Need help determining value.
Thread Starter
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Fleet Mechanic
Joined: Jul 2000
Posts: 1,491
Likes: 343
From: SE Iowa
Need help determining value.
Any idea of a value for the '38 in my gallery? I have all the parts (fenders, box, hood, etc) for the truck. The only thing that has been restored is the frame and cab in the pictures. Cab was chopped 4". Everything else is in need of complete rust repair. Its a 81-C if that helps.
The reason I ask is that my dad never obtained a title for it, and to get it title, I need 1.5 times the value for a bonded title. So I need some clue as to how much I need before I start the process. Thanks in advance. Hopefully I can get it titled soon so I can can start working on it. Then I can become a regular in this forum instead of just popping in once in awhile.
The reason I ask is that my dad never obtained a title for it, and to get it title, I need 1.5 times the value for a bonded title. So I need some clue as to how much I need before I start the process. Thanks in advance. Hopefully I can get it titled soon so I can can start working on it. Then I can become a regular in this forum instead of just popping in once in awhile.
Postmaster
Joined: Aug 2003
Posts: 4,172
Likes: 1
From: Oakdale,Ca.
Current value now? Or once all put together and running?
If trying to figure out the value as it is now, you'll need to figure out parts prices...i/e a grand for the cab, a grand for the frame, etc.
Is the s/n still on the frame? If so, you might be able to title it that way through broadway, etc...then transfer to your state...but I don't know your states DMV laws.
If trying to figure out the value as it is now, you'll need to figure out parts prices...i/e a grand for the cab, a grand for the frame, etc.
Is the s/n still on the frame? If so, you might be able to title it that way through broadway, etc...then transfer to your state...but I don't know your states DMV laws.
Postmaster
Joined: Aug 2003
Posts: 4,172
Likes: 1
From: Oakdale,Ca.
Well, what I can tell you, a clean 35-40 frame will run you 500 bucks, minimum...you've added some to it...but just FYI.
The cab and doors unchopped and solid would bring 500 or so, but the chop has to be worth something, especially since you have the doors donw.
Fenders bring 100-400 depending on condition, RB's can go from 50-250 each, again, depending on condition, the hood could bring 100-200, the grille might fetch another 200+...but...as a "project truck", you might be able to swing it at 2500 value without raising eyebrows...now if it were me, I'd just tell'em it was worth a grand in the current condition and needs "total restoration". I jut did that at the Ca. DMV (told them my '36 was worth a grand) and they didn't even bat an eye....I too have all the part to put it together, minimal rust repair, mainly hammer and dolly work.
The cab and doors unchopped and solid would bring 500 or so, but the chop has to be worth something, especially since you have the doors donw.
Fenders bring 100-400 depending on condition, RB's can go from 50-250 each, again, depending on condition, the hood could bring 100-200, the grille might fetch another 200+...but...as a "project truck", you might be able to swing it at 2500 value without raising eyebrows...now if it were me, I'd just tell'em it was worth a grand in the current condition and needs "total restoration". I jut did that at the Ca. DMV (told them my '36 was worth a grand) and they didn't even bat an eye....I too have all the part to put it together, minimal rust repair, mainly hammer and dolly work.
Thread Starter
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Fleet Mechanic
Joined: Jul 2000
Posts: 1,491
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From: SE Iowa
Thanks Mike. I really had no idea where to start. I'm still somewhat new to this era of trucks. So I have no idea of prices. I spoke with the DMV people this morning and couldnt get a straight answer other than I had to apply for a Bonded Title. Unfortunetly, it looks as if the state sends an "investigator" to verify all the info and vehicle ID, then "establish" value. The part that sucks is even if they do agree if only worth a $1000 as a needs restored, thats $1500 I have to live without for 3 years until the bond is up. Looks like I dont have a choice.
Thanks again!
Thanks again!
Postmaster
Joined: Aug 2003
Posts: 4,172
Likes: 1
From: Oakdale,Ca.
Just keep things like the fenders and hood stashed away and out of sight, that would severly diminish the value for the bond...basically start with just how it sit with the cab on the frame and have them come and inspect it..tell'em you're in the process of heading to swap meets/etc to find the rest of the parts.
Out of sight and out of mind when the inspector comes
Out of sight and out of mind when the inspector comes
Postmaster
Joined: Aug 2003
Posts: 4,172
Likes: 1
From: Oakdale,Ca.
PS...I know what you mean by "living with it", I have a line on a '66 289 I have to put in my '36 to get it titled as "pre-smog" era vehicle, since my s/n's are not legible...my title will say "1966 Ford PU" on it...oh well, I'm building it to enjoy and modify a bit, not worried about originality.
