The 1987 Caprice is a body-on-frame workhorse built on GM's proven B-body platform. These cars are mechanically simple and parts are cheap, but the TH200-4R and TH700-R4 overdrive transmissions are the Achilles heel, and high-mileage V8s often need bottom-end work due to decades of neglect.
TH700-R4 / TH200-4R Transmission Failure
Common · high severityTypical onset: 80,000-150,000 mi
Symptoms: Slipping on 3-4 upshift or complete loss of overdrive, Harsh or delayed engagement into gear from park, Whining or grinding noise in overdrive, Transmission overheating, burnt fluid smell
Fix: These overdrive automatics were not robust in stock form. Expect a full rebuild with updated clutches, bands, and torque converter. Plan on 8-12 hours labor for removal, rebuild, and reinstall. A good rebuild shop will upgrade the weak points.
Estimated cost: $1,800-3,200
Rear Main Seal and Oil Pan Gasket Leaks (V8 engines)
Common · medium severityTypical onset: 100,000-180,000 mi
Symptoms: Oil puddle under rear of engine after sitting overnight, Oil coating on bellhousing and transmission case, Visible seepage around oil pan perimeter, Gradual oil consumption requiring frequent top-offs
Fix: The two-piece rear main seal design on small-block Chevy V8s is prone to leaking. Rear main requires transmission removal (6-8 hours total). Oil pan can be done with engine in car but requires lifting motor mounts and is tight (3-4 hours). Many techs do both at once if transmission is already out.
Estimated cost: $600-1,400
Intake Manifold Gasket Failure (305/350 V8)
Common · medium severityTypical onset: 90,000-140,000 mi
Symptoms: Coolant loss with no visible external leak, White smoke from exhaust on cold start, Rough idle or misfire, especially when warm, Coolant in oil (milky dipstick) in severe cases
Fix: The composite intake gaskets on these TBI small-blocks deteriorate and leak coolant into the valley or intake ports. Requires intake removal, thorough cleaning, and gasket replacement. Budget 4-6 hours labor. Use Fel-Pro 1205 or equivalent updated gaskets, not OE-style.
Estimated cost: $450-850
Transmission Oil Cooler Line Corrosion
Occasional · high severitySymptoms: Transmission fluid leak from lines near radiator, Fluid dripping along frame rail or crossmember, Low transmission fluid level, slipping symptoms follow, Visible rust or green corrosion on steel cooler lines
Fix: The steel transmission cooler lines rust through, especially in salt states. Lines run full length of the vehicle. Replacing both lines takes 2-3 hours. Strongly recommend switching to stainless braided or pre-bent brake-line style replacement. Refill and check for proper level after repair.
Estimated cost: $250-500
Worn Lower Ball Joints and Idler Arm
Common · medium severityTypical onset: 70,000-120,000 mi
Symptoms: Clunking over bumps from front suspension, Wandering or loose steering feel on highway, Tire wear on inside edge of front tires, Steering wheel shimmy or vibration at speed
Fix: The lower ball joints and idler arm wear out with age and mileage on these heavy cars. Ball joints require pressing or riveting depending on design (2-3 hours per side). Idler arm is straightforward (1 hour). Alignment required after any of these. Do a full front-end inspection at purchase.
Estimated cost: $400-900
Carburetor Issues on Non-TBI V8s (Rare on '87)
Occasional · low severitySymptoms: Hard starting when cold or hot, Rough idle, stalling at stops, Black smoke from exhaust, fuel smell, Poor fuel economy, hesitation on acceleration
Fix: Some early '87s or police-spec vehicles may still have the Rochester Quadrajet carb instead of TBI. These carbs are rebuildable but parts availability is declining. Rebuild takes 2-3 hours if you know Quadrajets. Many owners convert to TBI or aftermarket EFI instead. TBI swap is the modern fix.
Estimated cost: $300-600
Body Mount and Frame Rust (Northern/Salt Belt)
Occasional · high severitySymptoms: Visible rust or holes in frame rails near body mounts, Body sitting unevenly or sagging on frame, Creaking or popping noises over bumps from body flex, Doors misaligned, gaps changing when driving
Fix: Body-on-frame construction means the frame can rust out while the body looks decent. Check frame rails, especially behind front wheels and ahead of rear axle. Body mount bushings rot and frames perforate. Minor surface rust is OK; structural rust is a walk-away. Repair is welding/plating, 10+ hours if bad.
Estimated cost: $1,500-4,000
Buy one if you find a rust-free, well-maintained example with service records — mechanically simple and cheap to fix, but avoid high-mileage unknowns with transmission issues or frame rust.
AI-assisted summary drawn from NHTSA recall data, our labor-times database, and platform knowledge. Not a substitute for a pre-purchase inspection on a specific vehicle.