FJ40 advice needed (1 Viewer)

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I just inherited a 1970 Land Cruiser. I need to decide what to do with it. I do not work on cars for fun, only as needed to avoid paying mechanics.

Please do not take the following as whining or being ungrateful, I am trying to deal with the hand I was dealt.

Condition is poor. It was parked in the weather for two years. IT runs and drives. The engine is a Chevy straight 6. The transmission is 3 on the floor. The body was recently painted but the top was not. It looks good until you look close. The electrical system is shot. Many original parts were discarded, heater core, rear area heater, all the rubber etc. Many necessary items like the windshield wipers do not work. Basically it was a ranch truck for 40 years and got a new paint job recently.

A full restoration seems to cost about $50K. I have an FJ80 that is in good condition to do the same job. I am already out 15K on the 1970. I think it is worth about 7K. I do not ever see driving it regularly. I am inclined to sell it ASAP and cut my losses. Are my valuations in the ballpark? Am I missing something obvious?
 

Dynosoar

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A full restoration seems to cost about $50K. I have an FJ80 that is in good condition to do the same job. I am already out 15K on the 1970. I think it is worth about 7K. I do not ever see driving it regularly. I am inclined to sell it ASAP and cut my losses. Are my valuations in the ballpark? Am I missing something obvious?

If you inherited it, how are you out 15k already? If indeed, you have invested 15k in it, it should be in decent shape.

A running "poor condition" 1970 may be worth 4-7k depending on rust.

No real valuation is possible without close inspection. Pics would be a bare minimum.

Dyno
 
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If you inherited it, how are you out 15k already?

The assessed value for estate purposes was 15K. I got the car instead of the cash.

I was offered 7K by a classic car specialist with a good reputation .

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I do not recall complaining. I'm into a vehicle I can't drive, or have use for, for 15 grand. My question is, "do I have reasonable expectation to get my money back if I decide to sell it". You guys are into these vehicles, so I ask here.

The prices on these vehicles are all over the board. A super clean as original might run 60K. A beater, 5K. A highly modified version is all over the board. This one is a highly modified beater missing lots of important parts. I don't know how to value that.
 

Jdc1

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I do not recall complaining. I'm into a vehicle I can't drive, or have use for, for 15 grand. My question is, "do I have reasonable expectation to get my money back if I decide to sell it". You guys are into these vehicles, so I ask here.

The prices on these vehicles are all over the board. A super clean as original might run 60K. A beater, 5K. A highly modified version is all over the board. This one is a highly modified beater missing lots of important parts. I don't know how to value that.

If you don’t need the cash now, get it running driving and stopping and pick away at the rest of the missing parts. I’m seeing a 1971 model from here. There’s a lot of aftermarket options such as heaters that if done properly will help add value.
 
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The back has one flaw, a wrinkle in the top on the driver's side. It would be part of the respray of the top. The frame is straight and unmodified. The frame had surface rust that was covered by undercoating. There is no significan body rust.

The classic used car lot owner told me the would give me 7 and sell it for 10, so you're spot on.

My dilemma is that I will be moving 1000 miles soon. I have to pay about 1500 to have it hauled. Then I put a tarp on it until i decide to mess with it. I am pushing 60 and time is short to be stockpiling projects.

I have not found good resources for make do parts to make it fully functional. OEM parts are unobtanium or way to expensive. Can anyone give me a resource to find work arounds for impossible parts like rubber, heater boxes and windshield wiper assemblies?
 

flee

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I do not recall complaining. I'm into a vehicle I can't drive, or have use for, for 15 grand. My question is, "do I have reasonable expectation to get my money back if I decide to sell it". You guys are into these vehicles, so I ask here.

The prices on these vehicles are all over the board. A super clean as original might run 60K. A beater, 5K. A highly modified version is all over the board. This one is a highly modified beater missing lots of important parts. I don't know how to value that.
Greetings and welcome.
I once had a '70 FJ40 that by 1980 already was rusting badly. Yours may not be as bad as you think.
The front heater is there; mine never had a rear heater. The electrical systems on these are simple and access to it is better than many cars.
Even having a Chevy 6 isn't as bad (to me) as a V-8 would be. I may be in the minority on that one.

The real issue is if you are not going to be the one working on bringing this one back from the condition it is in.
It will take time to make it worth $15k which will add to your dilemma.
If you are in the Los Angeles area I'd be happy to meet and look it over and tell you what I think.
 

Dizzy

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I say if the PTO winch works, then try selling it at 15. That is high for New Mexico, but just what California ordered. Just get a real fan shroud, and remove the blue painters tape and Jerry can holder in the front. You possibly could be one of the few on Mud who doesn't take a significant loss on the coin tossed at a 40.
 
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I had to make a similar decision about a year ago but had owned the 40 for 30 years. Didn't want to just sell it as a non runner for 7K or go through the effort to get it to run and try and get 10K. I chose the hard expensive route and am about half way into it.........

I think you should sell for 7K or a little more if you can get it.

The amount of time, research, money and energy it will take to fix and save or sell this truck won't be worth it for you unless you can enjoy the process. I chose to greatly reduced the amount of time I had to enjoy my other hobbies (like fishing and RC gliders) because I could enjoy working on the vehicle as an expensive hobbie until it is done but you circumstances differ so I recommend getting out of it.

Good luck either way!
 
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cbmontgo

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I say if the PTO winch works, then try selling it at 15. That is high for New Mexico, but just what California ordered. Just get a real fan shroud, and remove the blue painters tape and Jerry can holder in the front. You possibly could be one of the few on Mud who doesn't take a significant loss on the coin tossed at a 40.
I agree with this. Clean it up, get it driveable, and sell it. It’s a seller’s market and you aren’t a 40 guy. Move on with life.
 
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The assessed value for estate purposes was 15K. I got the car instead of the cash.

I was offered 7K by a classic car specialist with a good reputation .


Did you ask for the 40 or how was it decided the value and why do you have it?

Someone who deals in classics vehicles offering you $7 doesn't set the value it's worth to someone wanting a FJ40 for themselves not somebody looking to flip it and make a profit.
 

middlecalf

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Estate tax exemption is over $10M, so your good to go on that. Of course, if you wait too long things in that area might change.

Is that basket in the front attached to the rig?
 

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