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Peavey Basic 60 Info

This may be a dumb question, but I don't see it answered when I've done a search.

I just picked up a Peavey Basic 60 combo off CL for giggles. My question is, do these old Peavey's not have any low bass? All I hear on mine is mids, even when I crank the bass knob to 11. Granted, it would be awesome for old school punk stuff. However, I don't really play that anymore.

I even hacked it to where the amp part plays into my Hartke 112 cab that I know gets good and deep and it sounds the same. Nice grindy mid focus, but very little low bass.

It's old, so could it be that the amp needs serviced? Or is that the Peavey tone from back in the 80s?
 
So, I've buggered around with it some more. Set it up so my ampeg pf500 amp is powering the Peavey driver and my Hartke cab. In this A/B scenario both cabs sound similarly full and deep.

So, the question is, what makes a bass amp lose all of it's bass? And how much would it take for a tech to repair? Pretty sure it's not worth the money, but still curious.

Sadface.