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Should I Be Concerned?

Payed really around $270 for the bass to be shipped to my house
thing i like is the $100 audere preamp I got with the bass , otherwise I would’ve have to pay extra for that , it also reminds me of a bass I sold … Im hoping this one works out
That same bass can be had new from Sweetwater for $299 (?). Looks like you're already there price-wise for a bass with a future truss rod fail.
 
The first thing that always comes to mind for me when I see a truss rod not like that, is why? Why did it get beat up in the first place? Usually that means that it's a neck that requires frequent adjustments in order to keep the relief set properly. Also, I personally have owned quite a few Squier basses as well as having lots of them come across my bench. I've yet to ever see one that uses a dual action rod. Fender US MIM MIJ CIJ don't seem to like those. Although they did use a bi-flex rod for awhile which is similar. Also, every import Squier I've worked on had had either a 4mm (newer builds) or a 5 mm (early builds). There are manufactured in Indonesia and China so metric hex sockets. You say that the rod turns both directions. How easily does it turn? Can you do a 3/4 or a bit more both ways? Also, if it's very stiff that could indicate an issue.

Anytime I buy used I take a truss rod wrench with me and check to make sure that the rod nut would move in both directions. Sometimes later on after getting the instrument home and doing a setup I would find that yeah, the rod did turn but it was almost right at the end of the threads. Therefore bottoming out before I could get the neck set in proper relief. BTW the basses I encountered that had that issue also had rod nuts that were worn looking like the one you pictured. My guess is it's more likely that somebody was doing the adjustment work without loosening the strings a bit and moving them out of the way to get better access to the nut, so it got chewed up a bit. We're using a hex key that wasn't long enough to begin with and didn't fully reach in there. As long as it plays out well and you can move the rod easily and it does actually move the neck I think you're probably ok. And if not you have 45 days to return it.
 
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I have a MIM Fender p bass neck that had a similar damage on the truss rod nut. The neck was not installed on a bass and the access was at the headstock.
I have been able to remove it from the neck with a very high quality Allan wrench (black steel, made in USA) making sure I was pushing the Allan key while turning the nut counterclockwise to make sure it remains fully engaged.
I then discovered the nut was kind of stuck in varnish !
Anyhow, I wanted to make sure I wouldn’t have any problems in the future so I bought a new nut and installed it taking care to put a bit of Teflon grease on the threads and it now turns easily.
 
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View attachment 5369841 View attachment 5369839
Just got this Squier Affinity Jazz Bass V on GC online (musiciansfried)
everything pass the test , great action , good strings , came with an audere preamp looks and sounds good , the truss rod nut looks a bit beat up but if a put a 4mm key turns either way with no issues i think

Should i be concerned ?
i got 45 days to return it

They probably have a boatload of these for sale at GC, why take the risk? My advice is to send it back.
 
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I then discovered the nut was kind of stuck in varnish !
Anyhow, I wanted to make sure I wouldn’t have any problems in the future so I bought a new nut and installed it taking care to put a bit of Teflon grease on the threads and it now turns easily.
Your MIM was old enough to have a single action TR. The nut just screws on. This is a double action TR and the nut can't be removed without destroying the rod.
 
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