Volvo 240 for a miata...

So I bought my first car, a 1993 Mazda Miata with a rebuilt title for $1100 a few months ago. My plan was to have one of my dream cars alongside compete in the $2000 challenge this year. Well, I only am managing one of those. Problem is, I rushed and bought a real E36 M3box miata. Obviously. I've been throwing up the idea of finding a Volvo 240 to trade for it... I really like the styling and thought of a 240, plus it gives me more space to move off to college where I can save for a much nicer miata. So a few questions/concerns. 1. Would it be a good trade? Or am I crazy for thinking about it. 2. Are the parts there, cheap, and what can I do to make it more fun? 3. Is there anyone out there on GRM with a running, driving, preferrably nonrusty 240 (preferrably stick) that wants a cheap miata they can chop up for a project, or just give to a child for their first car, in or near Jacksonville NC?

Long time 240 driver here. They are a great car, but they are old. Parts are very available, but much of the replacement rubber stuff is very inferior. Also avoid the '91 and later if you need good a/c function. Some other issues creep in with the later ones as well because it was a "lame duck". There are some changes in fuel injection bits that are hard to source because of the short production time after '91. Always carry a spare fuel pump relay and an ignition module, and if a crank fired car keep an eye on the crank sensor wire that goes between the back of the cylinder head and the fire wall. Those are the only common things that stop you by the side of the road on a well maintained car. Fuel pumps (there are 2) should be replaced every 150k miles, timing belt at 50k with the water pump. If you are shopping, look closely at the top few rows of the radiator as they fail there on a brass one. If a plastic tank radiator it is due for #3 by now if it hasn't just gotten one. If you buy one with no maintainance records do the timing belt, belt idler (100k interval) and water pump before you drive it. Also fuel pumps if you can afford them. Odometers fail frequently but are an easy fix. Trouble there is you can't trust the numbers without records. They are surprisingly fun to drive in the slow car/fast manner, and nearly invisible to the speed police. Wagons handle a little better and are very large inside. Do not buy a car with a brand new oil pressure switch unless you can verify the pressure is good. Only 2 things cause internal engine damage. They are an oil filter pushed up by a failing right engine mount, and a leaking oil pressure switch. When the switch leaks it also fails to light the lamp. Right engine mount is yearly failure unless you can get OEM, and they are not as good as they used to be. Good cars are now hard to find because they have been cheap for a long time, and everyone beat them vigorously for a quarter of a century, myself included.

I would look around the Washington DC area.  Foreign cars are the great majority here. There have always been tons of 240s for sale in the 20 yrs I've been here.  Right now I'm not sure but I still feel it's got to be happy hunting ground even though a specialist close to downtown recently closed and became a yuppie/right on/self-congratulation 'milk' bar.  

In reply to TurnerX19 :

Thank you for all the good info! Incredible response!

In reply to nutherjrfan :

Ill check around there. Its a drive, but Id make the trade.

yeah not as many as used to be unfortunately but they are a regular-ish sight still today even.

$1,500

$5k

$1,750

$950 May not be willing to trade due to relocation.

$3k

In reply to Catlas_Se7en :

Here’s one that says it’s a 5-speed in the description for $1200. 

I owned a 77 242dl 2dr with a 5spd (4spd + OD) and it is still the best car from the 70s i've personally ever driven. I consider the 240s to be one of the great car designs of all time. However, they are not AS easy to keep in proper condition as a lot of other old cars. The only reason i got rid of mine was because I felt that it needed an engine swap go from a good car to an actually interesting car, and i didn't feel like investing that level of effort in the car, so i traded it for 3 worse cars that were more interesting right off the bat. 

Re reading this post and seeing other responses reminds me of several other considerations. Do not buy a car with a "factory" roof rack. Even a southern one will have floor rust because the dealer who installed it drilled holes in the roof. The attaching wellnuts were old enough 10 years ago that some have slipped inside allowing water in from above.  Seeing the photo of Vigo's very early one also reminds me that you want a car with a B23 or B230 engine. The earlier B21 and B20 were hampered by "Kjet" CIS fuel injection that is not comfortable with our current fuel and has very expensive components to fail.

I loved my 1989 Volvo 240, had the actual 5 spd(m47 I believe) and while it wasn’t fast at all and with stock suspension wasn’t exactly a handler but it was a cool fun car. Modern-ish fuel injection, 4 wheel disc brakes, solid roomy interior, and probably the safest car of that era. 

Dana 30 in the rear makes for silly R&P and limited slip options are available

16V head swap and OE turbo bits bolt on

Quaiffe makes a nice steering rack quickener for them

They have all the suspension travel.

captdownshift said:

Dana 30 in the rear makes for silly R&P and limited slip options are available

16V head swap and OE turbo bits bolt on

I''m told that only the early 240s have a Dana 30, after 1981 or something (I'm not a Volvo perv, I dunno the exact date) they switched to a slightly different model.

I have also been told by Volvo pervs that the 16v head is a dead end, there's not really much you can do with it that you can't do more cheaply with the 8v head.  Lots of cams and stuff available for the 8v, and of course all turbos were 8v.