For 5k I would expect that you will get an excellent example of a rev3
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I wrote this little guide a while ago.
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Make sure of the service, check it's using decent oil and has been changed regulary.
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The service scedule for an oil change is 6k if i remember but most owners drop the oil every 3k.
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make sure its had the cambelt changed at the correct times.
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60k or every 5 years which ever comes first.
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It should be using Toyota's own red
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"Forlife" coolant and this is worth changing every couple of years.
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For the 3SGE engine, reccomended spark plugs are NGK platinum, which are expensive at around
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£60, but only need changing every 60k.
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Accident damage; it's worth looking in the front and rear boots at the weld seams to make sure there original and the paint is too.
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Panel gaps obviously should be even too.
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When test driving it listen for knoking in the suspension, this is usually the drop links, quite cheap to get replacements, but can be a pain to take the old ones off.
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Binding calipers are also common, so check for any dragging whilst braking and make sure its not pulling from side to side.
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Also look for mayo in the oil cap
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- possible head gasket, oil leaks around the rocker cover.
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Syncro's on the gearbox usually go, but this is pretty obvious to find as it will be chrunching when changing gear.
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these MR2's are pretty good regarding rust, but make sure the arches are good, check for mud build up behind the arch.
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if there is mud there, remove it properly and make sure the metals sound and you should be OK
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Oh and if it's a T-Bar it will probably leak
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HTH