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Just purchased a 92 corvette from a guy that says “it won’t run” (he wasn’t mechanically inclined at all). He said his dad let it run out of gas and it wouldn’t run after that and then sat for 3 years. I smelt the oil in the dipstick and it smelt like gasoline. Any help on what to tackle first would be a huge help. Pretty mechanically inclined but wanted some suggestions.
Is the motor locked up? As the saying goes "if it spins it wins".
Assuming that it turns over put in fresh oil and do a compression check. Then check and see if it has fuel pressure. Then see if it has spark at each cylinder. The spark test light at Harbor Freight is kind of amazing by the way.
change the oil,
pull the plugs
spray wd40 in the cyls
turn over the eng by hand
reinstall plugs
add fresh gas to the tanks,only 1/2 full [incase you need to pull them if the fuel pump is bad]
fully charge the battery or get a new battery
full up the tires
turn on ignition for 5 sec with-out starting eng,do this 4-5 times
I can't argue with dmaxx3500 - but IMHO - pulling the plugs an an LT1 is not an enjoyable job. I would dump the old oil - put in new oil, add a few gallon of gas, either get a new battery or jump off a known good battery and turn the Ignition to "ON" - listen carefully - do you hear the fuel pump run for a couple of seconds ??? If not - remove the key - wait a few seconds and try again. (if you have help around - it may be easier to get someone else to turn the ignition to "on" while you listen at the fuel tank inlet. If the fuel pump is running - repeat the "process a few more times (to build up some fuel pressure), and then try to crank her over... If not - you may need to replace the fuel pump - but there is some other troubleshooting you can try first....
Gas in the oil on these cars usually indicates the fuel pressure regulator went bad. I haven't messed with one on a LT1, but the older l98s if the fpr goes bad engine vacuum pulls gas into the oil through the fpr diaphragm.
I would put a fuel pressure gauge on it before changing anything and see if you have pressure and go from there. Turning the ignition to the on position without starting it should show pressure, around 40 lbs. If it doesn't get any pressure it's the pump or some electrical issue, if it doesn't hold it's the fpr.