That price is probably about right, but can't say for sure unless I saw it. The 2.5, Iron Duke as it's called, mated to the 5 speed Isuzu tranny, will return somewhere in the neighborhood of 30-35 mpg, depending on driving habits, YMMV. The Duke is a dependable engine, with little power. It's an economy engine with no power gains to be had. Likes to leak around the valve cover, but all in all a good motor. I had one for about 170,000 if I remember correctly.
Needs: Headliner Seats (ripped) Shifter trim warped Leaks oil at the pan (fixed twice, still does) Dipstick tube broken
Can anyone tell me what it may be worth? Seller wants $1000 OBO.
I can email pics to someone to post.
Also, can anyone tell me about the engine and Trans setup? Mpg? Reliability?
A little over 30 mpg. Maybe as high as 35 on the interstate. That transmission is good for gas mileage. High 20's around town.
The '88 2.5Ls were pretty reliable. However, expect to replace the ECU if it hasn't been replaced already. The refurbished ones are fine. The boards just need to be stripped of their conformal coating, reflowed, then recoated. The problem is the conformal coating shrinks over time and stresses the board, breaking some solder joints. It will manifest itself as totally random problems.
The price sounds reasonable to me if the car was taken care of well besides the issues you mentioned. It also sounds like a great candidate for an engine swap.
The presence of accessories, and whether they work, will also affect the value (AC, power windows and locks, sunroof). I get up to 37 MPG in my 88 duke t-top, and low 20's the way I drive it in town (foot on the floor out of stop lights).
I bought one similar to this for my wife. It only had 65K miles and the interior was in great shape, no rust at all, but the engine had a problem and we found it to be bent pushrods. We paid $1500 for it and felt good about getting it for that price. Oh and it has the T-tops too. So I would consider it a good price if there is no or little rust.