We had a non-turbo growing up. You'll see I own three foreign vehicles now. The Capri did that single-handedly.
I'd buy a Miata instead, because I think parts for the Capri will be so difficult to find, and many of them will be unique to that vehicle.
It should be immaculate for that price. You can probably get an older Z3 for only a few grand more.
Well if you get a Miata for $5k, take decent care of it in two years I bet you can get $5k for it. New cars only get fatter and more expensive, which makes the old Miatas more and more valuable for some people.
Made in Austrailia, the US, Austria... it didn't matter. We had three Ford dealerships in a town of about 10,000. None of the three could get it to run correctly. With about 50,000 miles, it consistently failed emissions testing. In WI, if you spend over 1500 trying to get it to pass you're exempt. So that's how we sold it.
One big advantage it has/had over the Miatas is that it fit me better. I'm only 6'0" tall, and have a hard time sitting in the first gen miatas with my head below the top of the windshield. Also, the Capri's have a useless backseat to hold stuff that my little sisters could fit into. As a design they're a decent car, but parts and diagnosis are difficult on such a low volume vehicle.
At that age, you're past most of the depreciation due to age. If you buy a decent car, it will pretty much hold it's value. So if it were me, I'd spend the extra for a Miata or high mileage Z3.
There were a pair of them on craigslist for $600 a while back around here. I'd def get a parts car.
Now is not the time to be convertible buying, that thing is a heap the current owner held on to all winter to try and get most $$$ for summer fun.
And I remember that episode of COPS, something about a sticky clutch cable and a rare turbo only made two years and he had to drive fast to (memory fades me; was "drunk logic")...