You are correct but for a first boat in that price range on an inland lake it's not a bad boat.

I have a 242LS and it`s not the quickest out of the hole but I`m not racing it. With the 454 the best you will see is 55 gps just make sure you have the trim tabs they will help, for the most part they were standard. The one in NY was a good price I just don`t like what they did to the swim platform.

Well I didn't get a chance to go check it out today, ended up getting called into work. I'm kind of leaning towards a bbc since that is where I would ultimately like to go anyway. I'm still going to check it out and see what I think. But yeah, the lakes of Texas aren't too bad.

I could not get on plane too easy with more then just me in the boat, inland lake or not that sucked... frustrating, I fixed that some with aluminum heads and cam change, but still needed more torque, mine was 24 245Limited Chris Craft, the Formula is a better built heavier boat, has to be same if not harder to plane with a small block

The only 242 I had was an SS model that had the large cockpit. With a single 260 Alpha 1.5 with a 19" stainless it jumped up pretty quick with 4 aboard and a full 135 gallon tank. It ran about 45~47 flat out with 2 aboard and a light fuel load and I never had it loaded where it wouldn't break 40 and I had 8 people on it.. I sea trialed a '89 242 SS with a Carbureted 502 with a Bravo I running a 25" Bravo prop and thru prop exhaust that showed me 68 GPS in 2~3' seas out side Hillsboro Inlet in Pompano Beach. It felt very good and stable at that speed with no chine walk. I almost bought that boat for $9000 but wanted twins for security in running back and forth to the Bahamas.

The 242's seem to be well balanced and not a$$ heavy at all. To me the hot set up in a 242 that wouldn't break the bank would be a strong Big Block with a Bravo I. I think a 60 MPH cruise would be easy in a BBC 242 Formula.

I think you should make every effort to find a bravo drive equipped big block boat. That means 1988 or newer. There has to be one somewhere that someone wants to unload cheap. People are going to own these boats outright, so if you have all your cash in hand you might find yourself a motivated private seller. Also, be wary of boats that may have been hurricane victims. Paying a surveyor a couple hundred bucks could save you thousands.
I would strive to find a bravo boat over an alpha, though.

http://www.boattrader.com/listing/19...-242-LS-346454

This one needs some repairs, but it's 4k under budget. Have a surveyor confirm it's not damaged structurally and do a sea trial to confirm it runs straight.
Took me 2 seconds to find this one.
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Thanks for the advice. I've found a couple of boats so far. There is a 1989 Scarab Excel with a bad lower and '96 VIP vindicator with a rebuilt motor. From what I understand, the VIP are tough to get rid of, but if I was able to get it down low enough it might be a good boat to learn on. The Scarab would be good boat for awhile, and seems to have a pretty good following, but it would take some work to get it ready for this summer.

http://www.boattrader.com/listing/19...2-LS-101688933

Brokerage boat asking 11900. Offer 10k and see what happens. Big block & bravo!

way high on that one, whats your budget, I also would shop for a 88-91 242, there will always be a market, theve pretty much bottomed ouyt leaving little room for loss on your end when time to go, a nice 242 should be in the 10-15 range (88-91) you can also find nice square windshield 242's for 5-9k, the grey area in between leaves you room for do it yourself work,
where are u located?