If it's a private party, the car will book out at about $4500. Get me a VIN number and I'll run a little check for you. Trade in value out of the book is about $3500-$4000. He won't get that by trading it in, I'll tell you that right now. So his true trade value is about $3000-$3500. He's asking $1300 over book value from a private party.
1994-2002.5 = 8.5 years. 115k = only 13-14k per year. That's not a ton of mileage.
Here's what you should be looking to replace/rebuild.
Engine It's probably getting tired.
Transmission If it hasn't been replaced, don't expect too much longer out of it
Rear End Making any noise? Traction lok working?
Things to be looking at that could very well be toast.
Tires
Exhaust
Catalytic Converters
Oil Leakage.
Shocks/Struts.
Body lines: Make sure they are straight and even. Look at the body lines around the trunk where the 1/4 panels attach. Look at the fenderwells to see any crumpling, run a VIN check, have it inspected by a mechanic for things like engine compression, alignment, and suspension components.
What you are considering is buying a car with well over half of the major component life expectancy over. Make sure you know they are good right now. You might think you're getting a really good deal at $5500, but if you have to make $3000 of repairs right away, it might not be so good after all.
Good luck!
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