My undercarriage has similar rust starting to form. It's amazing what an undercoating treatment can do to help slow it all down and make it look better too. Just a mess to work on anything once this is done lol
Look at the hardware on the muffler pic you shared too, they look good. Its not to out of the ordinary to see an exhaust much rustier and the bolts all rotted out. Fuel tank skid plate is another common rotted out area. Your doesn't look too bad.....You may have found a good specimen
Price is a big factor - How much?
Where is this vehicle located ?
Put the VIN into Toyota Owners website for possible service records
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