My opinion: If you're comfortable with the reconstruction I'd go for it. It sounds like a great deal, even if you do get rid of it in a year. 4k for an Echo with 40k miles is a great buy. Being that it's a Toyota, it's just broken in.
I think you'll probably want to hang on to this car anyway, unless some manufacturer starts selling flashy cars that get 50MPG for under $5k brand new with leather interiors.
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Current Car: White Lightning
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Retired Car: Betty White
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