Brilliant!
Sounds like normal things - rear lights are probably in need of resealing , that's the usual water entry point, but holes won't help! Panel behind rear bumper is normally rusty. For £100 I'd guess you got yourself a very nice little project. Enjoy - they're great little cars!
David
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VOC 400 Series Register Keeper
The current fleet:
1997 440 LE, 1996 460 CD,
1994 480 GT and 2007 V50 SE Sport
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