I'm looking into investing in a '79 F250 for real short money. The truck is getting a complete overhaul. New engine, 38" tires, air ride system and a whole bunch of other things. The previous owner is selling it and I wanna invest but I don't know what these trucks go for.The guy that's building it says it can easily be a $40,000 show truck when done. How can I determine the value of a truck that right now is just in pieces? I'm getting a full list of items that are going into this truck so if anyone can help it would be appreciated.
Honestly, deals like this are hard to quantify. Blue Book value doesn't really apply in this case, because if it did, it'd only be worth something like $2,000 (just throwing out a hypothetical figure).You also can't necessarily add up the parts list, because as most people that do restorations and customs will tell you (if they're being honest) you almost always end up spending more money on it than you'll get selling it. If you have a specific figure in mind, I'd just offer it to the guy. If he says, "No way!" or "Are you kidding?" just tell him to call you if he doesn't get any other offers. Who knows, your "lowball" offer might be the best/only one he gets.And never get so emotionally invested in a purchase that you're not prepared to walk away. If you can't do that, the seller already has you hooked.
The problem with a '79 F250, regardless of how ballin' it is, is that there's a very small market to re-sell it, buying it and hoping to get $40k out of it is a little unrealistic.