This calls for Preparation H!
OH MY GOODNESS, You got yer can ripped out by an unscrupulous seller. I'm sorry to hear that. I am a welder and I wouldn't attempt to fix that mess.
Three weeks ago I bought a car just like yours for $450 with no rust - It had hit a deer. I have been driving it every day that I can until today. I tore it apart, straightened all the sheetmetal out, primed and painted it. Weird, the metal is so thin you can pull it out by hand! I replaced the headlights, hood, bumper & support. I have less than $700 TOTAL invested incl. tax & reg. It gets 38mpg which is nearly double that of my 2006 FORD Ranger.
About your rust problem: Time to unmask - clean off the undercoating with a spray on paint stripper and check out their work. Pay somebody at a body shop that $25 - $50 if need be to look carefully at it. If it won't hold up, then undercoat it and sell it. Be honest to buyers as Hell is only half full.
About the O2 sensors: Most national autoparts stores will read your codes for free. If the O2 wires are to be found, then buy the sensors and splice the wires. Be prepared, they are NOT CHEAP. If the Check Engine light is NOT on and codes are stored, then look to see if the seller removed the bulb from the instrument cluster. A cheap trick indeed.
I have the GM three manual set for this car and worked in an auto electric shop in my younger days. If this car is a keeper, then buy these manuals and invest in a multimeter.
Keep me abreast of your progress and findings.
Good Luck,
Cowspots
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