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I think you need to know a LOT more about the 164 in general and this one
in particular before you buy one at any price.
My guess is that the manifold air pressure sensor might have
gotten damaged, since it is mounted in the right front fender, also maybe
the atmospheric temp sensor, which is mounted in the front panel between
the headlight and the radiator.
The 75 164 has both improvements and detuning (which can be overcome) so they
are potentially a neat car but you have to know them to appreciate them.
Your question about them being SOHC indicates that you don't. They are a
pushrod engine with electronic fuel injection and electronic ignition.
Either the valve cover or the oil pressure switch could be spraying/dripping
oil on the exhaust and is in itself not a serious problem but it only takes
a few seconds to tell. The fact that you haven't done this tells me you are
not ready for this car.
If you can find the body parts it would probably be pretty easy to fix. All
of them are bolt-on.
Depending on the condition of the body, interior and engine, as well as where
the car is located, I'm not sure that $1000 is a bad price.
--
George Downs, The "original" Walrus3, Bartlesville, Oklahoma
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