Price of a REAL GP 38

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Well, there are no new GP-38's, they are all either junkers or rebuilt. An unrebuilt but fair condition GP-38 can be had for about $100,000, down about half from the prices four years ago. The ones that took a bath were leasors that rebuilt GP-38's into like-new GP38-2's. They cost between $600,000 to $900,000 depending on how much work was done and leased for about $450 a day in 2005. They are now worth about $400,000 and lease for about $300 a day. That's one of the reasons locomotive leasing companies are in big trouble.
 
UP2CSX said:
Well, there are no new GP-38's, they are all either junkers or rebuilt. An unrebuilt but fair condition GP-38 can be had for about $100,000, down about half from the prices four years ago. The ones that took a bath were leasors that rebuilt GP-38's into like-new GP38-2's. They cost between $600,000 to $900,000 depending on how much work was done and leased for about $450 a day in 2005. They are now worth about $400,000 and lease for about $300 a day. That's one of the reasons locomotive leasing companies are in big trouble.
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WOW, thanks for the info UP2CSX. I did not think they were that much. Is it possiable for a private person (non Meusem) to purchase one?
 


WOW only $300 a day. and 100k used thats cheep. I work my Rig for $78 an hour and have taken home $600 most days its out.. bought the truck for 3k invested another 3k and it was all paid for withing a month! a new rig can cost 120k
 
Sure, anyone can purchase a locomotive. They are a little expensive to ship (like $50 a mile by rail) and it would be nice if you owned at least a small railroad so you can do something with it. There are leasing companies that are starting to buy and accumulate units at the current low prices in hopes of making a killing when the economy recovers. The big problem is the lack of credit available and the current problems of CIT, which is in both the locomotive and railcar finance business, isn't helping.

Trent, those lease rates are "dry". The lessee pays the fuel and regular maintenance. The only thing the lessor pays for is major problems covered by the warranty, if there is one. The really nice rebuilds can easily cost $700-$800 a day wet. The junkers can be had for a lot less but they'll spend half their time in the shop.
 
dispatcher812 said:
If one was crazy enough and money was no issue, what would the cost of a GP 38 be? New compared to used?
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Crazy is the operative word here! :p
I have a couple industrial locos that I'm clearing out if you really want one.
I'm looking at getting a GE 25 tonner this fall, depending on finances after this summer.
I know someone who, believe it or not, has I think almost one of everything in the 1/1 loco department! :eek:
CPR is selling off dozens of -9's right now, just throw in a bid!
 
Yeah I know. It has always been my dream that if I won a big Lotto, to buy a LARGE plot of land and buy a few pieces for fun. I think I can do a good size layout in a caboose.
 
Interesting link, Terry. The price of locomotives has fallen even further since I last looked. The only one bringing any real money are some of the industrial critters in excellent shape. The one F unit regreared for freight duty was also bringing a pretty good price but a lot of junkers are priced even below the value of the steel. The combination of low steel prices and low demand has really hit the used locomotive market.
 


wow.. they've got a great collection of speeders too... and a NICE high-rail bronco.
I see alot of stuff from the National RR Museum... I wonder what gives?
 
How much would it cost to lay rail to the work place if you were to buy a loco? Now that WOULD be cool. Take the train to work. Tag a 'boose on the back end.....

Bob
 
I suspect the National Railroad Museum is experiencing the same financial problems as the rest of the world. Looks like most of the stuff they have for sale are units that are missing most of the mechanical parts and are in bad cosmetic shape. I guess you just can't save everything. :(
 
why would a museum care about missing mechanical parts as much? most units dont run...
 
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The National RR Museum has restored a number of locomotives to running condition for revenue service, hauling tourists. Even if the locomotive isn't going to run, they like to have at least the prime movers in place so they can be viewed after a cosmetic restore. That WC GP-30 is a good example of a donation they'd like to unload. It's in terrible cosmetic shape, has no mechanicals, and even the trucks are oddballs. In addition, the locomotive is not particularly rare except for riding on those Alco trucks. I have no way of knowing what they are really thinking, of course, but I was on the board of the Orange Empire Trolley (now Railway) Museum. We'd get donations that were far down on the list in terms of restoration. When money got tight, which was most of the time, we'd either look for a way to sell the unit in the used market, sell it to another museum, or, at worst, sell it for scrap value.
 
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