06 plate - Bargain or Headache

[makoto]

Hi folks, 

Need some advise. I can potentially pick-up a 06 plate cheap. However I noted a couple issues 1. the management light has a piece of black tape over it  , which obviously indicate issues 2. the oil pressure gauge is on the low side, actually very low and bounce up and down as you rev the car. The owner said he spend 1700 on fixing something in the engine, which he can't give me specifics on as he know very little about cars. 3. Not as big issue as the others; the rear box needs replacing.  My idea was to pick it cheap, fix it and sell it on. But I don't want to buy something which is going to cost me an arm and a leg and a mega headache.  Any insight welcome please. Do I walk away or can it be an easy fix. The car drive well and overall in a good condition. Its done 99k . 

Thanks

[r16]

Tape over the management light... Walk away :-)

[gwnwar]

You are talking about a MX5 2006 right.. management light do you mean check engine light CEL.. If so to to an auto parts store see if they will pull the codes.. The oil pressure gauge is not a real unit just an on/off got pressure not how much. Put a mechanical gauge on to check it out.. Back boxes are cheap.. Pull the codes and go from there.