If the car has 150k miles and has been hit to the point where the lights are broken I would classify it as a parts car. Unless you are handy with body work or have an "in" at a body shop you are probably better off looking for a better example. From what you describe it sounds like it's worth about $500 and will require $2k in work at a minimum to make it right. And that's assuming that there are truly no mechanical problems. My recommendation would be to save your cash and get a nice 126.