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Bought a 1987 Formula 242 LS

Old 04-02-2022, 07:30 AM
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Default Bought a 1987 Formula 242 LS

Hello, everyone - Wife and I purchased our first boat ever. A 1987 Formula 242 LS with a 454. Lots of work to be done! The pics below are from Fall 2021 when it first arrived. THE GOOD: It is gorgeous and I love the way it looks. Transom and stringers appear to be OK. THE BAD: Lots and lots of scratches on the hull; over a thousand hours on the engine (which seems to run fine); interior and exterior were torn, dirty and waterlogged so we tore everything out and are getting them re-covered; not all gauges work; overall everything is just a bit beat up or worn with age. It is a 35 year old boat, after all!


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Old 04-02-2022, 07:36 AM
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If folks are wondering, we paid $7,500.00 for the boat and trailer and that included the seller driving 150 miles to deliver it to us. Included 12 life jackets, good fire extinguishers, flare gun, safety flag, two new replacement gauges in their boxes, anchor, three bumpers, and a Garmin Striker 4, etc. Trailer has a new spare and tire dates are all within a few years.


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Old 04-02-2022, 07:38 AM
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We will be boating on Cayuga Lake here in Central NY. Below is our backyard (pic from last summer) with the lake in the background. This year we have access to a covered boat lift about 20 minutes away. So, no excuse to not get on the lake after work and on weekends!


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Old 04-02-2022, 09:39 AM
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Looks awesome man! As long as it runs fine you shouldn't be to worried about the hour count. If you are concerned it might be useful to do a compression check. Assuming since it's an 87 it has an alpha drive? Have you pulled the drive and inspected it yet?

Overall a great deal for sure and she will clean up nice! Excited to see the interior and gauges when you start putting it back together! Glad to have another 242 owner on OSO!
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Old 04-02-2022, 10:13 AM
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One of my favorite things to do is buy a Diamond in the rough and then polish it to see what you have!
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Old 04-02-2022, 10:55 AM
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Thanks for the replies! A compression check and drive inspection are on the to-do list for sure. Interesting to note that the engine hatch/sunpad was not even physically attached to the boat at all. It was so waterlogged and heavy it stayed on because of the weight. We needed a forklift to get it off the boat.

QUESTION: Any recommendations for a motorized engine hatch lift system? We have the button on the dash but absolutely no equipment for it.
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Old 04-02-2022, 10:58 AM
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That’s a good looking boat. Great view. Great to be 20 mins from some good water.

hey.... does the exhaust come through the platform? Did not see the tips on it.
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Old 04-02-2022, 02:41 PM
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So I understand the exhaust is the "Silent Thunder." I believe it vents into the swim platform which also fills with water so it keeps it quiet. Every other post I read says I should immediately take it off and replace it with a regular exhaust and a standard metal swim platform. Supposed to rot the transom??? I will learn more this Spring.
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Old 04-02-2022, 05:08 PM
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Originally Posted by Stickboy View Post
So I understand the exhaust is the "Silent Thunder." I believe it vents into the swim platform which also fills with water so it keeps it quiet. Every other post I read says I should immediately take it off and replace it with a regular exhaust and a standard metal swim platform. Supposed to rot the transom??? I will learn more this Spring.
It's not a death sentence. Just something to keep in mind. The weight of the platform can pull on the bolts that are thru bolted and water can get in. If the transom is solid it's not a must do at this second if you have other priorities.

For the ram, you'll just need something along these lines:

https://www.summitracing.com/parts/e...UaAsoyEALw_wcB
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Old 04-02-2022, 07:02 PM
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Originally Posted by Stickboy View Post
So I understand the exhaust is the "Silent Thunder." I believe it vents into the swim platform which also fills with water so it keeps it quiet. Every other post I read says I should immediately take it off and replace it with a regular exhaust and a standard metal swim platform. Supposed to rot the transom??? I will learn more this Spring.
yes, what you say is correct. I have a vintage formula as well.

I was asking because it looked like someone had already removed that platform at one point as there were plates behind the upper rings that hold the platform on. Then I did not think I could see the chrome tips off the Back of the platform.

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