Supersport59

I'm excited about the prospects of buying my first Formula. I found a 1987 Formula 242 LS w/approx 500 hours for $9250. It seems like a great deal, I'm going to take a closer at the boat this week.

The good News...
-single owner
-freshwater only
-stored in a boathouse
-interior and exterior are in phenomenal condition
-silent thunder exhaust
-no bottom paint

the not so good news....
-no bolsters
-no trailer
-alpha outdrive

What should I look for when I look at the boat? I've heard of issues with rotted out transoms on these boats, and water in the cabin. Is there anything else I should look for?

What sort of top speed can I expect from this boat?

Where would you recommend looking for a used trailer?

Can a 95 GMC Yukon tow this long distances? I'm interested in towing it from New England to Florida and back once a year.

Thanks for all your help!

Formula Outlaw

"SS-59" Welcome to our world. You'll never leave.
My first Formula was an 85' 242 LS with twin 350's.
What are you running for power?
The "alpha" outdrive will be fine as long as you don't try to put big power through it and don't constantly "nail it" out of the hole. That's when an outdrive endures it's "toughest time". You can come out of the water with authority, you just don't want to "hammer down" on it.
Price wise I think it's a hell of a deal.
Bolsters did not come with that model until later years. Mine did not have bolsters. You can always look for a set and swap out, but I wouldn't let that single issue disuade you from purchasing the boat.
Many places to look for trailers, and you have your new "OSO" family to help you out.
Your Yukon should tow this without a problem. I towed my 242 back and forth to Florida from Maine three times with a 350/1500 Series "Burb". You shouldn't have any trouble.
You can always have a survey done, but it sounds sweet. Russ

cuda

I had a 242 like Russ's, twin 350's with alpha's and no bolsters. The lack of bolsters was my main complaint about it, other than that, I still miss that boat.

Supersport59

Thanks for your help. I just put a deposit down to hold the boat until I get a chance to look at it.

Btw, the engine is a 454 Mag.

BAD-HABIT

Something isn't right here. I don't think they ever put 454mags in front of alpha's. Now they did put some with the plain jane 454's though......Something has been switched out or the owner is misleading you.....Correct me if I am wrong (Im sure the board will let me know )

BH

masi242

SS59 This sounds like a good deal but you should go thru it carefully.I do have a 242 also same year it did come with a 454 mag 365hp w/alpha. I also have an alpha, be gentle out of the hole an you will be all set. The top speed you will see out of this boat will be about 61mph. I run a 4 blade bravo labed 22 pitch prop it runs very nice. You will love this boat it is very solid boat, a bit heavy and no speed demon but a good solid performer.

mark

Formula Outlaw

I have heard before of 454 "mags" being mated with the Alpha drives. Whether this was done by the factory or not I have no idea. I believe the original 454 mags were rated at 365 hp. I think there was a heavier duty Alpha maybe called the Alpha RR or SS or something. Memory is too far gone to be sure. I'd say I've heard of maybe six maybe seven instances where a "454 Mag" was mated to an Alpha. Tlhe big problem was if you nailed it out of the hole they would blow. I think they only mated the 454 to an Alpha for maybe two years at the most but I'm guessing here. Maybe going back to the "complete 242" thread in Formula forum might yield some clues.

Supersport59

I'll double check to make sure it's a 454 mag on Tuesday when I go to take a look at it.

The alpha drive situation has me a bit concerned; I'm planning to take the boat down to St. Pete, Florida with me for the winter where I'm sure it will be driven very hard- I'm the type who goes out and tries to get airborne. The last thing I want it to be out in the Gulf of Mexico and for my drive to fail in rough seas where I'd surely be swaped if I lost power.

What's involved in swapping out the alpha outdrive for a beefier bravo 1. Would I need to replace the transom assembly, gimbal,and other parts in addition to purchasing the outdrive? How much would this conversion cost?

Formula Outlaw

Like both "Masi" and I said, the only real concern with the Alpha is not hammering it coming out of the hole. Treat is respectfully. As far as launching the boat off a wave, I sure did my share and never had a problem, though I did have two with a tie bar. Personally, I wouldn't consider it a problem, unless it became a problem. I think you'll be okay. When you get down here get hold of me. Russ

Audiofn

Get a survey done if you are not familiar with the boat. It is well worth the piece of mind and your insurance company may require it anyhow.

Jon