New model price keeps used car meter running for high-revving coupe. By Joe Kenright.

The price of a new Celica SX helps keep the old SX and ST alive in the used car market. Today's SX has a base price of almost $35,000 - $40,000 for a Celica ZR - compared with about $12,000 for the 1985 ST and up to $15,000 for a 1986 SX.

This is not just any old used car. It's the ST162 series, which transformed Toyota's affordable Celica coupe from a hairdresser's car into a high performance bargain.

The SX scored a number of firsts - front-wheel drive and a high-revving 16-valve engine - and a more temporary feel which reflected the artificial five-year lifespan of most Japanese cars at home.

Its resale value is impressive for a car which came on the market for around $20,000 in 1985 but, because of the floating of the Aussie dollar, rocketed by the end of 1986 to almost $34,0000 - where the SX hovers today. Canny early buyers pocketed a windfall profit, but it was only a short-term gain.

A late 1985 ST162 Celica should be a $5000 second-hand car, depreciated against a $20,000 replacement cost, and at this price any major repairs or shortfalls would be easily forgiven.

Against today's new price, though, used values for the 1985-88 ST and SX models have settled around $12,000-$18,000. It's great for the owners who have enjoyed low depreciation and the best part of the car's life, but maybe not so good for today's second-hand shoppers.

It is a trap to recall the enthusiasm around a new car's release and assume it still applies 10 years later, especially when an average car travels around 200,000 km over a decade.

Toyota cleverly introduced Australia's first unleaded Celica with a high performance twin-camshaft engine; previous Celicas had shared low-tech, low maintenance engines with local Coronas and commercial vehicles.

The low introduction price and hot engine worked brilliantly in the short term. A clever variable induction system allowed the engine to be slogged at low speed by the dodderers and thrashed by rev heads.

The Celica had a rave reception, especially judged against the then-new Mazda RX-7 at more than $40,000.

Nobody questioned whether a sophisticated performance car was what the traditional Celica market needed or whether a front-wheel drive car with so much power would be reliable.

And buyers were not ready for the maintenance and driving habits required to keep a hot twin camshaft car in reasonable running order.

The first Celica SX has great looks and plenty of go, but be prepared for a performance machine which is ripe for regular and expensive maintenance.

It's lost none of its appeal, but - as it ages - a combination of careless early owners, complexity and imported parts can make it a costly proposition pulling values down sharply.

The lookalike ST has the less stressed Camry engine; the resulting economy, minimal costs and unerring reliability more than make up for any drop in performance. For a sporty coupe without hassles, the ST emerges as a fantastic used buy.

Model history

November 1985: Release of all-new front drive ST162 Celica SX with hot 3S-GE twin-camshaft engine for less than $21,000. Peak power of 103 kW at 6000 rpm. Two-slot grille. Styling was inspired by French Panhard coupe.

October 1986: Massive price rise to $34,000 accompanies SX upgrade with standard rear spoiler, leatherbound steering wheel, central locking, electrically-operated windows and multi-plex four-speaker sound system.

Cheaper ST became available in coupe and liftback bodies with the narrow angle twin-camshaft 3S-FE Camry engine. Look for vinyl door trim, basic sound system; most electrics deleted.

Power steering standard but rear disc brakes replaced by drums. Looks the same as the first SX apart from single exhaust and skinnier wheels.

October 1987: Upgrade with fine horizontal bar grille and tail light changes. Electric sunroof standard on SX from April 1988 and on White Lightning 300 limited edition runout special in 1989.

Overview

It's easy to get carried away and not spot the faults on a car with this much emotional appeal. An expert check can mean the difference between bankruptcy and enjoyment.

The STl62 Celica is old enough to be up to its third or fourth owner, each one progressively skimping on the growing maintenance bills as it drops in value.

The complexity, high technology and fine tolerances are beyond the equipment or ability of many mechanics.

And the costs of imported parts are beyond the reach of most current owners.

Be wary of vehicles without a genuine expert history, patched-up to sell.

Many of the original owners did not recognise they had a special high performance car.

Because it revved so easily to its high red line they drove it flat out from the minute it left the driveway, regardless of whether it was warmed up, serviced or tuned.

Most company car owners would not have bothered to convince their company bean counters the cars needed special servicing. These are ready to give you real trouble.

The body shell is also light and doesn't like being hit or thrashed over rough roads.

Check carefully for smash damage or for a cut-and-shut case made up from several wrecks. Finish was exceptional so odd paint finish, inconsistent gaps, water leaks and rattles should be chased up.

Any mismatches between books, number plates, build plates and registration label need a special investigation.

The Celica ST attracted a more caring, conservative market in later years when performance wasn't the main buying motivation. So it's more likely to feel tighter in the body, to have missed out on the big prang and also to have a genuine history.

Toyota Australia found a limit to Celica prices with the latest model and, by playing with equipment levels, cut them back for 1995.

The 1989 Celica SX, which dropped in new price by up to $6000 on release compared with the ST162 series, has since grown in popularity as a used car, pushing the earlier ST162 series below $20,000. The first of the series now cost as little as $12,000, reflecting high repair costs if anything goes wrong.

The best are still sought after. In mint condition, the top examples - including the White Lightning specials - could become minor collector's items. But expect to pay closer to $20,000.

The ST is facing a revival in values as more people realise it is, effectively, an imported sporty variation of the Camry with the same virtues.

If an average 1988 Camry can fetch $13,000 plus, the Celica ST around the same price is top buying.

As a slick second car or an urban runabout, the Celica ST has few peers.

The big check

* Engine The SX demands a compression check and careful inspection. Valves and rings can be worn by 100,000 km for hefty overhaul bill. Plug leads are expensive, induction system trunking to air-cleaner can split and cause rough running and again is costly. Platinum-tipped spark plugs are expensive to replace. Dud coolant can lead to expensive water pump troubles as it is driven by camshaft belt.

* Oil Changes A twin-camshafts worst enemy is dirty, thick oil which doesn't get to all components quickly at start-up. 10,000 km oil changes are too long for short city runs. Allow for major engine damage if an SX has been driven hard on short city trips without extra oil changes and correct oil.

* Transmissions Clutch pressure plate on the SX can distort, causing baulky changes. It can damage the gearbox, which seems to be on its limits with SX but not ST. Check shift quality and noise in each gear. Clutch hydraulics could be leaking and ready for overhaul.

* Exhaust Hefty rear muffler is not cheap; regular short trips can eat out system, so check low km city cars carefully.

* Tyres The SX requires expensive V-rated tyres ($200 plus each) which wear quickly, so watch for odd secondhand or illegal tyres. Cheaper H-rated tyres of ST are a much better everyday proposition.

* Exterior Look for bubbling paint on poor bumper repairs; bulging wheelarches; low front spoiler and front indicators attract scrapes. Check operation and condition of retractable headlights.

* Interior Check sound equipment and all accessories, including air-conditioning.

* Brakes Check operation of SX rear disc callipers and leaky rear slave cylinders inside ST rear drums. Look out for undersize disc thickness.