There's always the possibility of corrosion inside the engine and some seals may have dried out and may leak. But if you're willing to deal with those things if/when they spring up then it's no big deal. I bought a 15k mile 89 engine from a junkyard a while ago. It had sat in their wearehouse for over 10 years. I got it cheap enough so I was willing to take a chance. Once I got it I took off the oil pan and cleaned it out. The oil didn't look so good but there was very little sludge on the bottom. The crank seals looked brand new but I replaced them anyways. I oiled up the bearings and cylinder walls and put the pan back on. I also removed the cam covers and oiled everything up but nothing looked unusual in there. I also squirted some oil into the spark plug holes. Once the engine was installed I discovered that all 6 injectors were plugged solid with dried up fuel residue so I removed them and sent them away to get cleaned. After they were re-installed the engine fired right up and ran like a champ. All told I spent maybe $150 for new seals(probably unnecessary) and the injector cleaning. I guess the thing to remember is that a low mileage older car can be a great find. You just have to take the time to make sure everything is up to par before relying on it as a daily driver.