What to offer on M37?

[USMC 00-08]

You would be better off buying "the wifes" truck with the 489s.

I would have to agree with you there. Just not practical for me to go to Georgia right now to get it. Plus my wife would be more agreeable to spending less to get this one and slowly putting money into it. I am sure many of you have the same issues.


Still no answer back on my offer so maybe I am not getting it anyway.

 

[Oldfart]

Try going by with 5 crisp Benjamin's to make an inquiry as to what he wants to do with the truck. The sight of money makes the offer more real and immediate.

I could go on about what I paid for my first M37 ($300) and it ran, and it had troop seats, and a soft top cab frame, and a bent drive shaft. But that would not mean much as all that happened back in 1963. Since then, I have purchased several other M37's and so has my son. Mostly we buy parts trucks to have lots of spares for our trucks, but we have also fixed a couple up for resale. Looking at the value of the truck for parts, I see an engine core worth more than a civilian Dodge 230 (there are differences in the block between Military and Civilian.) I see at least one really straight running board. Very often, these are rolled up from being off road in rocky terrain. The soft top cab frame looks like it is all there. Just from what I see in the pictures, there are more than enough parts to cover $500. I think your offer is safe and makes sense. ~~ A year and a half ago, I would have said that an offer of $1500 would not be out of line given the proviso that the engine would run, the radiator was at least repairable and there were no broken or stripped gears to have to replace. I would think that another $1500 for proper seats, a cab canvas, some windshield glass, distributor, regulator and generator plus a lot of elbow grease would have given you a decent usable truck worth $3500 to $4500. ~~ Today, who knows what something may be worth tomorrow or the next day. You have been pitched more than once with a running truck price of $2500 (all be it not in your part of the world) that is about 2/3rds of what something like that would have brought a couple of years ago (assuming it is as represented.) I think your approach is properly cautious and if successful, it should get you underway with the addiction the rest of us have so badly.

 

[crasheej]

 

[jollyroger]

1998 dollars. I bought a complete running and driving straight sheet metal hardtop with winch truck for $2800 in Phoenix. The guy needed money and was motivated to sell. This one has become my keeper. At the time most of them setup this way were $4500. We found an ambulance, M-43, in Las Cruces NM for $4500 no winch and had some rust but mostly all there and it ran and an extra motor. My sister wanted the M-43. We picked up both trucks on the same trip. Got home and I have been wheeling mine ever since. The M-43 lost the motor within 40 miles and has sat ever since.

My point is that I got a bargain and my sis got a bad taste of what can happen even when you pay good money for a truck.

It all comes down to what you are comfortable spending. It is not a running driving truck. It is close to home.

You can buy good running and driving trucks for $2500 nowadays. I did it in the past. But are there any close to home.

Sounds like you have started the conversation. Like Oldfart said Benjamins in hand can carry the conversation a long way. I would bring a grand in cash. Have $500 in one pocket. $200 in another pocket. And then stash a $100 or two somewhere in what you drove there. Or bring a friend that can "loan" you $200. Save the last $100 for getting the truck home and taking your friend out to dinner to celebrate.

 

[USMC 00-08]

Still waiting on a reply from the owner. He is currently out of town.

 

[USMC 00-08]

I finally heard back from the man. He said that after seeing my enthusiasm for military vehicles, it got him excited about them again and he has decided to keep the M37 to restore for himself.

Oh well. I am happy that he isn't going to scrap it. I guess I shouldn't act so interested next time.

 

[JHawes]

Well that's a kick in the groin!

I bet that it sits there for many more years and collects more dust.

 

[USMC 00-08]

Probably so. His partner wants to sell it so maybe he will change his mind in a few months.

 

[Michael]

I am trying to get my head around what the current value of a M37 is and found this thread that is 10 years old. Would anyone care to update their opinions on what this truck would be worth today? Did it ever go back on the market?

 

[hndrsonj]

I've sold several in similar condition for $2,500 each recently.

 

[Oldfart]

I've sold several in similar condition for $2,500 each recently.

I purchased several for parts out of a salvage yard and the average I paid was over $2K. The yard owner was firm at $3K for the complete not running units so I made a package offer on all that he had.

 

[fasttruck]

If you plan to drive your truck on the road make sure you get a title or whatever documents your state requires to get a license plate. Parts are not as easy as they once were but some European units from the likes of France or Norway are being returned and sourced for parts. Such dealers advertise on line or in Military Vehicles Magazine. I priced a gas tank, pickup tube and a fuel gauge sender for a friend and with new parts it was a $700.00 just for that. Add in tires, tubes, brake master and slave cylinders, batteries and you can be out major coin before you start the engine.

