story time

so I have been looking for a car for a while, i have chosen an amount that i want to spend, gone and got a line of credit that will absorb the amount, chosen the things we must have and the list of things that we would like to have. i added a few biases that i have and away we go. so i was looking for something kinda around the 3-4 g's and had picked a few from the pack. now i live 40 minits away from the major city so going in to see a car is a bit of a process. i had called several people to set up times when i could go see there cars, and left many messages. this means that when someone calls back i don't know what car they have. there are just to many of them to keep strait. a few gents had called me and one worked out where it was convenient enough for me to drive int winterpeg and go see it. so i drive 40 minits and get to the edge of the city, then i go another 40 to get to this stupidly hard to find - right next to the industrial part of the city - apartment complex. i drive in and see a man in his late 30's standing next to a slightly used 1989 Toyota corolla. he looks friendly and i start talking to him about the car. now i should tell you his asking price was close to 1g and this is not the kind of car i had been thinking of, but if you know me you know i am open to all kinds of new experiences (pony anyone) well, i take the car for a drive and find out a few things, #1 the exhaust is totally shot! as in it is missing major components, like the muffler, #2 i need to put in new cv shafts. #3 it has a booming awesome 20 yr old canadiantire tape deck missing some buttens! #4 the front tires are shot but the back ones are brand new! #5 it has rust #6 it was bought new by a nun and insured by a Catholic insurance company that insures clergy (are nuns clergy?) #7 she runs and drives like a new car! lots of power (4 a 4 cylinder) and is completable! all in all this car is a good car but someone is going to put some cash into this one. it is not a turn key car (Yet) i drive back to the house and am feeling like i should pass on this car cuz what i would offer would be insulting. so i tell the owner just that and turn to walk away. he sais "i am moving and i need to sell it, give me your offer" I turn around and say, no i don't think so and he sais "please do" I say all i can offer is $300.00 he said $500.00 and i say $400.00!
it was roughly half the asking price and now i have a line of credit i don't need as well as a car i never thought i would get. So now my only question is ................................... what the heck am i going to do with this thing?