72 Engine "knocks" Options

[mikeatrpi]

I found a 72 914 1.7L that the owner is casually selling (he's not listing it in papers; it's parked in the back of a parking lot with a sign in the window). The owner describes the engine as "needing work" and making a "knocking sound." I haven't heard it run myself, but apparently it starts. What could this be, and how much to fix it?

The paint is silver but not shinny, body is straight with a little rust by the driver's rear bumper, and the top leaks. I haven't gone through Pelican's checklist for rust yet. Based on what I've told you, does $2k US sound fair? I'm looking for my first real project car.

Thank you for any advice you can provide!

-Mike

[mikeatrpi]

An update- I got a chance to drive the 914 today... my first ever experience in a Porsche. (IMG:style_emoticons/default/wub.gif) The car started with a jump from a booster box and idled just over 2000 RPM. To me, the "knock" sounded more like a lifter tick (I drive a Mazda 626, which are plauged by a design flaw that causes lifters to tick). Anyway, the exhaust had white vapor in it- fuel (?). It wasn't blue like oil. Also you couldn't feel oil on your hand afterwards.

I stalled it my first run, and the second time we started the car it wouldn't stay running without giving it gas intermittently. I took a lap around the parking lot. Brakes were firm. I took my entire trip in third... (IMG:style_emoticons/default/rolleyes.gif) even started from third gear... I'm an idiot. While I was driving it the cabin filled up with exhaust smoke.

The owner is a busy fellow who owns a business complex where this 914 is parked. The maintenance man at the complex is the one selling the car for the actual owner. I tried to haggle the price a little bit, and the gentleman stated he wouldn't take less than $1,500 for the vehicle. I politely declied and decided to talk it over with you folks. I will try to track down the real owner himself and cut the maintenance middleman.

There is more rust on the body than I first thought- lots of little bubbles under the paint. Around the doors, on the fenders, wheel wells, etc. The hood does not line up with one of the fenders, and one headlight is not flush with the hood. There is rust behind the battery box and some beneath it. There is rust in the bottom of the engine bay right up against the back of the cabin. There is almost no rust inside the trunk (either of them), and absolutely no rust on the floor boards. I couldn't get behind the seats but I tried the "crunch test" and didn't find any rust.

In light of this information, is there anything I have mentioned that can provide clues if the rod or bearing is shot, or if it just needs some valve adjustment? Would any of you feel that $1500 is reasonable / fair knowing what I just discovered? I also happened to find a pair of '82 Datsun 280Z's; between the two of them you could make a great car and a good car. For $1200, it's looking appealing. Say something to dissuade me from the Datsuns!