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Wish I could have afforded such a car when I was an undergrad!
However, even if I could have come up with the purchase price for a good example, there is no way I could have kept the car in top shape. As much as I like both the 126 sedans and coupes, I just have a tough time recommending them for someone on a really tight budget. The newest examples are now 12-13 years old, and no matter how well made, cars age.
Repairing the AC system can be expensive, and things like timing chains on V-8 cars can take a chunk out of anyone's wallet. These cars are now looking at lots of items like engine and tranny mounts, suspension bushings, and possible transmission work.
For $10K you could buy a nearly new Corolla, drive it for a few years, sell it for $8K and put nothing but gas in it in the meantime. After graduation, sell the Toyota and reward your hard work on getting a degree and new job with a Mercedes.
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