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Well the one thing I can say about the 86 is that it was my least favorite of all of my Toyotas. Although the car was nice enough when it was running good, it is the only Toyota I have ever owned that needed to have the engine rebuilt, and this was at 91000 miles. I had the GTS version.
I think that part of the issue is that this was a new first time version of the car since this was the first front wheel drive model and it switched from the bulletproof 22r to the 3sge I think it was. At least for the celica this was the first year for that, and sometimes first years aren't the best since they need to get the bugs worked out. This is also the only toyota that ever left me stranded somewhere...unfortunately it was 375 miles from home.
That being said, the price you quoted doesn't sound bad. Around the Portland, OR area I can see them frequently for around 600-800 bucks, so your price seems pretty good.
Hope this helps a little.
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The Toyotas I Have Owned...First to Last
1972 Corolla 2 Door Wagon
1975 Celica GT (Hit by Drunk)
1976 Celica GT
1975 Celica GT
1975 Corona Wagon
1984 Celica GTS
1981 4x4
1986 Celica GTS
1974 Celica ST
1977 Corona Wagon
1980 4x4
2005 Matrix XR
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