What a 1940 Chevy Sedan Is Worth in Today’s Market

Most 1940 Chevrolet sedans trade between about $8,000 and $35,000 depending on model (Master 85 vs. Special Deluxe), body style (two-door vs. four-door), condition, and originality; exceptional restorations or high-end restomods can command $40,000 to $70,000 or more. In practice, solid drivers typically sit in the mid-teens to mid-$20,000s, while projects fall below $10,000 and show-level cars or premium customs rise well above $35,000.

Why It Varies: Models, Trims, and Body Styles

Chevrolet’s 1940 lineup included the entry-level Master 85 and the better-appointed Special Deluxe, both offered as two-door and four-door sedans. Two-door sedans usually bring stronger money than four-doors, and Special Deluxe examples—thanks to additional trim and features—tend to outpace Master 85 counterparts when condition is similar. Originality, documented history, and the quality of any restoration or modification also move the needle significantly.

Current Price Ranges for 1940 Chevy Sedans

The following ranges reflect typical retail asking and transaction figures seen across major U.S. markets in late 2024 to 2025, collated from enthusiast price guides and marketplace trends. They offer a realistic snapshot for stock or lightly modified sedans; exceptionally rare provenance or extraordinary craftsmanship can push values above these bands.

• Project (complete but non-running/needs major work): $5,000–$9,000
• Driver (running, presentable, older amateur or partial restoration): $12,000–$20,000
• Well-restored stock (quality paint/interior, sorted mechanically): $22,000–$32,000
• Show-quality stock (concours-level, correct details/documentation): $35,000–$45,000
• Mild restomod (updated drivetrain/brakes, tidy finishes): $20,000–$35,000
• High-end custom/restomod (modern powertrain, AC, premium paint/upholstery): $40,000–$70,000+

As a rule of thumb, comparable two-door sedans can bring a 10%–25% premium over four-doors; Special Deluxe trim can add another modest bump when condition and originality are strong.

What’s Moving the Market Right Now

A handful of factors consistently drive the spread between an average driver and a top-dollar example. Understanding these will help you position a car accurately and spot value when buying.

• Condition: Body and paint quality, chrome, glass, interior materials, and the thoroughness of mechanical sorting.
• Originality and correctness: Matching-style 216-cid “Stovebolt” inline-six, period-correct finishes, and factory trim raise stock-car values.
• Body style: Two-door sedans generally outpace four-doors; coupes (not the focus here) bring considerably more.
• Documentation: Build sheets, period registrations, restoration records, and photo logs support stronger pricing.
• Quality of modifications: Thoughtful upgrades (e.g., 12-volt electrics, discreet disc brakes) add value; hasty swaps detract.
• Market timing and venue: Well-presented cars sell stronger via targeted auctions and specialist dealers than casual classifieds.

No single factor guarantees a premium, but a favorable mix—sound metalwork, tasteful originality or professional upgrades, and credible paperwork—tends to deliver the best results.

How to Estimate Your Specific Car’s Value

To pinpoint a realistic figure for a 1940 Chevy sedan you’re buying or selling, follow a structured approach that blends documentation, inspection, and comparables.

1. Identify the exact model and body style: Master 85 vs. Special Deluxe; two-door vs. four-door.
2. Document condition: Photograph exterior, interior, engine bay, underbody; note rust, repairs, and mechanical status.
3. Assess originality: Engine type, drivetrain, trim correctness, and factory-style finishes vs. modifications.
4. Compile service/restoration records: Parts receipts, machine work, upholstery invoices, and paint/body documentation.
5. Gather comps: Check recent guide values and live/archived listings for same model/body style and similar condition.
6. Adjust for venue and geography: Specialty auction results often exceed local private-sale figures; coastal and Sun Belt markets can differ.
7. Set a range, not a number: Price bands account for negotiation, marketing quality, and buyer preferences.

This process will sharpen your pricing within today’s market norms and help you defend your valuation with evidence when negotiating.

Key Inspection Points That Affect Price

Condition is king. An honest assessment of corrosion, structural integrity, and mechanical health can shift value by thousands of dollars.

• Rust-prone areas: Lower fenders, rocker panels, door bottoms, floor and trunk pans, and body mounts.
• Frame and suspension: Look for previous repairs, alignment issues, and bushing/spring wear.
• Drivetrain: The 216-cid inline-six and 3-speed are durable when maintained; check oiling, leaks, compression, and gearbox syncros.
• Electrical: Many cars have been converted to 12-volt systems—quality of wiring matters to value.
• Trim and glass: Original or high-quality reproduction brightwork and intact curved glass pieces are value positives.

Cars with sound metal and straight frames are worth restoring—and worth more when finished—than shiny examples hiding structural needs.

Stock vs. Restomod: Value Expectations

Both paths can be valuable, but buyers prioritize different things. Stock cars reward correctness; restomods reward drivability and craftsmanship.

• Stock appeal: Factory look, period-correct details, and documented restorations bring premiums among purists.
• Restomod appeal: Upgraded small-block or LS power, overdrive automatics, front disc brakes, power steering, AC, and modern wiring broaden the buyer pool.
• Quality threshold: Professional work with clean routing, proper heat shielding, and tidy engine bays commands top custom money.

If your goal is maximum resale, either go convincingly original or invest in a cohesive, professionally executed build—half measures rarely recoup costs.

Insurance and Agreed-Value Considerations

For collectible coverage, insurers typically underwrite on “agreed value.” You’ll need solid photos, documentation, and comparable sales to justify the amount; expect to revisit the figure annually as markets shift. Undervaluing can save premium dollars but risks a short payout if the unexpected happens.

Bottom Line

In 2025, a typical 1940 Chevy sedan is worth roughly $8,000–$35,000, with driver-quality cars commonly changing hands in the mid-teens to mid-$20,000s. Well-executed restorations and high-end customs break above $35,000 and can reach $70,000-plus. Model, body style, condition, originality, and documentation are the levers that set your exact number.

Summary

Expect $8,000–$35,000 for most 1940 Chevy sedans, with two-doors and Special Deluxe trims drawing stronger bids. Projects sit below $10,000; sorted drivers land in the mid-teens to mid-$20,000s; high-caliber restorations and customs stretch from the mid-$30,000s to $70,000 or more. Careful identification, condition verification, and current comps are essential to nail a defensible value.