Congratulations. How much did you pay for it?
Did the owner provide you with detailed maintenance records. If a periodic maintenance wasn't done in recent months, I would be inclined to do a full fluid replacement/replishment on the vehicle. This includes oil change, coolant flush, transmission drain and refill, bleed brakes and top off with fresh fluid, steering fluid etc. I will also check spark plugs and serpentine belt.
Thank you for the congrats. I owned a 1992 Corolla, and outside of the rediculous front seat belts, I loved the car. It is the only car I have ever sold that I truly regret selling to this day.
Let's just say I did my research, paid less than KBB private party. I had some records, but not complete, but I have reason to trust the owner (long story). I had a pre-purchase inspection, and outside of recommending replacement of the valve cover gasket for a minor leak, they said it looked great under the hood. They said the lowest compression was 125 PSI for cylinder 1, 140-145 for the others. They said the belt, fluids all were good. Rear brakes should be done likely this fall, fronts are very good. Hoses are good, though if I plan to drive to Phoenix, they would recommend replacement and coolant replacement.
I will of course keep up on recommended maintenance to the best of my ability.
What are your thoughts on synthetic oil? I am considering upgrading to it for the protective properties. I am hoping to get 10 years/100,000 more miles from this car if possible (yeah, I know that's not likely, but with a Corolla, more likely than with many other cars out there).