This is an early model Chevy Monza (no turbo sound), was in very good condition and actually in pretty good working order, just a little noisy, understandable for 40 odd years old, I’m a little noisy sometimes myself:p
So this post is mainly just going over disassembly and basic lube, that’s all this one needed, and a bit of a cleanup. I used CRC 556 as a penetrative lubricant, great for loosening up parts that are a bit seized up noisy, and safe on metals and plastics. I would not recommend WD40 for this, for reasons that I might do a blog about later, but it is not really a lubricant like CRC 556 (although that also is really a light lubricant). After a penetrative, cleaning, loosening lube, you could also use a silicone based lube around the flywheel and (potentially) in the motor parts, in a nutshell if at all possible keep it to minimum (to loosen seized parts), as this motor was originally intended to run dry. In this one I did apply a little Super Lube with PTFE (Teflon) on a couple of the shaft points on the outside of the motor, just a little is all that’s needed. At the end of the day this motor ends up transferring quite a lot of kinetic energy into the flywheel and the engagement of that into the rear axle can cause the car to go very fast if everything is in order. It then can become sensitive to any kind of shiny surface and needs something to grip onto from take off, and/or extra weight. But all that’s all part of the fun! This one is not one of those models, and runs at what I would call a good speed for the average kid in the average house. I suspect from around 1980/81 when they added the ‘turbo sound’ (not in this car so it must be pre that), they also added an additional gear that spins the flywheel even faster (which seems like a ludicrous thing to do but there you go!). I’ve found that the ones I have with the turbo sound feature, once cleaned and lubed (as above – just a little around the shaft pints and flywheel, and potentially none in the gears themselves) go significantly faster to the point of needing some kind of grip mat to run on (if revved up to the max, you can also control that by dropping the revs/flywheel rpms).