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I have an 87 245, which I bought in 1997 at 103K from the OrigOwner, with the unfortunate plus of his daughter having it thru college.
My problems were with the M47 Trans. It failed. The Orig Owner told me he had a bearing replaced. It failed on me, the fluid was full of metal shards...drove it thru to 125k when it started to hum.
Some 87's had the M47, some had the M47II, which fixed the bearing, and the low placement of the filler port. It's hard to tell which one you've got from just looking at the case.
Also the wiring harness may or may not be the one that degrades. The best way to tell is to look at the wires at the Grey connector at the firewall, tracing the wires toward the intake manifold...you may have to cut the plastic cover to get a good view. The other place is under the Crank...if there is major oil contamination here...degradable harness or not...oil leaks from the crank seal will do a job on the insulation.
Rust...the lower body is hot dipped, as were all from 86 on.
Mine is still running with 200K, with a Tranny Transplant at 125K.
The Hall Sensor has not been a problem. And if it needs to be replaced, you will hear OH you need a entire new Distrib. Not so. It is a simple replacemnet, However, the module needs to be slid off the Distrib Shaft at the BOTTOM...this means pulling the Distrib and removing the drive gear...just drive out the pin....slide off the old Hall Sensor and slide on the new...replace drive gear and pin.
The Great thing out the 86-88's is that you can adjust the Timing by rotating the Distributor....after 89 with the use of the CPS this is no longer possible
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