I have a coworker who’s looking to sell his car, a 1989 Toyota Corolla. I know the basics of looking after a car, but a car that old is almost foreign to me, because I’m from a state where cars rust out.
I figure Toyotas are pretty reliable and so is the 4AG engine, but I don’t want to end up with another money pit. What should I look out for, or should I just avoid it altogether?
To counter this point, the money you would spend on an '89 Corolla plus maintenance would probably be far cheaper than a newer vehicle.
This is purely anecdotal, but I have a few friends that have old Corolla’s, and those things just do not die, despite heavy abuse.
Probably, if you do the work yourself.
However, time has value and there is no getting away from the fact that 30 year old cars need regular tinkering to stay reliable and comfortable to drive. If you love the car, have a backup, and like wrenching it can be a very rewarding experience. However, starting a maintenance project knowing it has to be done before you go to bed if you expect to drive to work in the morning is extremely stressful.
A 89 Corolla has collector value. OP can get a car 10-15 years newer for not much extra money and be in for a lot less headaches.
Old Corollas are just really good little nuggets. I think if OP was ready to have a shop check the car over and then slowly start working on the critically important items of repair himself. Then he should buy it.