Volvo Forums - Volvo Enthusiasts Forum - Intro: Returning to the Volvo family, hello all!

Hello!

My name is Mitch, I'm from the NorthWest and last week I bought a 1980 Volvo 242 GT Coupe and I couldn't be more excited! (Previously I was a 850 R owner)

I absolutely love this car. It's incredibly rough on every edge and needs a ton of work, but it has character and history I've missed since parting with my last classic (64' Impala Wagon). There are obviously issues that I'll mention, but hopefully I have enough knowledge of cars to solve the easier issues by myself or with my car buddies.

Stats:

1980 Volvo 242 GT
290,XXX Mileage (Odometer Failed)
Running w/no power steering

Current issues/actions taken:

Changed plugs
Inspected wires (good to go)
Seafoamed oil/gas tank/vacuum lines
changed oil
pressure washed out the engine bay (used acid, degreaser and heated pressure washer at dealer detail shop)
full interior detail and exterior scrubbing.
*doing trans flush tonight I hope

Issues,
Two exhaust head studs are broken and one nut is missing (massive leak at the manifold)
Slight misfire probably being caused by the exhaust leak messing with the O2 censor.
Harsh idle (lots of vibration)
**Transmission seems to be having a real hard time transferring power to the wheels. This is the biggest mystery to me, I'm not sure if the motor is just that weak or if my transmission is broken somehow. Reverse doesn't engage and it feels like I'm going nowhere even with the pedal pinned in 1st.
Electronic overdrive button is gone (probably broken anyway)
Gauge cluster minus the Tachometer doesn't work.
Rear passenger tail light needs to be repaired (bulb connector looks blown out)
Seat belts don't wind up.

WITH ALL THAT SAID I paid 500 bucks for the car and I couldn't be happier!

I will scour the forum for my answer so please resist the urge to flame, I'm gonna use this as my reference list.

GOALS:

First and foremost I want to swap a Toyota 2JZ-GTE in to this car. I had my heart set on a naturally aspirated 2J but after much torment from my friends and driving my boosted WRX around I have caved and am shopping for a 2JZ to swap next winter.

Coilover suspension/modified steering knuckles for maximum steering angle (I'm on a mission to drift and be the only one kicking everyones ass in a Volvo!)

Roll Cage

Maybe Fuel Cell and Rear mounted Radiator if I wanna get really wonky.

Anyway, I couldn't be happier to be back, I loved my 850 it was probably the car that treated me the best and I had tons of great memories with her. I feel like this classy old bird I just picked up is going to do the same for me!

Thank you all and have a great day!:)