That car sounded like trouble. For not much more you should be able to find one that is mechanically sound. These are rugged cars, no sense buying one with major mechanical issues when a decent one can be easily had for a little more.
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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.
[SIGPIC]
..I also have a 427 Cobra replica with an aluminum chassis.