So a couple of months ago I purchased a 68 F250 Camper Special. When I purchased the truck everything ran fine and was working as expected. Well, to make a long story short, the engine is now shot and needs to be replaced. So I have to decide whether or not to fork out the cost of replacing the engine or to just cut my losses and start over. I've included some pics of my truck for reference. I know that there are probably a million variables to consider but would just like to hear some opinions.

A couple of questions that I have:
1 - How much is it worth in its current condition?
2 - How much is it worth with a new engine?

Here is how I'm thinking about this:

The cost of replacing the engine will probably be in the $2500 to $3000 range. I can do some repairs myself but replacing an engine is way above my skill level, not to mention I don't have all of the required tools.

So if I cut my losses and spend $2500 to $3000 on a different truck, I could probably get something decent but could still be trading one set of problems for another. If this truck is still worth something, then I could add that amount to my budget.

If I replace the engine, I'll be sinking a whole bunch of money into this truck but I know that it has a newly rebuilt engine and the engine is no longer an unknown.

I feel like I just got screwed up the butt by a 360 FE.

1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr
1968 Ford F250 Ranger Camper Special by FatSwede, on Flickr

 

What is wrong with the engine?
Looks like a pretty decent truck but the value will be marginal in a non running condition. Your location also determines value.

 

"...replacing an engine is way above my skill level, not to mention I don't have all of the required tools."

This seems to me to be your real problem. I don't mean to be harsh, please understand, but these old trucks need money or love and usually both. In other words, you need to resign yourself to either spending more money, acquiring the skills and tools or selling the truck and sticking with something new.

 

I guess that I can't disagree with this so my question becomes a matter of how should I spend my money. I was just hoping to solicit a few opinions on the matter and listen to some other points of view.

 

looks like a good old truck , i'd put a motor in and get another 40 years /100k+ out of the old girl .
But whats wrong with engine ? maybe it only needs repair not replace?

 

The question is do you want to spend the money on a new engine and know it will be good. But who knows how long until the next thing breaks. These trucks are 40 plus years old. And unless you get one that's already restored your going to be putting money into it the more you drive it. And a lot more money if you can't do the repairs yourself. You need to either learn to fix these old fords, pay lots to a mechanic every time some thing breaks, buy a already restored truck, sell this and stick with new stuff, keep it and learn over time doing things on it. We can help you do almost anything to do with the truck except for the labor part. Looks to be a good truck I like it. where you from?

 

I agree that I need to learn how to do some of this stuff myself or things will start to cost me some big $$$. I certainly get that. But still, overhauling and/or replacing an engine is about the most complicated repair there is.

I live in eastern WA state.

 

Pickup appears to be in decent shape... how many miles did you drive it? Did you enjoy driving it? Will it provide the transportation you need? Is it your primary or only vehicle? Tough to have major rebuild projects that take it off the road if it's all you've got... as for lacking the abilities, knowledge, tools, etc... we were all there at some point! I am still fixing new problems I've never had before and learning. I am also expanding my collection of tools as well.

I love my 74 F100, but I can't afford to drive it all the time at 12 mpg, and it's headlights are quite poor for night driving... but it's my second vehicle that I don't need all the time and I am aware of its limitations. I enjoy it for what it is: a usable old pickup for a fraction of the cost of a newer one.

Please, more details on how the engine is shot! Might be fixable...

 

I feel your pain. I had something like that happen to me.
I bought a partially restored 71 f250 last March and it ran great for 6 months and then the motor needed to be rebuilt. So, like you I had to decide what to do. Well, I shelled out the $ for a complete rebuild and now I have very cool looking 44 year old truck with only 600 miles on the motor, but like others have said, old stuff wears out and needs to be replaced. The next thing on my list is new king pins. For 2 - 3 thousand you could probably find a mid 90's f250 and BTW if you do decide to sell the truck I would be interested in that shell, (if its a long bed) in fact, if you have the time & inclination, you could probably make your money back by parting the truck out on this forum, just saying. I am in NorCal. Best of luck to you.

 

This is just a suggestion. Is there a trade school in your area ? If so check and see if the students in the Auto Shop would be interested in replacing the engine.
If they are interested, purchase a rebuilt long block kit from one of the major re builders like Jasper or Fred Jones or look for a reputable shop to rebuild your engine. Maybe the trade school would want to do it. Good Luck

 

If you enjoy driving it and you can afford it, spend the money on a rebuild.

Or you could garage it until you feel ready to tackle replacing the engine.

Or you could buy a long block and save yourself most of the seriously technical aspects of a rebuild.

These trucks aren't terribly sophisticated, so you can go pretty far with manuals, a reasonably limited garage and the help of folks like these guys. Heck, I rebuilt a 360 ten years ago with nothing but determination, a Chiltons book, basic tools plus a few specialty tools. You would be surprised how much you can do, I'll wager.

My advise? That seems like too nice a truck to give up on. Spend some time familiarizing yourself with FE engines, get some tools, set aside some time and jump in. The worst thing that can happen is you have to swallow your pride and hire a shop to finish the job.

 

I need to talk to the repair shop a little more to assess all of the details. They are going to call me back tomorrow. Anyway, there is no oil pressure and the engine is making a lot of noise. The mechanic basically seemed to think that it was basically just worn out and time for a rebuild but I will know more tomorrow and post the details.

 

I'm leaning toward forking out the money for a rebuild purely because I like this truck. Not sure why I like this truck so much but when I was shopping around for trucks, this is the one that called to me. Other than the engine, it seems pretty solid. There are a couple of minor blemishes but overall it seems solid.

 

That is a great lookin truck! I would definitely keep it.

If you have a book, a ratchet set, an engine hoist and stand, you can rebuild the engine. ( everything else you need can be rented from your parts store, and the machine shop does the rest)

Or, you can buy a crate engine,

OR, what I would try, is to find a good running engine on Craigslist. I have bought several engines in running condition for under $500. And a "built to the hilt/ ready to be in a stock car" engine for 2K.

Pulling/installing the engine consists of 8-12 bolts, and the little things. Very simple really. I had one out and mine back in, in about 2 hours.


If you can read and know which way to turn the wrench, you can fix these things.

 

Probably sheared off the oil pump drive shaft. That's definitely a full rebuild with machine work. As far as specialized tools for that, you will need a torque wrench, ring pliers, and a ring compression kit. Get a quality torque wrench. ~$80. The other two you can get from Harbor Freight for cheap. Plenty of books out there about rebuilding your FE. I like the ones by Tom Monroe. No bs. Straight forward. I will say read the whole thing first before turning the first nut and put some notes in the margins. Have a reputable machine shop bore the block, turn the crank, size the rods and rebuild the heads. they will help you get the other pieces as well. Most times the shop is attached to a parts store. Rockauto is also a good source. Check your local chapter for some buddies to help out. Every time I mention I have to do something under the hood people as me when they need to be there. You can realistically get this done in the 1K range as long as you stick to stock-ish parts.
No need to pay shop hourly rate for assembly. The Factory Shop Manual and some feeler gauges are all you need for that. Clean the heck out of everything you get back from the shop. Even if it looks clean.
Got a garage to work in? Pick up a stout engine stand from craigslist.