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It won't be easy, especially for not much $$$. Your intake will definitely not support that kind of HP, so you'll probably be looking at intake, heads, and cam with a full exhaust including long-tube headers. Not sure if that will hit 350hp or not. Mainly just bumping ... someone intelligent will chime in soon
what do you define as "cheap?" $200 won't get you there if that is what you mean unless you go NOS....well north of that otherwise...the TPI set up is a torque happy intake; does not flow enough at higher RPM's for high hp numbers...
What you could do is track down a 350hp car somewhere. Then wait nearby in your 250hp one. When the owner is about to get in his 350hp machine, run him down. Then grab the keys off his corpse and you are set.
Otherwise, GM didn't leave 100hp on the table that can be cheaply added. You might want to define a budget, and then see what is the best way to spend that.
100HP won't happen for short money unless you consider a couple of grand short money. If you do your own wrenching that would give you exhaust, cam, and heads if you shop wisely.
The problem with NOS is that you put it in and never use it because you are not racing. How often do we really run at wide open throttle for more than a few seconds on the street.
My $.02
Save your $$$ for a cool sounding set of mufflers and drive it. Later on if it is an auto go up to mid 3s in the rear. That should givr some nice SOTP gain. I don't think a converter on a stock motor is a big deal but there are those here that swear by it.
Have a 1991 with 250 hp. Looking to go to 350 hp . Any Ideas/ Need most economical suggestionns. Wife not happy with additional exp.
The cheapest way to get to 350hp is sell your 91, and buy a 96 LT4, (330hp, but probably a bit more). Next option, sell your car, and buy a C5, (340hp).
It sucks, but those are the best options. I have an 87 and I'm in your shoes. The mileage on your car would determine what you can do to it. If it's higher miles, say, above 80k, I'd look at refreshing the bottom end before adding performance goodies. I'm no expert, but as far as I can tell, good starting points for an L98 are:
Headers
Catback
Intake
Cam
Heads
Shift kit, high stall converter (for an auto).
I'm not sure how much all that would cost, but it's in the thousands.