It looks well-worn to me. At $1,500 and with 113,000 miles, it might make for an ok driver, if that was all a person could afford. If a person wanted a wagon like this for a collector car or a long-term keeper, it would make better financial sense to spend more up front for a less used-up example.
If it runs real good, then if you think it's a good deal, it is. Compare it against other cars in that price range in your area. Technically, a wagon should be worth a bit more in that price range (more versatile) '87 is a good year for the CP's, by the way. Last year for the knife-edged fenders, and it has the nicer EFI engine, as compared to the '84 and older units. Could also have the nicer sound system in it. When they re-did the instrument panel in '88, the speakers got downgraded. (Don't know the exact details on that.)
I'm not sure what I think about the price. A friend of mine was selling it an I took the flyer home as a joke. My husband jumped on it. He paid $450. I know he put a lot of time into it, and he probably does have close to $1,500 in it (including the $450). Well, maybe it's closer to $1,200, I don't know. Anyway, after replacing the shocks, he decided that he didn't want to keep it and had me put it on craigslist.
I tend to agree. The paint issue appears to be all surface so pretty easy to fix that up. It looks like the woodgrain is decent (not perfect of course) and might respond well to some vinyl cleaner (The meguire's satin is really nice). The wood grain and interior would be the expensive items and they seem good. I would probably bite on it if it is mechanically solid and good frame. mike
For a good running wagon or any vehicle that doesn't leak fluids, isn't a rust bucket, is a safe driver, $1,500 seems pretty reasonable.
Krash, the new dash was 1990, and they downgraded to 4 speakers from 6 in the top of the line systems. The speaker quality was just as good, but the door speakers became coaxial. Too bad, too, as the 6 speaker system, with those 8 ohm rear, 6-8 ohm door, and 6 ohm dash speakers is quite the system. I had it in my 89, and the sound was phenomenal.