Absolutely no telling what is under the crappy paint job. Perhaps rust which would go with the bubbles. It is just an old car until you get it to where it needs nothing. Besides, there is much that you didn't see in your first look.

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85SD 240K & stopped counting painted, putting bac together. 84SD 180,000. sold to a neighbor and member here but I forget his handle. The 84 is much improved from when I had it. 85TD beginning to repair to DD status. Lots of stuff to do.