If you want to get radical in drop and don't use a rear bumper you can cut off the frame in front of the rear axle, use a ladder bar to locate the housing, mount coilovers on the front of the housing to the bobbed off frame, and use a pannard bar from a bracket that mounts to the 9" pinion bearing housing over to the frame. With pennies being tight you could fab your ladder bars and use some coil springs with seperate shock mounts. You could maybe even mount coils from the frame to the ladder bars kind of like the 67-72 chev pickups did to the torque arms. Mind you, your bed will only be for looks because it will have no support at the back but on a chopped dropped ride that's not a concern. Either way you could then lower it till you hit the underside of the bed. Good luck


Evan