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it's worth as little as you can pay. Thus the term, "buyer's market".
1,000$ will get you a running car with problems. Three grand can get you a wonderful one. What you describe sounds like a 1,500$ car, presuming you can get the hood open and verify that it looks good in there.
As the guys say over and over again, "there is nothing more expensive than a cheap mercedes".
-CTH
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