Another 'What's it worth' - Help me Decide

[S4Cruiser]

I know everyone love these threads but I could use some thoughts/opinions...and I've got pics .

There is a '74 40 (12/73 build) local to me that I've got the chance to purchase. The truck is not openly for sale but the owner is moving and doesn't have a place to store it so I've got the chance buy it if I like.

I already have a truck for wheeling (my 80) so this truck would be to drive around town, take to the beach for the summer and some light wheeling on a limited basis. My plan would be to drive it as is for the coming year, get a small lift (2.5) run 33x10.50 tires now and fix the oil leaks now...and next winter do a frame off refresh.

The good:
- all original/stock
- runs great
- hard top/doors, soft top (best top), soft full doors, bikini top and custom cover included
- records dating back to '94ish
- 72k original miles
- floors are fairly solid with minor surface rusting
- everything works (switches, electronics, etc)
- original 3 speed replaced with later 4 speed tranny

The bad:
- has been repainted original color and minor rust removal performed at that time (not a perfect paint job either)
- rear reflectors look like they are placed at a funky spot
- showing rust bubbles on the front fenders
- small rust through hole behind the passenger seat
- rear sill has been replaced but the job wasn't the best
- portions of the frame and undercarraige have been painted but areas that haven't are showing some scaling (otherwise solid)
- rear main and valve cover are leaking and need attention
- head liner torn (but comes with a new uninstalled liner from ccot)

I could pick the truck up today for 7k and the owner is firm on this price (already been through the back and forth offer process). The main thing that concerns me is that the latest body work wasn't done up to par and would need to be addressed eventually to be fixed the right way. Could be hiding surprises as well.

WWYD?

Pics -

 

[1911]

From the photos and your description, I'd pay $7K for it. I've seen franken-rigs that guys wanted more than that for.

 

[DanS HJ-45]

There is nothing sweeter than a pretty stock 40 for cruising around in. Nothing.

I'd say buy it, that seems like a good price to me for that.

Dan

 

[71 redwood]

Id buy that also,,7k is a good deal

 

[alkarich]

True the reflectors in back seem too high. Perhaps more work has been done?

 

[vtcruiser60]

I am much cheaper than most....but I don't see 7 k there. There are two rigs locally as nice priced 5500 to 6500.

Nice paint can hide a lot of bad body work. Since you suspect this already and are seeing some bubble through now.....just imagine it in two years and that truck will be worth 3-4 k, maybe.

I would hold out for a better deal if it were me.

 

[S4Cruiser]

I am much cheaper than most....but I don't see 7 k there. There are two rigs locally as nice priced 5500 to 6500.

Nice paint can hide a lot of bad body work. Since you suspect this already and are seeing some bubble through now.....just imagine it in two years and that truck will be worth 3-4 k, maybe.

I would hold out for a better deal if it were me.

This is exactly where I'm at...concerned that their might be hidden gremlins under the paint. The current owner has been very honest and upfront about the body work. He had previously lived in Baltimore for a few years and when he moved south he had a local body shop do the repairs and new metal was welded in where needed...but you never know.

But it is local and just waiting for me to bring it home...ummm, decisions .

Thanks for the thoughts so far - keep em coming!

 

[ocdbeetle]

A magnet will help where you can't see under the paint....You should be able to see a great deal if you get up under it crawl around/up/down/on top of/whatever... Are you going to keep it a while? I don't think the prices on these (or the parts to fix them) are going down any time soon.... I'd probably buy it....
I might make a list of things that need attention, put a reasonable fix price beside them and see if you can get the owner to concede a few dollars based on the "must fix" list...

 

[S4Cruiser]

I did the magnet test as best I could. The rear qtrs and rocker panels seemed like mostly metal. The only spot with a faint pull was on the outer/middle area of the front fenders. The magnet I used was small but pretty powerful so I imagine it could find metal behind bondo/glass.

I got all up under the car and found a few small rust areas in the rear sill behind the qtr panels and the inside of the frame that wasn't painted. The frustrating thing was that almost the entire underside of the truck has been painted which makes it tough to see rust. The bottom of the panels and supports seem solid to maybe surface rust behind the underbody paint is the worst that is there .

I'll probably try to take a look at it again this week instead of reviewing pics. Pics always make a truck look better.

 

[D'Animal]

I think you are suppose to use a kinda weak magnet.

I agree with VTCruiser60. I don't see $7k there.

 

[jfz80]

I went to look at this one w/ S4 and it definately looks GREAT at first glance.

I felt the best points for this one were that it was mostly all there (no tool bag) and ran right away and looked good doing it.

It is not one for just some light touch ups here and there for a super clean rig. It would, in time, need to be torn down to do it right. Like mentioned the underbody had been covered up, but just for outside aesthetics. The inside of frame rails werent painted and there was rust that would flake off w/ a fingernail, so you have to imagine thats whats underneath. They were still solid but beyond pitting to a decent amount of scale. There was some less than ideal fender support patches to attend to, one 2-3'' bubble in rear corner under the paint, the rear seal totally rusted out and glassed over, and two very small holes in an otherwise sturdy floorboard.

I was thinking 5K ish. It looks great, but as others have mentioned you know you will be redoing other peoples work that didnt stand up to your standards. good luck w/ the hunting !!

 

[DallasFJ40]

The pictures do make it look nice, but your description scares me. If you are being critical in your remarks, it may be worth it. Otherwise, it may be smart to keep your money.

Oh, that looks like a big tear in the headliner!

 

[SouthBostonFJ40]

The next best thing (besides the magnet test) is to run your finger along the entire inside lip of the body. See if the inside support pieces are there and rust free. You should be able to feel them at the rear sill and inside the the rear quarters.

 

[mcwinery]

I really like the sunroof. Is there a way of closing it? It seems to me everyone is concerned with what it is worth in a year or two. My thougt is what is it worth to be able to drive it around for a couple of years. Since my first car, I always said that this is the worse investment I could ever make. I cant think of a single car I sold for more than what I paid for it. My first truck was a 1969 nissan truck. I paid $1,000 for it and sold it 3 years later for $500. From there it just got more expensive with each car I bought.

If you can enjoy a ride for a couple of grand a year, thats not so bad. Maybe it is a great deal at $5,500 but is it a bad deal at $7,000. You decide.

 

[allan man]

If you think about in the morning buy it
If you think about at lunch buy it
If you think about at the dinner table buy it
If you think about it before you go to bed buy it

The owner left it there ....so you can stare and lose your mind over that 40....Good luck!

And if you do buy it first mod would be the BEZEL....

 

[spdwaver]

I really like the sunroof. Is there a way of closing it?

If you are referring to the lack of fiberglass on top, then yes, there is a way of closing it.