Welcome, I'm Chris (aka Moose). All experts are independent contractors here at Just Answer none are employees, we do not get a paycheck or benefits from JA. We work for the customers. I strive to provide EXCELLENT 5 STAR service, let me know what's needed from me so your pleased.
You can go to kbb.com to see what the value of the truck should be then subtract the cost to fix the brakes. When you get to the condition of the vehicle it should be rated good or fair not excellent. On the brakes, if it has rear drums, then you need to make sure they are adjusted correct, that can be to blame for a pedal going to far down. If they are adjusted correct or it has rear rotors and pads, then your correct the ABS would be the next logical part to blame. About 2.0 hours in labor to replace then bleed the brakes again. To test this you would need a brake system pressure kit to find out where pressure is getting to and where it is being lost or bleeding off.
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