1999 292 Restoration project

[cmattj]

Welcome from your Niebor in the Delta.

Yes you’ve got yourself a project. But if you truly want to resource this and spend repowering her, keep in mind the rest of the Cobalt May need another 10k just in saltwater exposure. ( Florida boat .. see pic ).
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First the 5.7 and 5.0 ( 350ci to 305ci ) have two different internal make ups and efficiency needs so the fuel trims will be poor going to a 5.0. ( ecm TBI etc). So stay 5.7.

Reman marine engines and labor with drives eh? Considering you may not have a value “ core “ you may spend more.
If all your electronics and metal engine tin aren’t rusted through you can get long blocks.
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Bravos replacement are 7k each but possibly you can go through both for 8k ( cones and gears)
So let’s do some math.
Engines with shipping no core . 9k
Outdrive replacement used or rebuilt 8k
Manifolds and systems 6k
Installation labor and misc items 6k.
29k seems to be a budget you’ll need.

Reach out to Boatmasters in Livermore along with Salvage marine in Stockton as possibly the have a better idea for you.

Then if you’re budget exceeds the value let’s go Fresh water Cobalt shopping.

[Lockey14s]

I hope you got this 292 for next to nothing, or almost free. Your best bet is to look for a donor boat. one that has good engines and drives, but the rest of it is rotted or destroyed. trying to piece meal this boat back to perfect condition will cost more than finding another one you could buy (25-35k in good shape)

[Holy Smokes]

There's a diamond underneath all that rust and oxidation! Bring her back and she'll treat you right.

When pulling the engines, ditch all those DIY storage compartments in front of the engines. That space is better suited for maintenance access. I spent many hours crouched down in that nook in my old 293. HA!

Best of luck and keep us posted on the progress!

[Big Block Power]

Oh this baby is worth the 75k to fix her up. That's a I don't want to touch it price
So let's put these twins in.

[Big Block Power]

Your asking what value it will have. We'll that would only be up to the person on how they are really willing to pay. Me I'm still at blue book. Sorry.
Ok on value again it will only go down with a carb engine. Don't do that. If you're going to do it do it right or not at all . The used complete 350 mags are out there. My buddy just found a pair for his houseboat on lake Powell. I think we found them on ebay. They pop up. But you better be ready to pay and grab them. I think I even found some with the ecu and wiring.

https://www.michiganmotorz.com/complete ... DsQAvD_BwE

http://www.marinepartsexpress.com/mercenginepkgs.html

[cmattj]

Thanks all for the replies.

Cmattj: can you please explain a bit more on what would go into the extra 10k needed for saltwater boat?

As you’ve seen the rust on the engine components there are other items lurking.
Ahh the smell of salt air... here we go.

Interior materials deteriorate rapidly if not cleaned and moisturized weekly . It inbeds in dry vynle and stitching so I’m guessing that a 7k interior make over is in order.

Why don’t my .... work.??

Corrosion apears to be evident to a high degree in the pics you have.
Early Cobalt and most manufacturers did the best they could at the time with concealing wiring ends .
Your ( our ) era was good at routing but exposed wiring acts as a wic overtime and draws corrosion down the wiring.

Green wiring is the term but it becomes high resistance for proper senders and items that work electronically as opposed to mechanical.

So there’s my 10k estimate.

I asked if you were planning on continuing salt water use,? because with predictive thinking I would search usable replacement engines.
Yes TBI is your goal as your system for both engines is set up for it. Cables.
30k invested..
Enjoy for 5years.
Sell for 20k.
Not bad thinking of 2k per year of entertainment depreciation?
Sheesh some people spend that monthly on Boat entertainment.
Here’s the contact here in Stockton . Let’s cross our fingers there not scary like Boatmasters .

[Big Block Power]

It will prob need couplers and gimble housings.