Vehicle Ad-Hoc Networks (VANETs) face critical challenges in trust management, privacy preservation, and scalability, particularly with the integration of 5G networks in Intelligent Transportation Systems (ITS). Traditional centralized trust models present single points of failure and privacy concerns that compromise network security and user anonymity. This paper presents a novel decentralized trust model leveraging blockchain technology, Interplanetary File System (IPFS) integration, and post-quantum cryptographic algorithms to address these limitations. Our proposed TrustChain-VANETs framework implements advanced privacy-preserving encryption techniques including threshold and homomorphic encryption, geographical sharding for scalability, and edge-assisted consensus mechanisms. Performance evaluation demonstrates significant improvements: 40% reduction in authentication latency (90-120ms vs 150-300ms), 90% malicious node detection rate (+15% improvement), 300% increase in transaction throughput (2000-2150 TPS), and 100% scalability enhancement supporting up to 5000 nodes. The system integrates seamlessly with 5G network slicing (URLLC, eMBB, mMTC) while maintaining quantum resistance through CRYSTALS-Dilithium, KYBER, and FALCON algorithms. Real-world deployment considerations including OBU computational constraints, standardization gaps, and energy efficiency are comprehensively analyzed. Results indicate that the proposed decentralized approach provides robust security, enhanced privacy, and improved scalability for next-generation vehicular networks, making it suitable for large-scale ITS deployment.