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It's probably good for the 40-45 mpg range in nice weather. Remember: 3 speed, so it'll be bad on the freeway.
My advice: wait for something else with a manual transmission.
Also - have you done the math to figure out how much you'd actually save by buying a beater?
EDIT: the cars are reliable. The mileage wouldn't scare me off, but it all depends on whether it was looked after.
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