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Water in oil?

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Thephantomkaw View Drop Down
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    Posted: April-06-2007 at 12:29am
Here is my question... I have the option to buy a 1970 Correct Craft Torino that is in pretty good shape, from my boss. First of all.. From what I have read... Most of you wouldn't want an I/O. Well this one has an I/O. He wants $500 for it, and includes trailor.

The Good....
It has a new 318 block, and heads, no damage to the hull, and the interior is in restoreable shape(meaning just recovering is needed)

The Bad....
The reason it has a new motor is b/c it got water in the oil. He replaced the block, and got new heads for it. Then he put all of the old marine parts back on it (waterpump, intake, manifolds, exc..) He said that after he took it out for the first time with the new motor... it had water in the oil again. So he drained the oil, replaced it with fresh, and then winterized it. Well It has been winterized for 3 years not.


So, What would be a wise decision? Should I buy it? If so, would it be worth fixing up? Also, anyone know what the water in oil problem could be? Any help would be greatly appreciated!
~Michael~
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79nautique View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 79nautique Quote  Post ReplyReply Direct Link To This Post Posted: April-06-2007 at 9:42am
sounds like it has bad exhaust manifolds
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Thephantomkaw View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Thephantomkaw Quote  Post ReplyReply Direct Link To This Post Posted: April-06-2007 at 5:05pm
Alright.. I will have to check on that. Are the manifolds expensive? Thanks!
~Michael~
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Waterdog View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Waterdog Quote  Post ReplyReply Direct Link To This Post Posted: April-09-2007 at 1:18pm
The most common way to get water in the oil is cracked exhaust manifolds(That's what Mid -West Correct Craft said) I replaced mine from eBasicPower Marine (351W Osco manifolds $419-)
Manifolds,risers and gaskets are in a "kit"if PCM offered a kit I would have bought them to stay OEM.
- waterdog -

78 Ski Tique

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Tim D View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tim D Quote  Post ReplyReply Direct Link To This Post Posted: April-09-2007 at 6:53pm
A good sign of water entering by the exhaust is slow cranking or hard to start after shutting off. Trying to compress water.
Tim D
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Rick View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Rick Quote  Post ReplyReply Direct Link To This Post Posted: April-10-2007 at 1:06am
The 318 manifolds are hard to find around 300 bucks each.That said it sounds like a good deal even if you have to rebuild the engine and get new manifolds you are looking at around 3K
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