Restored 1978 Volvo 242GT - Watercooled Intercooled B21FT Turbo IBS 242 GT 240

Price: US $9,999.99 Item location: Eugene, Oregon, United States
  • Condition: Used
  • Make: Volvo
  • Model: 240
  • SubModel: 242GT
  • Type: 2-door
  • Trim: GT
  • Year: 1978
  • Mileage: 45,337
  • Color: Gray
  • Engine size: B21FT
  • Number of cylinders: 4
  • Fuel: Gasoline
  • Transmission: 4 Speed with Overdrive
  • Drive type: RWD
  • Interior color: Black with red accents
  • Options: CD Player
  • Vehicle Title: Clear
  • Want to buy? Contact seller!

1978 Volvo 240 242GT

This sale is for a 1978 Volvo 242GT. It starts right up and runs good. The transmission is tight and shifts well. The overdrive unit engages as it should with the sliding button on the shifter. It drives really nice and is very comfortable. It has plenty of power to get around town and comfortably go down the highway. The sound of the turbo is really fun to listen to. I really like watching the turbo gauge go up. I really enjoy driving this car. It turns heads as well because it is not a very common car.
It has a 1984 Volvo 242GLT B21FT water-cooled intercooled turbo engine installed in it.It has the IBS system on it, so it provides 8-10 psi of boost depending on what RPM you are running. We also decided to swap the entire wiring harness and convert the newer wiring harness to fit the original 1978 instrument cluster. All the gauges work in the cluster. I have also converted the cluster to use a solid state voltage regulator for more accurate fuel and temperature gauge readings. We also converted the harness to work with the sliding over drive button.
This car handles well. We lowered it a bit to achieve a ride height that looked nice. I have installed a ZF steering rack on the car. It also has the newer style steering column with the splined shaft. I have adjusted the suspension for maximum negative camber, which is not much. We installed KYB shocks on the car and they give it a nice comfortable ride. We elected to use an IPD 1" (25mm) sway bar up front and a stock 23mm sway bar on the back. All the bushings appear to be in good shape. All the tie rods and ball joints appear to be in good condition as well.
I have stated that the sale of this vehicle is only available for local pickup only, however if you are an international or domestic buyer I have no issue with you arranging a company to pickup the vehicle. I am happy release to the vehicle to a reputable transporter once everything is figured out.
Please see links below for more images of the car.
Photos of the Restoration
Additional Photos of the Car
Here are some of the features of the car:
  • 1984 B21FT (Water-cooled-Intercooled Turbo Engine) with IBS System
  • ZF Steering rack with newer style splined shaft steering column
  • Original GT Splitter (Air Dam)
  • Orignal Volvo GT Strut Braces
  • Original GT Mudflaps
  • Original GT Spare Tire
  • New Clutch
  • New Clutch Cable
  • New Brake Pads
  • New Master Cylinder
  • New 4 inch Phoenix Gold Door Speakers
  • New Air Cleaner
  • New Center Interior Light
  • Power Steering
  • Excellent GT Passenger seat
  • Good quality rear GT seat
  • Custom painted 15 inch Virgo (Turbo) Wheels
  • Good Tires (195/60-R15)
  • IPD 25mm Sway bar Front
  • Volvo 23mm Sway bar Rear
  • KYB shocks
  • Vented Front Disc Brakes
  • Solid State Voltage Regulator installed inside Instrument Cluster
  • 2 inch GLT Drive line
  • Sony CD Player
  • Cleaned up surface rust on interior floorboards, primered, and repainted. i have pictures of the repair, please let me know if you would like to see them.Photos of the Restoration
  • No sunroof
There are a few things that could have some work done on them but they are very minor:
  • The oil pressure gauge in the three gauge dash pod pegs when the key is turned on. I suspect a bad sending unit.
  • It needs the plastic piece that goes over the mirror mount.
  • There is a bit of rust in the trunk below where the tail lights mount. I have taken care of most of it from the inside of the trunk but there are a few spots that have some bubbles forming. It is very minor though.
  • If you look at the photo of the driver's side trunk floor where the spare tire mounts, you can see where we have installed a patch panel. That area was a bit rusty so we replaced it. If you would like more photos of the repair, I am happy to provide them.
  • There are random small dings on the body of the car. Please click the link to the right for more pictures of the car.Additional Photos of the CarPlease contact me if you would like any other photos. I am happy to put the car on a lift and take photos of the underside.
  • The driver's seat needs to be reupholstered. I have a good driver's seat bottom that I can throw in with the car.
  • Odometer does not work. Luckily the speedometer works correctly. That may be why the mileage is so low on the car. I have another cluster that I can throw in with the car.
  • We never wired in the GT fog lights but they have bulbs in them. They just need to be wired.
Note: I have the original engine and wiring harness. If the buyer would like to have it, please let me know. Please let me know if you have any other questions or concerns by sending me a message.