1986 supra for $500? buy or not?

[titan357]

First post here, sorry if is in the wrong area.


I ran across my friend selling his 1986 toyota supra, I know him pretty well, and he is always changing, buying or selling cars.

He parked it and got a 240, he wants $500 for the car, or $750 for the car and rims, or $1,00 for both cars, and the rims, i don;t care about the rims, I dont have room for the other parts car.

I only want the car for a project car, here is what I know about it

1986 millage ( I think 80 - 130K NON turbo, NOT trubo!!!!
I am pretty sure it is manual
body looks good on the outside, interior is in O.K shape, no rust that I could see.
Car does run and drive, I have seen him drive it, however it has a blown head gasket
I was told that on him ( yonger than me ) ins. was $50 a month
Tires are good for 2-3 more months of daily driving
I was told that the tital is 100% clean, but he has not received it yet, he has only had the car for a shot time.

I really wanted a mustang or camaro, but I doubt I can find a already running, and good body shape car for that, and $500 is pretty much my current limit.

Thoughts?

Edit, car is a Targa top.