Kevin,
- Low operating temp: It's either a bad t-stat, or bad temp sender on the front of the intake manifold.
- Tranny shifts should not be that harsh. Could be a broken or disconnected vacuum line, or bad modulator. It should be smooth shifting at part throttle, and not very firm at WOT (they're programmed differently than the older diesel trannies).
- Engine mounts are expensive for the V8, and a RPITA to replace.
- 7 seconds is far too long to crank. Check caps & rotors, if you're lucky they can be cleaned (scrape the green crud off the brass contacts). Otherwise, they are $$$. Wires rarely need replacement, so if there's no "light show" in the dark, leave them alone (also $$$).
- The 119 doesn't have a history of head gasket leaks like the 104, but they can still leak - it's just not common.
- The oil leak is quite likely the power steering pump and/or hoses. Could also be the cam solenoids. Tranny cooler hoses are another common fluid leak. Valve cover gaskets are spendy ($30 ea?) and awful to replace since it's a RPITA to R&R the valve covers.
- If the engine harness has not been replaced, plan on shelling out for that. Pretty likely the ETA will follow, although if the car hasn't been in a high-heat environment, you could be lucky. Both of mine had a new harness and rebuilt ETA installed by PO's.
- The 1992 model has weak front brakes... 1993-up received thicker brake rotors. Just an FYI.
What color black (040 or 199), and what color interior? What options? Available options were heated seats, ASR, rear roller blind, rear reading lamps, cell phone, and orthopedic seats.
For any teenager's first car, I normally wouldn't recommend something with this much power... I would strongly recommend finding a 400E with ASR if possible. At least the 2.24 gears keep it slightly more sedate leaving a stop, but when running properly, the car will pull above 100mph faster than you'd think possible. You can slow it down slightly by installing a 94-95 LH module, which also drops the top speed governor from 155 down to 130. Any 6-cyl 124 would be a better choice, IMO. Find an M103, or an M104 that already had the head gasket fixed.
