Relative to a typical 1998 Toyota, it is likely not a good car. Relative to a typical Big Three vehicle of any age over 3 years, it is likely an excellent choice.
Toyota Tercel's Reliability Percentrank average for model years 1988 to 1994 (the most recent year for which data is sufficient to provide a Reliability Percentrank for the Tercel) is .81, the lowest for all Toyota models offering a percentrank average for the time period. The average percentrank for the Toyota line for the 7-year period is .90. (The Reliability Percentrank average for models from the 1988-to-1994 model years is based on the infrequency of serious problems when the vehicles were 6-to-8 years old.)
By contrast, the Reliability Percentrank average for Big Three vehicles for model years 1988 through 2004 (the most recent year for which AutoOnInfo.net has computed Reliability Percentranks) ranges from .33 to .41, 40 or more Reliability Percentrank points below Tercel's 1988-to-1994 average.
Good sources to check are:
http://www.AutoOnInfo.net/Reliabilit...torVehicle.htm ,
the 2007 Age Equivalent Estimates for Toyota Motor Corporation vehicles at
http://www.AutoOnInfo.net/Durability...tionPage11.htm ,
http://www.AutoOnInfo.net/ChartTable...007Updates.htm ,
http://www.AutoOnInfo.net/ChartTable...008Updates.htm .
A word of caution: Before purchasing any used vehicle, you should always test drive it with a person who is knowledgeable about the mechanics of cars and preferably have a professional mechanic examine it.
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