperwork at a dealership and financing.

He should buy his own truck.

It is a private sale.
It is an AS IS sale, so you should have a mechanic check it out before buying.
Also, the financing is a bad idea between private individuals. You don't mention the total purchase price, but the two of you will be happier if you save up the money for the total payment and buy it all at once.

Why don't you check Kelly blue book to see how much it's actually worth. You might want to bring it to a mechanic to get everything checked out. Just because the engine light isn't on doesn't mean there's no problems. My car had the engine light on but when I took it to the dealership for a trade-in the engine light went off. If you don't take it to a mechanic, you wouldn't know that there was a problem.

It's 15 years old subject to major failures and high cost repairs. No way to know its actual street value without detail of model and all options and condition of wear. Buying from a friend or coworker is usually a bad idea. At 15mpg for gasoline, it's not cheap to run it. Definitely should have a good mechanic check all parts, and I hope you know how to repair and maintain an old pickup.

Never buy from friends, co-workers or relatives

Entering into a financing arrangement with other than a licensed lending institution is very risky. There are too many contingencies that an average person isn't going to consider. These arrangements don't usually end well. Save your money and buy the truck outright. Or get a loan from a real bank.

This is a bad idea because private parties are not good at financing and things can go wrong. If you can't get your own financing you should not buy.

No.

Doing business with friends, family, and coworkers is asking for trouble. In your situation, your coworker can refuse to sign the title over to you and deny you ever made any payments. You can't do anything about it because he owns the vehicle.

If you don't have $6,500 to spend, then you should not buy this truck.

That's very low mileage for a 2004! Make sure he transfers the title now and adds himself as a lien holder. If he won't don't buy it!

Never, ever, do business with family or friends. This includes co-workers. Bad idea any way you look at it.