For P38's look for.....
Something that has been repaired meticulously (ideally by LR even though it is no guarantee of excellence)
The later in the model line up the better
Be very very vigilant of anything electrical, door locks are a good one!
Suspicious coolant problems, hard top hoses and water in oil/oil in water
Misfires
Air suspension foibles
And anything electrical!
A new BECM will be ?450 odd from LR (don't whatever you do buy anything else). Suspension can be fixed to last a long long time but a decent investment is needed up front. Don't accept anything that has been serviced erratically or cheaply. Also there are some P38's with open loop LPG kits, do NOT buy them - this exasperates the lean burn, hot running, slipped liner problem. Good multipoint kits are fine but make sure it is well serviced.
I would say you need to have anything from ?1500 to ?2000 ready if you buy a ?1500 -?2000 car, suspension and a BECM will eat most of that no problem, though he suspension will be nigh on bullet proof if you have caught it early.
