I'm going to look at a 79 242GT this weekend and am interested in anything I should be looking for; any common issues, red flags, or otherwise general advice.

From what I know it's got about 175K miles on it, was used as a daily driver for about 15 years by the original owner (who still has it) then used off and on until about 4 years about and has been sitting under cover. There is a baseball sized dent on the passenger side quarter panel, with a little rust. The interior is in fair shape. The owner has told me the suspension needs a lot of work, but the car starts up and runs fine.

This would be a project for me and my very first venture into that so any advice would be much appreciated! Thanks guys!

 

those are K-jetronic injection, for which expertise is fading away, Volvo stopped using K-jet 30+ years ago. Mercedes hung onto it until circa 1992.

The biggest fear of a car thats been sitting a long time is rust in the gas tank and fuel system.

 

Doesn't appear to have rust anywhere but the one spot. Hopefully will have it within the next week or two!