George hit the point right on target. The purchase price is just the beginning.
The real question shouldn't be "do I want to spend $2000 on this truck", it should be "is THIS the truck I want to spend $10000 on eventually?" Or more . . . . Or would I rather do something else?

I thought long and hard before buying my truck, including (really) listing all the vehicles I would like to have (in the same price range, of course), then ranking them in order of preference. Do that and you'll probably have an answer to your question right there.

A neighbor of mine used to buy and sell vintage cars as a hobby and as a way to make money. He told me the only way to make money on old cars is to buy them when they're 95% to 98% finished and just work on the minor blemishes. Think he was pretty right about that.

And i agree with other comments - I paid $2001 for my truck and drove it for almost a year, only having to change the water pump, thermostat and oil change. Unless this is the truck of your dreams, probably a better deal out there somewhere. A lot more fun to get a little enjoyment out of it first before it becomes boxes of parts in the garage.

 

Thank you to everybody for all of the replies. I respect all of your opinions and the work you have done on your vehicles. What better place to get advice than from the folks that have traveled this road before me?

I probably should have given a litttle more background on my intentions in my initial post. First thing I should make clear - I have no illusions about making money on this. I gave a half hearted effort at trying to justify this, but in the end it comes down to "I just want to restore one" and I guess I like the thrill of finding that elusive part in some unexpected place. It will be my first frame off though I have tinkered with vehicles since I was a teenager (now 40+ which is probably what's really making me want to do this - that mid-life thing).

I've settled on a 48-50 F1, F2, or F3. I figure a truck is probably easier than a car (probably wrong but...). I have looked at a fewe already but have passed for a number of different reasons. Most common hasa been lack of clear title on the $1,500 - $2,000 ones like this.

I do not want to go concourse quality on this since I would like to be able to drive it without wigging out about an approaching rain storm or a mud puddle when I am driving it. For me the ultimate enjoyment will come from driving it.

The numbers you guys have suggested that I should expect to spend are about where I figured it would be if not a little conservative. I have a great garage and I am reasonably well set-up for doing the work with tools and $$$$$. I also have unlimited and permanent access to a satellite garage a 1/2 mile away where I can store the vehicle as a whole or in parts in case I need my garage back for a while. I will also be able to store the parts there while doing the frame and drive train work. Also, and most important, Mrs. Texan2004 is onboard (I know, they all say they are at first, but then ....).

I appreciate the suggestions for places to look. I do scan the FTE classifieds frequently and I keep an eye on e-bay, old car trader, etc. I actually found this one driving through an "interesting" neighborhood (ya know, the kind where people tend to hang on to old cars long after they quit running). Turns out it belonged to the property's landlord who bought it as a well intended project a couple of years ago but never got time to do it.

Went to look at it tonight with the owner. There is an awful lot of rust on the cab at the roof seam (pretty much all the way around and it's holed through in a number of places). Believe it or not the floor boards are in excellent condition. If they were ever replaced, it was A-1 pro job. I could find no indication of any seams where someone had patched in a panel. Too bad the rst of the cab is shot.

Transmission is 3-speed on the column. Engine turned out to be a Mecury flathead V-8 or at least the heads are Mercury's. Engine has never been fired up after it was redone for whatever reason. Current owner could not get it to light off and who knows why with the owner when it ws rebuild. I suspect something wan't put back together correctly. Fenders are holed through where they meet the running boards. Running boards were in the bed with the rear fenders. I did not get a real good look at them but I suspect they are corroded as wel. Rear fenders looked pretty good. Bed looks pretty good. Spare hood looks good. Grill has bee bondoes and painted. Bonod is chipping off. The small panels in the froi tof the truck between the fenders and grill are bondoed up and chipping. Rust on those pieces as well as the front of the fenders wher they meet those small pieces. Radio is gone as is the speaker. Seat and Steering wheel are they. Centerpiece to steering wheel is missing. Has a spare gas tank and the original one. Seat is rough but rebuildable. Windows are ther but some are cracked. Vent door on cowl appears to be screwed down. If not it's frozen in place.

VIN plate is missing from the glove box door and from the firewall. Could not find the number of the fram rail but I know it's hard to locate. I di find the following numbers stamped into the firewall above the lip that seals the firewall to hood seam whenh it is closed. The information I found stamped there is as follows:
DL8 D3 170

Anybody know what these numbers indicate. The VIN# on the title is 98RCXXXXX # which appears to be in line with others that I have seen. I just can't find that number anywhere on the truck.

For now, I plan to pass at least at this price. I am off to look at another morre affordable possibility norhtwest of town on Monday.

Again thank you to everyone for the feedback. I suspect I will be starting a fe more of these threads before I pull the trigger on the right one.

 

I live in New Mexico and had a 50 myself sold it when I was seventeen. I hate thinking about it. It was all there minus the rust and had a nice 350 and tranny. Was running but had some brake problems. Any way I sold it for $750.00. Boy was that one of the dumbest things I ever did.

