Going in to look at a 2001 Corolla..what to look 4

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I'm going in to look at a 2001 Corolla S...what should I be looking for?

It has 133,000 miles, priced at around $2900.

We are looking for a gas saver and also to alleviate one of our car debts, so we may sell our RAV4 and use the money to pay off the loan and this car.

What should I be checking for under the hood? Certain leaks? Seals? Corrosion? What should I be listening for? Smelling?

Thanks!
 
They are known oil-users. Check the oil and ask how many quarts they add between changes. My wife's 2002 consumes about a quart every 1k. It's been a great little car otherwise.
 
I had a 2001 with 101000miles that I just sold 1 month ago. That year is a known oil burner, so check that. The 01-02 corollas also had the dreaded P0420 code for the catalytic converter that was a nightmare once it started. If you have a OBD scanner, check to see if that code is stored.
 
Look for blown struts. Lift the little bellows thing if it's at ride height, see if the sticker on top of the tube shaft is soaked in oil. Not a deal breaker but make them knock $$$ off.

These do burn oil but evidence will be hard to find. You could swab a finger in the tail pipe, look at the soot disgustingly, and declare "this MUST burn oil".

Does the S still have the three speed automatic trans in 2001? That's a gas waster right there, and the darn things pop up disproportionately. If you see an auto box make sure it has 4 speeds.

Edit: ^ RE above, see if all the I/M monitors are done on any car you look at. An unscrupulous sort might clear a code then ship it out.
 
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