Joined: Jan 03, 2008 Posts: 4 Location: Palmer, AK
Posted: Fri Jan 11, 2008 7:56 pm Post subject: How do I know what to pay for a M38
I have found an M38 but it is a few hours away from where I live. Can some one give me some guide lines on how much I should pay? I tell you what I know and will ask any questions that you provide me or get the answers from the guy selling it.
What I know about it. He thinks it's a 1952. It has an Artic Top on it. It has had an overhead valve engine installed and the hood has been modified for it to fit. The engine that is in it has a bad crank, the PO to the guy who has it now rebiult the engine himself and tput the wrong crank bearings in it. He said the seats are still in it.
Hello Lenard,
Try to post some pics of the back and the other side and the engine compartment and the interior. From what I see a wild guess is $800 and up. I'll email you a questionaire to send the sender.
The simple answer here is for you to first tell us what you want to do with the jeep? Get it running and use it for a daily driver or hunting camp jeep? Restore it as a daily driver? Completely restore it original?
Then survey the jeep for condition and completeness. Then add up the cost of the things you will have to buy and the services you will have to buy or provide and then subtract that from what you believe the value of your completed jeep should be. Don't pat any more than this difference for the jeep.
Here's a little sheet I put together not long ago:
Quote:
M38 Appraisal Guide
Some ball park figures:
1-Rusty, 75 % there, engine froze up project. $500 to $800
2-Rusty, all there, runs project. $800 to $1500
3-Light rust, all there, runs, drives, & STOPS $1500 to $2500
4-No rust, all there, runs, drives & stops. $2000 to $3000
5-Older resto or original as released , all there, runs, drives & stops $3000 to $5000
6-More recent resto, all there & highway ready $4000 to $7000
7-More recent resto same as #6 with recent documented engine overhaul. $4500 to $7500.
8-Fresh resto with servicable components highway ready. $6000 to $8000.
9-The proverbial #10. Fresh resto, truly a complete restoration mechanically as well as aesthetically, fresh eng, tranny, transfer, clutch, brakes, diffs etc. No non working items motor pool class. $7000 to $9000.
10-THE # 10 as #9 above factory resto 100% correct. $8000 to $14000.
You can do the arithmatic your self with several good catalogs like Supply Line (which has most vendors partial price lists in it), Beechwood Canvas for the highend costs and 4WD Hardware for average costs. Just add the costs for the needed parts and estimated labor to the low end figure in the class you found the jeep in and estimate where you end up in the more improved classes after spending all that money.
Hey Lenard. From the looks of what you would have to do to get it back to stock military configuration, I wouln't pay any more than $300 for it. It doesn't even have the stock Willys L-134 flathead engine it. Look how the hood has been butchered up! The bumper has been altered. It looks like turn signals or something was added to the top of the front flat fenders. You could spend $2000 or more and find something you wouldn't have to do so much to. If it was me I'd offer $300 and that's it. Just my opinion, Kevin '55 CJ-3B/M-606 Body
Joined: Jan 03, 2008 Posts: 4 Location: Palmer, AK
Posted: Tue Jan 15, 2008 1:14 pm Post subject:
Kevin,
I'm in Alaska so the availablity is a bit limited. I have been looking for 6 months and only two M38s and one M38A1 have came up for sale. Finding the engine is the biggest reason I haven't went and looked at it closer. Just isn't that many Willys 4 cylinder flatheads around. I'm still looking.
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