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Fleet Mechanic
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From: SE Iowa
Good point about keeping parts out of sight. The bed is sitting on the frame because I have no where else to store it, but the fenders, hood, and running boards are up in the garage attic. I guess its like a dont ask, dont tell policy.
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Senior User
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From: Minnesota
Stryder, find a company that will bond the title and ask about pricing. I checked into it for an MN title and the bond was a couple hundred dollars for up to $20,000 value. Remember that you can bond the whole value yourself or pay less to have some else bond the value.
I have always wondered though how the bonding really works, I know that the bond is to protect the state from someone in the future claiming ownership. But what does the state do, just pay off the claim with the bond or pay them off and give them the car?
I have always wondered though how the bonding really works, I know that the bond is to protect the state from someone in the future claiming ownership. But what does the state do, just pay off the claim with the bond or pay them off and give them the car?
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Fleet Mechanic
Joined: Jul 2000
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From: SE Iowa
I'm not real sure about the bond issue either. Not even sure how about getting one or finding a company to get one. I did a quick search, but kept coming up with companies that only do construction bonds. Plus they have to be liscenced in Iowa. I'll keep digging, and see what I can find.
Senior User
Joined: Aug 2006
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From: Minnesota
Try your auto insurance agent/company, they usually do it. If not yours try one that deals with classic cars, if nothing else they should be able to point you. There are couple of insurance companies in the TC MN area that do this type of thing regularly, like I said I was looking into doing it with my first truck but I got a "parts" truck with a title so I will use that frame to start my '46.
I did a quick google search ("auto title bonding") and came up with this company:
http://www.bondsexpress.com/other_miscel.htm?gclid=CPGsxZSmrI4CFRcTIgodekmsVA
Assuming they require even $1000 or $15 increments, their $100 minimum is actually $105 for a $7000 bond ($375 for $25000 bond).
I would try to deal with someone local though, and like I said try your insurance agent first. If you still have trouble, I will track down the name of the company that I was given by my agent for you. Figure a MN insurance company is likely to do some business in IA also?
Remember also that if you pay someone else to post the bond, that is a cost that you will not get back, if you bond it yourself you will get the whole thing back eventually, maybe if someone doesn't claim ownership .....
I did a quick google search ("auto title bonding") and came up with this company:
http://www.bondsexpress.com/other_miscel.htm?gclid=CPGsxZSmrI4CFRcTIgodekmsVA
Assuming they require even $1000 or $15 increments, their $100 minimum is actually $105 for a $7000 bond ($375 for $25000 bond).
I would try to deal with someone local though, and like I said try your insurance agent first. If you still have trouble, I will track down the name of the company that I was given by my agent for you. Figure a MN insurance company is likely to do some business in IA also?
Remember also that if you pay someone else to post the bond, that is a cost that you will not get back, if you bond it yourself you will get the whole thing back eventually, maybe if someone doesn't claim ownership .....
Last edited by soule46; Sep 5, 2007 at 07:37 AM. Reason: Additional info
Thread Starter
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Fleet Mechanic
Joined: Jul 2000
Posts: 1,491
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From: SE Iowa
Thanks, I'll give my insurance people a call. I doubt anyone will have claim to this truck. My uncle bought some timber/pasture land in the early 80s. He and my dad found this abandoned towards the back of the property. My guess it hasnt been titled for 40-50 years.
Senior User
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From: Minnesota
Originally Posted by stryder
I doubt anyone will have claim to this truck.
The only other possibility is that someone had rights to the land that were not dealt with correctly (ie a spouse in a shared property state like MN. In MN since I am married I can buy a property with just my signature, but if I sell it I need my spouse to sell it also. That is one of the reasons that mortgage companies require title insurance, to protect them from unkown things like that. The good thing for you is that they would want a chunk of the value of the real estate and likely could care less about some "junk" that was out on the back 40.)
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Joined: Mar 2007
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From: Glendale, AZ
I had to get a bonded title for my 29 Ford Sedan Delivery. I had a title for it but it had an aftermarket frame and different engine so there were not any serial numbers. In Arizona the MVD has a book that will tell you what the vehicle is worth. They of course don't tell this when they tell you that you need a bond. So I went and got a bond for the value of the vehicle in construction for $200 and when I went back to MVD they told me then that the value was only $500(a $50 bond). Then they issued a VIN # and everything was good.
Kevin
kstones63
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63 F100 Project
29 Ford Sedan Delivery
Kevin
kstones63
__________________________________________________ _________________
63 F100 Project
29 Ford Sedan Delivery