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I have been looking for a set of Caddy calipers. I have a line on a set cheap, but the guy said that they need rebuilding ad have a little surface rust. Is the rust a big deal if its only on the surface? How complicated is the rebuild?
Got a hone that will do the bore too? I wouldn't waste time on a rusty set of calipers unless I was prepared to do a complete, thorough rebuild on them, although I do know how difficult these calipers are to procure.
As long as you are willing to do them right, no reason they shouldn't work.
Corvette calipers (early) didn't have seals on them, and they have a HUGE problem with rust in the bores. If it was open to atmosphere at all, (IE didn't have brake fluid in it) I'd expect the cast iron to have rusted enough to need a hone to guarantee the seals don't leak.
If the price is right buy the calipers remove the springs and arms and use them as cores to buy a set or reman calipers from your local autoparts store.