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In my opinion, rust and crash damage are the most important things to check for. Other problems can be fixed by swapping parts, but rust requires major surgery that, when finished, leaves the body in a potentially weakened and more-vulnerable state in the future. Lift the carpets looking for rust, look at the rockers and wheel-arches for signs of bubbling or rust repairs. Also check around the headlights (there should be vertical seams showing directly below the headlichts, and running down below the turn signal lights to the wheel opening). If the seams aren't showing, they've been filled in, possibly indicating rust repairs. Also check for similar vertical seams below the rear tail-lights. Again, if it's smooth, the body has been filled in. Also check the battery box area and base of windshield for rust.
The engines are pretty bullet-proof, but fuel injection can be tempermental. It works great if it is kept up. All parts are available, so it can be brought back into like-new shape. I'd recommend a manual trans - check that the overdrive works properly (stalk on RH side of steering wheel activates the OD).
They have 4-wheel disks like the 240's. Brake fluid should be checker - if it's dirty, it's likely the owner has not replaced the fluid too often (should do it every 2 years).
In general check for leaks, etc. and that everything works properly. Check the steering for excessive play. The steering box has some adjustment, but they do wear if not topped up with oil occasionally. Also, the front suspension bushings are prone to wear. They're not too hard to replace (the upper control arem bushings, anyway!) and are relatively cheap. Tie rods, ball joints, etc, are all available.
Good luck!
Greg
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