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Back from the dead: 1979 242 GT Restoration

DWBF1

New member
Joined
May 2, 2005
Location
(suburbs of) Detroit, Michigan
Checking in with my first redblock project! I've been a whiteblock guy forever but was presented the opportunity for a very cool restoration opportunity - a 2-owner, 79k original mile 242GT. Originally it was a very nicely equipped car with a (working!) factory sunroof and air conditioning and a Pioneer cassette deck.

Chassis number is VC 24245 M 1 158416.

Story goes that the first owner let it sit for a long time after something broke, and the second owner had been trying to buy it for years as they had worked together. The first owner refused to sell but eventually it was sent to a local tow/vehicle auction somehow (maybe the first guy died, I really don't know). It had sat outside for a long time, probably on grass/dirt as evidenced by the lower body corrosion.

The second owner saved it from the junkyard, literally buying it from the high bidder - a local salvage yard. It was quite fortunate he happened to be at the auction that day. It then went to the second owner's garage, where it has sat for 15 years without any progress. Despite his best intentions to restore it, he never got around to it, so it sat.

Given the scope of work, I could not just leave this special car in the hands of any old restoration shop. I was fortunate enough to be connected with Erik Baxter, an A-class mechanic and Volvo restorer in Battle Creek, MI, who has taken on the mantle of this ominous project. Everyone should check out his page - IE Volvo restorations.

Cosmetics

Since these cars are only original once and this one has such great patina, the current plan is to keep it 100% original and not repaint it. Where we fix rust spots on the body, we will clear and fade. We may consider a respray if it makes sense, but I am really hoping to avoid that. The floors are surprisingly solid, but the frame and trans mount will be repaired with all new metal. The trunk floor and cheeks will also be replaced as they are unfortunately quite rusty. Then, a light undercoating will be applied to the underside. (Update 1/7/2020: Probably will be repainting it, because it will just look better that way).

All lights, headlight trims, and the grille will be replaced with NOS units. Rear window louvers will be added as well. Commando bumpers will be replaced with regular ones.

Wheels are still to be determined, but right now the plan is for a set of staggered 15" BBS meshes on all 4 corners. I do have the original 14" wheels but they're a bit small in my opinion.

The interior is nearly perfect with only some minor dash cracking. Upgrades will be limited to steering wheel (either an OEM Volvo Momo Monte Carlo or an ATI Indianapolis) and an R-Sport gauge cluster.

Mechanicals

As "numbers matching" isn't really a relevant metric for old Volvos, we will be going with a "stock plus" mechanical refresh and ditching the boat anchor 2.1. Current plan is as follows:

Rebuilt 94 squirter block B230FT + intercooler
Rebuilt 14T with ceramic coating
LH2.4 swap / Lostartof chips
STS lightened flywheel
93 rear end w/G80 lockerComplete 3" exhaust with Borla stainless muffler, including a 90+ ceramic coated exhaust manifold
All braking components will be refreshed.
All suspension components will be refreshed (perhaps a small drop and some IPD parts will be added)
And now, for some pictures:

How I found it:
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IMG_2328_zpsaz9brehj.jpeg

IMG_2280_zpswtdrbiye.jpeg
(Nevermind the spilled sunflower seeds)

Outside:
IMG_2738_zpsw6ykgpzi.jpeg

IMG_2737_zpsxuee5lwc.jpeg

IMG_2736_zps4n03cory.jpeg

IMG_2735_zpsqet05vdj.jpeg


And now, in the shop:
IMG_2824_zpsh2ny0lld.jpg


I will continue to update this thread as further progress is made. Looking forward to saving a very special 242 GT!
 
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Hey!!! In the first image with the two door coupe and the wagons behind it. I also see a 940 at the end of the image. Is that a 940? Is it turbo? Does it has a g80 locker?
i just picked one g80 from a 93 940 turbo but it looks slightly different form the images I've seen in the internet.
Ok Happy holidays and regards to the pistons!!!
Dz:cool:
 
A few updates...deconstruction has made significant progress. Engine and suspension are out.

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Worst of the exterior rust is on lower trunk lip.
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Also have some frame repair to complete.
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We also got the interior pulled in preparation for metalwork, paint, and dynamatting. The carpet looked this clean after just a vacuum! Floors have a very tiny amount of surface corrosion, but nothing that can't be addressed.
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We also did some test fitting of the louvers and ATI steering wheel.
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Good luck with the restoration. That will be a cool car when finished.
My question would be, why not repaint it after the bodywork is complete?
You are changing the drivetrain, so your "it's only original once" statement seems to contradict your "numbers matching isn't a relative metric" statement.
I think what you're doing to get more performance is great, just think it would look fantastic with a fresh coat & new GT stripes!
Keep posting pics when you can.
 
Good luck with the restoration. That will be a cool car when finished.
My question would be, why not repaint it after the bodywork is complete?
You are changing the drivetrain, so your "it's only original once" statement seems to contradict your "numbers matching isn't a relative metric" statement.
I think what you're doing to get more performance is great, just think it would look fantastic with a fresh coat & new GT stripes!
Keep posting pics when you can.

Yes, we will be repainting it - not sure if you saw the note above.
 
Sweet Project! I'm in the middle of a similar project on my 79 242 GT just with a smaller budget! do you plan to post updates on the wiring portion of the LH 2.4 b230ft swap? that what I'm struggling with at the moment.
 
Sweet Project! I'm in the middle of a similar project on my 79 242 GT just with a smaller budget! do you plan to post updates on the wiring portion of the LH 2.4 b230ft swap? that what I'm struggling with at the moment.

Probably going to run a Dave Barton harness - really the cleanest and easiest way to do that.

A short update, obviously 2020 has thrown some curveballs in the restoration plans!

Parts acquisition continues, although at a slower pace. Grabbed a Zender spoiler, an R-Sport cluster, and some other goodies in the past few months.

I did a little bit more digging on my car's history and found the classified ad from September 1979 when it was listed for sale as a demo by the original purchasing dealer in Minneapolis (listed on the window sticker). The dealer in Michigan where the original owner bought it (in April 1980) must have done a dealer swap. The car was delivered to the new owner in Michigan on April 4, 1980, and then when he came back for the first service on April 8, the car had 1108 miles on it (according to the service documentation I have with the car). Perhaps it's circumstantial evidence, but given how rare these cars were even then, I'd like to think it's the same car.

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