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So I know a lot goes into setting value to a vehicle, but could anyone give me a ballpark on the value of a mostly original, running, 1949 B-1-D 1-ton pickup with a rebuilt original motor and transmission, new but leaking brakes, a leaking gas tank, a decent but faded DIY paint job and a little bit of rust on the cab??? Even a range would be nice. The truck has a great history in my family, but I’m in need of the money so any help would be great.

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A lot of your qualifiers will change the value to a buyer.  Without pictures it's hard to guess what some of them really mean.  You could be anywhere from $1000 to $5000.

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  • 2 weeks later...

Mr JBNeal, I’m think I will have to do a bonded title for the ‘49 Dodge B1B of my father. The state of Illinois will want 1 1/2 times the value of the truck to issue a title and I’m wondering how to set a price on a old truck that is completely torn apart and hasn’t been titled in 58 years. Any suggestions?

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When I bought my '49 1-ton, it had an Oklahoma title that was not signed by the owner, but I was given supporting documents from probate proceedings that the man's son turned over with the bill of sale.  I assumed there would be no problems with getting a TX title, so I got to work to get the truck running 2 yrs later.  Then reality set in when TXDoT and county registrar told me what forms needed to be completed since the paperwork that I produced showed that the chain of ownership had been broken, which was a big no-no.

 

The bonded title is used to establish a new chain of ownership, with the surety bond used as an instrument of protection if any legal claims are made to the vehicle's ownership.  As it was explained to me, the bonded title is primarily used on newer vehicles that have gotten mired in some sort of financial abyss where the title has been lost because too many hands were involved, such as dealers who do not file the correct paperwork, financial institutions that repossess vehicles then liquidate through auction to said dealers, etc...these newer vehicles are a higher source of tax revenues than antiques, so I was advised with a wink and a smile to just get the title transfer papers completed with signatures in the correct spaces and not go through the bonded title process...cuz the agencies involved are not in the business to verify signatures, just to get the paperwork filled out completely for taxing purposes. 

 

The big question that ya need to answer on an antique without a valid title is if there might be any legal claims to ownership, cuz ya don't want to go through the mess of the stolen VW Microbus insured by allstate...if you are confident that will not be a problem, then get the truck running before messing with the paperwork.  Sometimes plans change, so why bother getting the taxation paperwork in order if the thing isn't even going to be using the roads.

 

additional information - bonded title revelations

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Yeah we getting into legal advice here ... every state is different.

I have gone through a bonded title in Texas and cost me $300 ... was painless   Every state is different.

 

Really a tough place to ask for legal advice though, what worked for me may not work for you.

 

I personally would not spend thousands of hours & $$ on a vehicle with no title.

If you are a seller and short of cash, This process seriously lowers the value of your car.

Someone needs to go through the title process to fix & drive it.

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I’m not really thinking about selling the truck, I have had it for years. But I took it apart many years ago and I kind of feel that I need to get it back to together. If I do get it going, I would probably just give to a nephew in the end. But I like to pursue a title at the same time. I don’t have any bill of sale or anything like that. My older brother told me that Dad got it from the landlord of the farm in Princeton and it’s been here every since. 
According to the state’s web site, I need an appraisal then pay 1 1/2 time bond to get a title. I guess that’s the real problem. Where do you get a appraisal on a pile of old truck parts. It sounds like the bond comes back to me in 3 years. So I won’t be out the money. 
 


 

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2 hours ago, Panhead said:

 Where do you get a appraisal on a pile of old truck parts. It sounds like the bond comes back to me in 3 years. So I won’t be out the money. 
 


 

I went thru the bonding process back in 2000 with a 67 charger I purchased for parts from AZ and had it trucked up to IL. I had only received a picture and it was a shell but solid desert metal. It arrived sitting on the top rack of a smaller transit trailer with no wheels on the car and some parts in the back. It was to nice to to cut up for the panels so I decided to get a title.

 

To answer your question on the where to go.

I took the pictures sent to me of it in it's current state to a local car lot. Car lots buy and sell cars and usually have someone that will write up an estimate/appraisal.  Doesn't have to be much on an old car or truck especially if it is not running and make sure it is on the dealer letterhead with the name of the appraiser (see my example). Some folks make the mistake of fixing them up before trying to get the title which could lead to more cost to get a title and used car tax. I bought the car in August of 99 and applied for bonded title in 2000. It cost $100 for the bond and I received a bonded title about a month later. After 3 years I got my money back. I don't believe the appraiser charged anything but I offered to pay. There was a $15 dollar charge for the paperwork to process the bond from the insurance company at that time. I had paid $500 for the car which I told the appraiser and that is the price he put on the estimate😉.  

 

The 2 pictures are the hard copy photos the seller sent to me of the car and that I brought in to the car lot. Appraiser never actually looked at the car in person.  

IMG_0194.JPG.78042965befaec7d244445f0c25ba5a5.JPG1759077581_GoldChargerFirstPic(2).jpg.8e40bb1b21e6df1ef1074e4e6a24e721.jpg

Edited by Veemoney
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Thank you Veemoney, your experience makes me feel better. That’s kinda what I was thinking I would do. And it makes sense to get an appraisal before you put a lot of money in the vehicle cause the most value the higher the bond. 

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