Welcome to the board, Breezd! It's always great to see new people enamored of our 4-wheeled beauty.
The SVX you found does not sound too bad at all for the money. Aside from all the basic things to look for when buying a used car, there are some points ot be aware of. Like Mike said, the biggest problem area is the transmission. It is actually a very strong transmission and can handle the power the engine makes but it suffers from poor cooling and if it runs hot the fluid breaks down quickly and it will fail prematurely. Check to see if it has an external tranny cooler installed. Also take it to a trustworthy mechanic or tranny shop to have it tested. If it is the original transmission you can figure on replacing it and should bargain on the price with the dealer accordingly. Average cost from what I've seen is between 3 - 4 grand for a Subaru rebuilt installed. If the tranny has already been replaced it could be hit or miss on durability if not maintained and cooled properly.
The second biggest problem area is wheel bearings. In the rear particularly. Take it for a drive and listen for howling or grumbling from the rear. Take a buddy and have him/her sit in the back and listen for noise and if there is any, which side it's coming from. Price for replacing rear bearings can range from $70/wheel (for the do it yourself type) to $250/wheel.
There are no real rust issues with these cars but be sure to check the trunk for water in the spare tire well. Many of them leak water around the trunk seals and/or tail lights. Not a big deal to corect but if it is severe and has been leaking for some time there may be rust in the trunk.
What you describe sounds like a fair deal assuming the mechanicals are up to snuff. You should be able to bargain heavily if any mechanical issues are found. If you do buy one be sure you can afford to replace the tranny if and when it goes. Mine died a couple months after I bought it. Luckily I planned ahead and purchased an extra warranty.
Best of luck to you! Don't be afraid to walk away from it if it does not feel quite right. While they are rare cars, they always seem to turn up for sale somewhere. Take your time and be choosy. You will not regret it.
