as for the car, seems like a good enough deal for 1000 bucks... make sure you've got a little extra cash sittin to the side ready for repairs. It never fails. It will run and drive great when you buy it, drive it home, and a day or two later, shit starts to break.
There isn't really anything too specific to look for when buy a 240, its pretty much all of the same used car stuff. Idle should be smooth. Should drive fine. Should shift fine. No leaks. No bottles of oil, coolant, fluids, etc in the hatch. Look for jimmy rigged electrical stuff. Check the oil. Check the coolant. Basic stuff like that. If it all checks out, then get it.