Your Opinion Please - Potential Purchase

[jghendrix]

I am going to look at a 97 Corolla base, 1.6 Auto 186K today. According to the seller (I will verify the docs), who btw is the original owner (verified this thru Autocheck), they have kept up regular maintenance, including a recent timing belt change. This is a very plain sedan with only AC, power brakes, and steering. It spent is time in State College PA and Jennette PA, until 2005 when it moved here to Durham, NC. They are asking 2400 dollars. Any thoughts? Is it too many miles, will it last much longer? Should I go for it, if it looks good, or should I move on.

Thanks in advance.

[blb]

The miles wouldn't bother me if it was well maintained. The price is definitely on the high end. Paint and body condition are big variables. If the paint is still good with very little to no rust around the rear wheel wells, if the interior is clean and it runs well, I'd need to be in the $1500 to $1800 range to be a buyer.

[jghendrix]

I mis-typed. It's 168K - not 186. The owner has said that the paint is a little dull, but the radio was upgraded.

Thanks.

[fishexpo101]

Also keep in mind that prices are starting to climb up there, due to rising gasoline costs. A clean 7th or 8th gen Corolla that was going for $1500-$2000 before are now being priced roughly double.

In fact, there was a 2001 Corolla (single owner, loaded, 68K miles) in my area that was originally priced at $7500 a few months ago and now priced at $11K!? That is within a thousand or two of what I paid for my 2002 brand new!

[blumonster]

Originally Posted by fishexpo101

Also keep in mind that prices are starting to climb up there, due to rising gasoline costs. A clean 7th or 8th gen Corolla that was going for $1500-$2000 before are now being priced roughly double.

In fact, there was a 2001 Corolla (single owner, loaded, 68K miles) in my area that was originally priced at $7500 a few months ago and now priced at $11K!? That is within a thousand or two of what I paid for my 2002 brand new!

High gas price is causing gas efficient used car prices to go up, that is right.

Also since the depression started, people have been putting off new car purchases as long as possible, leasing less cars etc so used vehicle market is becoming a sellers' market. I recently read that these days the used car prices are peaking.

If the car is almost rust free (PA is a road salt state), if you can get maintenance documents (periodic oil changes,ATF replacement, timing belt-water pump replacement etc) from the seller the car might be worth the asking price. All the same negotiate the price. Start by offering $1500, if needed you can go up to $2000 and I think you can get the car for that price easily from these sellers. Good luck.

[PhatRoyale]

It should last a lot longer than that.

If you plan on doing any highway travel, I would opt to look for an example with the 4-speed automatic instead.