98% sure that im gettin an xe!

[Ford_Boy]

hey is this a good deal? my cousin's cousin is selling his xe falcon for $400. he used to drive it around but now he drives an eb2.
the xe ran out of rego in august. it has been in his family for 20 years i think and was driven by his grandfather for 16 of those years. it has 150,000 plus ks and is completely original.
he said he fixed the tranmission 1.5 years ago. its pretty straight and has only a patch of paint fading on one of the passenger doors. im not too worried about paint because my dad will re spray it for me.
so what does everyone think. will an xe make a good car for a first car or should i look around more? if i buy it ill be buying after new years and i wont be driving it until its fixed up and i have finished my hours and gone for my ps.
its a 6 and its automatic. i would prefer manual but ill buy it if it looks the goods. did the xe come out with a 3 speed or 4 speed auto? oh and im not 100 percent sure but it may have had a gas conversion. i was at a cousins party so i didnt hear that but he said somthing about gas. thanks and please comment on what yous think.