Barn finds are so tantalizing, aren’t they? They could make absolutely no sense, but being the one to bring a car back to life is sorely tempting for most of us. This 1984 Volvo 242 Turbo coupe is a desirable specimen, not only for being a rare high-performance variant but also because it’s supposedly a one-owner car. In the hobby car world, we tend to like low ownership numbers, and even better if it occurs on a period-correct performance model. This Volvo will need some love but it looks remarkably solid. Find it here on craigslist in Rochester, NY for $2,500.
A good friend of mine was very big into these turbo models for some time, and I usually watch his purchases a future barometer of sorts. He went down the rabbit hole of owning multiple cars, usually one or two in great shape and a project/parts car. Unfortunately, after losing one to a fire, he sold the whole stash – and hasn’t looked back. While not scientific, I believe these 242s tend to remain treasured by the Volvo faithful, but not the broader enthusiast car community. This turbocharged two-door looks to be in remarkably good shape, especially given it resides in one of the snowiest and saltiest parts of the northeast.
In recent years, the best car I’ve seen went for the low 20s; most of the 242s that come up for grabs tend to hover in the $8,000-$10,000 range. The interiors are classic Swedish goodness, which is to say they are all business and highly functional. This car looks good from afar, but it may be far from good: the seller is generally very positive about this barn find, but does note that the interior needs “…professional attention.” I can only wager that this means it has rodent damage and mouse urine deep in the vents. The thick covering of dust suggests many years of stationary storage.
It looks surprisingly good with the dust blown off, and photos of the underbody components show surface rust but nothing terminal. The seller expects to have it running before too long, which means he has high hopes for waking up the turbocharged 2.1-liter inline-four. When new, this engine made 127 horsepower and 150 lb-ft of torque, and finding one with a manual gearbox like this car makes it even more desirable (many were equipped with the automatic.) The Virgo wheels are a must-have on any vintage Volvo, and we hope its overall completeness makes it worth saving despite whatever issues the interior may be hiding. Thanks to Barn Finds reader Barney for the tip.
Like other turbo mills of the period, it probably spun the bearing – again – and got parked, subjecting it to far worse damage from natural elements.
Knew of a handful of other 242s and 740’s which had such problems.
I would not put tires on it but try to get it running FIRST!!
Drop in an Eco-Boost drivetrain and go!
ALREADY SOLD! WENT TO CRAIGSLIST AND SAYS NOT AVAILABLE.
The Craigslist price was a good bargain for this car if the rust was not a big issue. These are incredibly strong cars. (The 740 cars may be stronger. But not by much.) A 740 turbo engine dropped into this car. In addition to a walk through the IPD catalog for suspension goodies. Make this a great, fun driving car. And provide the ultimate in safety. The ex-wife’s car was rear ended by a new S10 Chev. We had to readjust the rear bumper and the S10 was a total. It didn’t even make a mark on the bumper. A customer bought a new 240 wagon when their daughter was born because of safety concerns. The car was passed down to her when she went to college. While at college she slid off the road and rolled the car several times down an embankment. Little did they know that purchasing that car would protect her 20 years later. I had a 265 wagon that I bought used because the then wife wanted one because of our soon to be born daughter.And she was driven home from the hospital in that car. I knew the v6 was tired and was prepared to rebuild it. But the price of the timing chain kit was more than a complete 5.0 Ford engine. (I was working at a Ford store at the time) So my wagon was treated to a 5.0 and AOD transmission. It was basically a bolt in swap. With engine and transmission mounting holes already lined up. (No additional holes required (other than 2 holes in the transmission crossmember because the Volvo unit only had one hole) to bolt it in. Even the transmission cross member to chassis holes lined up! I even used the stock Volvo shifter. It all looked factory and many people that saw it also said the same thing. I ended up installing the rear diff. From a turbo car. As the original rear diff. Could not stand the strain of the V8. (My driving style probably didn’t help either.)
If I was in the market for an additional car. I would buy this in a heartbeat. ( providing that the rust inspection was possitive) and if a 740 tube engine was not available I would again do the 5.0 Ford swap. When I did the v8 swap the first time. I was concerned about the additional weight. But as it turned out the front end sat too high once the V8 was installed. The V6 Volvo application has the engine sitting so far forward that you can actually see 2/3 of the transmission from the engine bay.) IPD lowering springs did the trick to bring the front end back down.
In 2003, I had a gray 1984 240 four door that was gifted to me provided I could get it running. It had been sitting in the elements in GA for five or so years. I put a battery in it and beyond that was a relatively short list. It needed a new main fuel pump. Now, at the time, all I knew was it need a fuel pump. I got one and a fuel filter installed and the car, which had a full tank of gas, started up. It idled roughly so I put four new plugs and wires on. Solid state distributor, so no points. Amazingly, it was still timed properly. I drove it 250 miles, then was puzzled when the car started acting up in the boonies in Florida. The gauge showed 1/4 tank of gas, but it was acting fuel starved. I got a lift to a gas station where I filled a 5 gallon container and got that in the tank. The car ran fine after that but I filled it up the rest of the way and drove on, warily watching the gas gauge. I later researched the car and learned of an in-tank fuel pump. It had failed, but had allowed gravity flow until it got to a quarter tank. Changing that was loads of fun, let me tell you. I drove it for two years with no problems (except for changing the water pump, and that was an adventure) and sold it for $2500 to an Indian lad whose folks ran a motel in St. Pete.
Jeff, this is a two-door sedan, not a coupe. Volvo’s coupe was the (butt ugly) 262.
Being in my late teens that year i remember many a many articles from the big three automotive magazines of the era that praised these cars.as solid and dependable. If this one gets restored it would make a very nice cruiser. I remember a.neighbour of mine that had a late 80’s 740 wagon ( the four eye model ) dark blue and aftermarket BBS alloys and interestingly a slick top. Looked like a.million bucks
Just re-listed at $1500
https://rochester.craigslist.org/cto/d/webster-absolute-classic-rare-1984/7871562690.html
No mention so far that this particular model was raced very successfully in Europe (“The Flying Brick”).
Should anyone want to go that route, the engines are super strong and can be tuned to give big horsepower.
Interesting car, bargain price, no wonder it sold quickly!