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Looking for info on Formula 242 LS

Old 05-28-2024, 07:07 PM
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Default Looking for info on Formula 242 LS

Hi all, looking at a couple 242 ls's and I know nothing about these boats..

One is an '87, the other a '90..300 (rebuilt) and 700 hours respectively. Both appear to be in really nice condition and are priced at 22k and 25k respectively which seems high to me for an older boat, but I'm not sure how well these have held their value over the years or if they're considered a modern classic and may be appreciating a bit if in nice condition, etc.

Would appreciate any insight from folks that know these boats.. Common problems, current values, etc.

Thanks!
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Old 05-28-2024, 07:27 PM
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well...
as for any boat, any year, unless it is new....
survey survey survey !

of course quick mecanical inspection. but make sure you don't buy yourself a lot of work instead of a boat!

good luck in your chase !
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Old 05-29-2024, 08:13 AM
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The 242 is a great boat, but those prices do seem a little high i would think mid teens would be reasonable. Unless it was mint any of these have bolsters or just the captain chairs, what engine small block or bbc and what kind of trailer? Also what drive i assume the 87 would be the alpha, and the 90 is a Bravo.
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Old 05-29-2024, 01:17 PM
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Originally Posted by masi242
The 242 is a great boat, but those prices do seem a little high i would think mid teens would be reasonable. Unless it was mint any of these have bolsters or just the captain chairs, what engine small block or bbc and what kind of trailer? Also what drive i assume the 87 would be the alpha, and the 90 is a Bravo.
Thanks for the reply. I would say both appear to be in above average condition and not in need of anything major cosmetically.

Both have pedestal captains chairs and the 454 Magnum and yes, the 90 is a bravo. The 90 also has a newer loadrite trailer and the 87 has an aluminum tandem with new brake lines and tires.

​​​​That said, I figured either of them would fetch between 13-17k.. But if they are as good as the ads made them look I wouldn't mind paying a bit of a premium, but not a 5-10k premium but do understand that some boats (or any rec vehicle for that matter) do command a higher sales price if they're a sought after, modern classic - just unaware if these boats are that.
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Old 06-10-2024, 04:44 PM
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The 1987 unless it was repowered would have a Alpha One for a drive and the stock engine would be a low-perf 454 "Magnum" with cast internals - not something to really be beat on. Unless the '87 has been repowered with a Bravo I wouldn't even consider it - the boat is too heavy and even the low-perf 454 has enough torque to break it pretty easily. The 1990 with the Bravo would be the one to have.

At this age most of these boats will suffer from some kind rot in the transom as well as the bulkheads around the engine so make sure you're looking closely.

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Old 06-10-2024, 04:45 PM
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Also, those prices are ridiculous.
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