Value of a m37 ?

[hemichallenger]

I was looking at a m37 that is completely restored and was wondering what a fair price would be?

 

[Boss Doug]

 

[hemichallenger]

Should have seen that comming.

 

[nattieleather]

Well, How much are you willing to pay? How complete is the truck. It's green with white stars, but is it restored or just repainted? What are the mechanicals like? Is all the electrical complete and working properly? Does it run and steer correctly? All these are factors that you need to take into consideration when asking how much. A good price range for a truck that runs and looks good like that one would be anywhere from $2K to $5K depending on the above questions. How much are you willing to pay, how much the owner is asking and what is it's condition. Oh and by restored I mean that someone with mechanical skills went through the truck and took it down to the frame or took ever piece off the truck cleaned, repaired or replaced and put the truck back together.

Good luck.

 

[135gmc]

He's right - you usually get what you paid for. A runner that has everything working correctly and the right parts (no 12 volt conversions, no messed up wiring, no engine mods) should go for about $ 5000. If it has been taken down to the frame, sandblasted, engine rebuilt, new wiring, new glass, correct paint, new canvas, then you would be looking at over $ 10,000 - maybe more if the work was done by a restoration specialist instead of by the owner. The bottom line is that when you sell a vehicle, you find out that you are being paid about 5 cents per hour for your time.

If you like vehicle restoration, look for a vehicle that's all there but needs completion --- but if you want to just drive it and not fix it, then spend the extra up front.

M37s are still very common, but many of them were butchered by fire departments, city garages, and other end users. Parts are still very available, but buy new parts when you can, because the stock of new parts will become less and less. Keep extra spark plugs, points, a spare coil, a headlight or two, 24 volt bulbs, and other consumables on hand. When I used to have an M37, I kept an ammo box of spares under the passenger seat by the battery box. Things never fail in the garage - they fail somewhere away from any parts supply. If you have canvas instead of a hard cab, plan on brushing on coats of canvas waterproofing everry once in a while. Don't buy something high tech that's made for nylon tents, buy a product (Canvak) that's loaded with parrafin, mildew-cide, and some mineral spirits. That will do a great job. Canvak is even available with OD pigment in it as well.

When you need tires, the old MIL treads look nice, but they don't last very long when you drive on paved roads (asphalt roads are harder on the tires than concrete paving). Look for a more modern tire with a highway tread. It's not as original, but it's a lot easier to drive and the tires will last a lot longer. If you want to 100% restore it, then tire life won't matter - Wallace Wade tires in TX has correct MIL tires.

 

[hemichallenger]

Yes this was a complete restoration. Not a paint job. It was done by a class of inmates. I have seen a lot of m37s but not many had a real restoration so nothing to compair it to so I thought someone might know. So I guess around 10 k. Cool

 

[135gmc]

Crawl under and take a good look before you reach for your wallet - check out the wiring for patches, look for leakage from anything. The driveshaft / trans seals might weep a little if they have the older leather seals, but they slouldn't be leaking. If you can, pull the trans & diff fill plugs and use your finger to be sure they are full, and to also take a feel of the oil. Check if the wheel cylinders are leaking.

You might have a winner there, but it never hurts to be careful.

Take a look at the supplier's web sites, and check out the prices for new canvas, etc, and it can all add up very fast. Figure out the cost of a paint job, etc. Who did the body work? Was it body repair, or 5 gallons of bondo? Bring a magnet with you to see if the body has more filler than steel. If it was rebuilt by inmates, labor was free, but did they spend anything for new parts?

When I rebuilt my M37, I rebuilt the engine, the transmission, the transfer, both differentials, the brakes, rewired it, new instruments, sandblast, paint, new glass, new canvas, new upholstery, new troop seats, 5 new tires - the whole 9 yards. The guy that bought it from me got a wad of receipts to go with the truck to show what had been done. I sold it for $ 9500 nearly 15 years ago.

 

[maddawg308]

I have seen good ones that were decent drivers and no rust, good paint, sell for $5K. Perfectly restored ones for $10-12K. Highest I have ever seen was a museum quality example sold for $26,000.

Prices are what you are willing to pay, especially in this economy.

 

[135gmc]

Amen - prices are what you will pay. These days, I don't spend untill and unless there is a good reason. My hobbies are still there, but progress is slow right now.

 

[WarrenD]

Also depends on your location. The Northeast seems to support slightly higher prices.
As for the photo, the color looks incorrect as well as the markings so if you are looking for authentic, then figure in a paint job and decals or stencils. I recently saw a "restored" M37 that had more fluid leaks than mine had at the time. Not a deal breaker, but it's time and money or much more money if you hire it done. The best thing might be to find someone local thru a MV club who would be willing to go with you and look it over. Most M37 owners become skilled in the problems and know what to look for.

 

[135gmc]

The color is wrong - it looks like 383 instead of MIL-STD-TT595 # 24087 (semi-gloss OD). The hood number is incorrect - it might be the right number, but I never saw a decimal point in the number. The good news is that if the paint was well done, it won't take a whole lot to repaint it. Paint isn't free, however. The other good news is that the front bumper and grill are straight - these are usually pretty beat up. Check out all the weatherstriping - the window mounting strips, the welting between the rear fenders and the body, the rubber where the front fenders meet the engine cowling, and the rubber strip that seals the windshield frame when the windshield is folded into place.

Nothing is a show-stopper, but anything that isn't what it should be costs time and $$ to change. Cosmetics are easy to change, and they make good Saturday afternoon projects.

 

[mattveeder]

A good clean resto can be valued in the $8500 area. But a correct to detail resto with lots of accessories can be worth much more. I guess it all comes to what someone is willing to pay.

 

[majorhitt]

You have to look at it this way, I may have put $10,000 into my truck, But Is it a good job and is it a correct job? Just because I put that much money into it doesn't always make it worth that much,Some people throw stars and numbers and USA on the truck and they think it looks great. What's up with the over sized TP on the fender and what looks like a small star in front of the driver's door and the cargo bows. Sure some of these are an easy fix, But if this is what you can see that has issues what about the things you can't see?

 

[3dAngus]

I've been looking. Without seeing more pics, primarily the engine compartment, the undercarriage, especially under the floorboards which were probably rotted out at one time, the bed, and tailgate, and you would have to look at the well known to be a problem fuel tank, I would say $7500. You go up or down from there based on what you see and haven't shown listed above. Good luck. If at $7500 and you don't buy it, PM me. I wouldn't pay $10K for any M37 anywhere, (unless full body off professional restoration), but that's just me. They are to easy to tear down and repair. Not like a car at all, which is much more sophisticated.

Oh, edit here:

Please send more pictures if you have them. Gotta see that engine compartment, bed, and undercarriage if you have that too. It looks good! Everything else would have to match in quality from end to end including inside to warrant $7500-10,000 or more.

 

[3dAngus]

Ted, did you decide to buy the M-37, and did you get any more pictures. Looks interesting.