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I recently purchased a 1987 F-150 XLT Lariat auto 4x4 that has a badly overheated engine and a bad flex plate.
All the power options work as well as the A/C. The paint is pretty much faded and peeling and it has surface rust but nothing that seems to be structural or rot. The interior is worn as would be expected of a work truck but only has one small tear on the drivers side seat. The body is solid and has no significant dent.
I am wondering whether it makes economic sense to to replace the motor, redo the seats and give it an inexpensive fresh coat of paint. I do not know what the reasonable market value would be of the truck or its desirability if I spent the money doing those things, but am wondering if I would I be able to get my money back?
All thoughts and comments would be greatly appreciated, thanks.
If you're handy and can do all the work yourself it would make a nice truck. It doesn't look very rusty from the pictures except for the drivers door. You won't make your money back though.
If you aren't handy I would advise against hiring a mechanic to replace the engine. Even with a new engine it's still an old truck and it will nickel and dime you.
Thanks for the reply Muhford. I'm pretty handy with tools and have R&R engines before. The driver's door is really only surface rust. I'm just wondering what the market value would be.
Depending on where you are located and the miles on the truck that would be $1500 to $3500 with a used engine and the interior/exterior cleaned up/painted here in the Midwest rust belt. You will not make much if any money in the deal IMHO.
Are you looking to flip it when done? Probably not a big profit margin. Are you looking to drive it yourself when done, probably a pretty big satisfaction margin.
Thanks for all your comments, they all make a lot of sense. I'm looking to make it a reliable little truck to use for doing projects around the house and having something to load things in rather than in my car or the wifey's SUV. I had my 7.3 F-250 stolen and I recentlysold my F-650. I am lost without a truck, lol. Probably will get another F-250 when this COVID thing settles down. But got a little inexpensive truck to bridge the gap. Just wondering how much I should do to it.
