While $40 isn't insanely expensive, you can probably get a vintage razor for much cheaper at a garage sale -- or even from your grandpa's collection of old stuff. Plus, there are some really cool vintage styles to choose from, if you're into that.
To restore your razor, you'll need some regular household cleaners like Scrubbing Bubbles and toothpaste, along with a nylon brush and cotton swabs. If you have some metal polish and some barbicide, that will help too. Check out the full guide at the link below for more detailed instructions, and good luck.
How to Buy and Restore Vintage Shaving Gear [Art of Manliness]