 

[tobyS]

I watched a Jay Leno show about his 6x6 Power Wagon repower with 4BT. The above would be a great candidate for modern drive gear and sell the OEM stuff.

I bought a V6 Pontiac Bonneville SSEi 3800 with supercharger that would fit nicely (yea, I know it's and old thread, just thinking).

 

[Michael]

I think that is a very reasonable offer and if he shuts you down make $100.00 increment bids! Like I had advised you can buy one from a good driver for $3500-$4500 and a real fine turn key unit $9500-$14000.00 $14000.will be a show vehicle and that is a lot of money for a M37,but I will bet you will have close to $8000.00 before your done with that one! I spent $1000.00 on one and $600.00 shipping only to have some what of a start,the bed was totally gone all four leaf springs junk,wiring shot,fuel and brake lines gone and the list keeps on going and there is not a end in sight for awhile. So good luck to ya. and i have a M43 project also.
hb

What about the trucks in these conditions? If what was a $500 parts truck is $2000 now, is a $10,000 show truck really worth $40,000?

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[Michael]

I watched a Jay Leno show about his 6x6 Power Wagon repower with 4BT. The above would be a great candidate for modern drive gear and sell the OEM stuff.

I bought a V6 Pontiac Bonneville SSEi 3800 with supercharger that would fit nicely (yea, I know it's and old thread, just thinking).

There are probably more old repowered and fixed with civilian parts/12 volt conversions than bone stock trucks out there at this point.

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[Oldfart]

What about the trucks in these conditions? If what was a $500 parts truck is $2000 now, is a $10,000 show truck really worth $40,000?

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Way back in 1963 I bought my first M37 for $200 and spent about $100 to get it on the road. My brother-in-law bought one at the same time for $300. They were surplus to the Forest Service and had some rough sheet metal. Door dings, curled fenders and wavy front bumpers. Over time we traded parts with George Epcar in Denver to get things fixed up a little. For $5 he would swap our doors with dents for straight ones including good glass. We had to pull the doors and remount ours on his to keep his stuff intact. 5 years after I got my truck I bought a couple of parts M37's off GSA surplus for $300. Lots of major pieces missing like an axle and an engine, but lots of good parts to keep our two trucks running for those Rocky Mountain off road trips. Those days of cheap M37 stuff are gone forever. 20 years ago I could still find complete M37's for around $1K that I could fix up and resell for $2500 without too much trouble. Those days are gone too. Today fix-upper M37's are harder to find and the parts cost more. I am not sure why, but there is more to all this than the money. I once heard that the one that dies with the most toys wins.

 

[frank8003]

You study and offer whatever it is You want to pay to the seller that does not necessarily have to sell that thing.
That is the IRS definition of a vehicle deal.
Anything bewtween a buck and 15 thousand bucks.
Go see others that have them. Make a deal.

 

[Michael]

I once heard that the one that dies with the most toys wins.

I am sure I am in the running to win then.

I have 3 that I bought 15 to 20 years ago. Got started on one but didn't get too far along with it. I started buying running CUCVs and M35s when GL started flooding the market with them. Then sh.. happened and I have been away from the hobby for about 8 years. Thinking about thinning the hurd and wondering if the m37s might have someone out there that wants them more than I do.

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[Karl kostman]

If I were you I would buy the Wife's truck it sounds like a very nice 37 and at 2500.00 you will be a thousand miles ahead of putting all the time and labor into this one and seriously for 2500.00 for the wifes truck you will have 6 to 8K into this one to get it done!
KK

 

[Mullaney]

For another perspective: On Facebook in the "Military Vehicle Lovers !!! ( MVL )" group - there is a truck that has spent most of its life outside the barn. The condition is nowhere near as good as the pictures you posted. The hard top on this one appears to be built out of plywood.

Joel Gardner has it in Dryden Michigan. Cash deal only and he wants $800 for it. That isn't a bad deal in my opinion but I have more projects than I need for the time being...

Scratch that... Just went and looked again and now it says (SOLD) 1953 M37 Dodge. Oh well, at least you have numbers to compare... It took 5 hours for it to sell at the price point. Had a fiberglass top that went with the truck as part of the sale. Couldn't resist the temptation to snag and post a few of the pictures. Fuel tank is obviously non-standard. Wiring has definitely been cannibalized too. But for that price the sheet-metal is pretty darn good...