On to my new project which is a 54 that I just picked up. I bought it for 1,000.00. I know the guy who was selling it. He had an IFS system installed a new rear end an extra cab and two extra doors. The story to this one is he was going to have it painted and the guy who was going to paint it got arrested. The truck sat in pieces for nearly 7 yrs. The motor was balanced and blueprinted.

Im in the process of cleaning up the motor and tuning it up for the grand start. I would wait to see if you can find one for better. There's always a story behind a lucky find.

 

Uhhh ... do you need someone to finish their restoration in your garage? You know, just to make sure you have the right type of garage and all the tools you need? I'd be willing to check it out thoroughly and help you buy any tools you don't have. Heck, I'd also be willing to check out the new tools so they are ready to go when you buy your truck. Is the garage air-conditioned, by any chance?

 

T04, Ok, at least you are going in with your eyes wide open thats great! Too many times projects like this start with being overly ambitious and underskilled/underfinanced and end up in a pile of pieces in a salvage yard. To me THIS ebay # 4533542466 would be a worthwhile starting point. Granted it's not a resto project but it could easily be a resto rod (stock exterior appearance modern dependability in the drive train). In fact if I didn't already have one I might be bidding on it. If your fun is in hunting down OEM parts for a frame off restoration, why not start with a solid frame and search out good body components while you do the frame and driveline. Finding and restoring to good running order stock engine and drive train will probably consume at least a year giving plenty of time to find just the right sheet metal. If you should in the meantime find a good complete truck you'll already have a chassis ready to roll under it.

George you already have a garage, let me be the one to test out T04's while I'm waiting (and waiting, and waiting...) for mine to be built. I'll even bring any tools he doesn't have.

 

sounds like it about time to go for it

 

Can anybody help with the Numbers I pulled off of the firewall of the $2,000.00 truck? They are: DL8 D3 170

I suspect the title he has may not go with the truck since all of the VIN plates have been pulled and the VIN # on the title can't be located anywhere on the truck. I really don't think it was the current owner that did this. My suspicions are that it was a previous owner to him. I suppose they could have both fallen off at some point. I am having a very difficult time finding a truck without title issues. Is the common? Last thing I want to do is get the truck finished only to have some long lost owner crawl out of the woodwork to claim it. Probably being paranoid but better safe than sorry.

 

Are those numbers stamped right on the sheet metal, or on a tag? They really don't look like anything from the rating plate (like a VIN as you are aware). Wasn't there a tag attached to the firewall on the earlier 50's trucks as well as the rating plate? Seems I remember someone mentioning it in an earlier post.

 

Depending on the state you can get a new vin# assigned to a vehicle without one by the state or there are places on the internet that will sell you a title and ID plate from an actual but scraped out vehicle that matches the one you have. The former is good if you are assembling parts and pieces, the latter if you want to register a vehicle with long lost paperwork and your state will only certify it as a new homebuilt vehicle.

 

The VIN should be in three places. One - on the frame rail (can't find it or read it and as others have indicated, it is the most difficult to locate. Checked both frame rails), two - on a tag rivieted to the firewall on the passenger side (tag is gone), three - on a tag on the inside of the glove box door (tag is gone).

The numbers I have posted are stamped into the firewall above the lip where the back of the hood seals against the firewall when the hood is closed. Basically right on the firewall in front of where the vent damper is located on the cowl between the hood and the windshield.

Any and all help is appreciated. Thanks again.

 

I looked at the cab on my '48, it appears that the vin tag on the firewall is original...least by the rivets that are in there...anyway, the VIN and numbers on the firewall by the vent, don't appear to be related...other than a few matching numbers and letters here and there, but in no particular order I can see.

The tag is missing from the glovebox lid, so can't compare to it.

I'll PM you the VIN tag number and firewall number so you can see what I'm talking about

 

In my opinion unless you have the capabilities and desire to do the mechanical and body work yourself you'll be better off buying a restored truck. The price tag may seem high but the cost of restoring any old vehicle can snowball in a hurry, especially if you don't do all of the work. That $2,000 or $3,000 truck can easily turn into a $20,000 vehicle.

 

Appreciate the feedback. My preference is to do the work myself. Mechanical is not an issue. Body work - ehhh. I can learn. I am not doing this to be financially prudent (don't let my wife see this). I am looking to do this because I want to. Reason I mentioned the price was to get a feel from others on what they think is reasonable since most folks on here have already done this. More data points makes for better data. Obviously, whatever I can save on the inital purchase will be money available for the restoration. I love the $2,400.00 truck that StevenK bought up in MN. Something like that would be an excellent specimen to begin with but there aren't many (if any) out there in that condition at that price. (want to make a quick hundred bucks StevenK - I'll give ya $2500.00 for it)

I am a patient man. I've been looking for a few months and I may have to look a few more to find what I want.

 

Texan2004, without seeing some pictures of it it's hard to answer. Look at my gallery, I purchased my 51 for $250.00. The bed and running boards are new, as well as all the glass. It has taken me a year to get it back on the road. I have spent close to $5,000.00 getting it to where it's at.

Rod

 

I took a look. Nice truck. Would love to see what it looked like when you got it.