Scott- The Locomobile 38 is simply a slightly smaller model than the 48. The following are stats for the 48 and 38: Bore & Stroke-48-4 1/2 x 5 1/2, 38- 4 1/4 x 5; Wheelbase-48-142", 38-139"; Oil capacity-48-6 3/4,38-6 1/4; Water Capacity-48-7 3/4. 38- 7 1/2. The 48 cost approximately 18% more than the 38.