I currently have 240,000 miles on my 93 celica GT and she is still running strong. I have had a few ups and downs, but have always managed to figure it out and get her back on the road with no major overhaul. I have the same engine, the 2.2 Liter 5SFE engine. Very strong. The car is very fun to drive and has plenty of power. If you buy it and drive it home for your son and are inclined to like sporty driving cars, then you may change your mind and keep it yourself

The automatic may be a little different than my 5spd though. I have never driven a auto tranny Celica. If they have really taken care of the car, then the body will die long before the engine.
As far as price. Hmmm. I would have to see for myself. Celicas go for a pretty penny around here, but the 94 underwent a extreme change in body style which isn't quite as popular as the 92-93 model. So, go for good condition blue book value and decide on what the fancy extras are worth to you. It should definitely help in your son's popularity factor in picking up ladies

(which he may not need help with anyway).
Good luck.
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1989 4X4, V6, 31x10.5, 248K miles- work in progress
1993 Celica GT, 5Spd, 230K miles- gonna cherry this one out!
Saving for a 1993-1998 Supra Turbo 6Spd someday!!