the original 3EE motor had three valves per cyl.
but since the engine has been replaced and still needs gaskets (we don't know which ones they are referring to) it could be costly.
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if it's still a 3EE motor (identified by the label on the cam cover "12 valves"), be advised,
http://en.wikipedia.org/wiki/Toyota_E_engine#3E read the last part.
if it has been upgraded to the 5E motor, those are good engines.
regardless of the cost of the vehicle, or which engine it now has, since the engine has been replaced, i would take this to an ASE mechanic and have the leaks checked out first. if it's a head, intake, front or rear main gasket, you're looking at 200+ buck repair bill. and the big Q is why are they bad. all that should have been addressed prior to install.
the cost of an inspection is well worth the money.
since your likely not a proficiant mechanic and it's your first car, i'd find someone local for a cheap used car. you can see and touch it. stay away from the internet.
owner 89 tercel 3E. completely rebuilt by me. 35/44 mpg.