The 1998 Mitsubishi Magna range of configurations is currently priced from $1,980.
Our most recent review of the 1998 Mitsubishi Magna resulted in a score of 7 out of 10 for that particular example.
Carsguide Contributing Journalist Ewan Kennedy had this to say at the time: How much?Expect to spend from:$2000 to $4000 for a 2000 Mitsubishi Advance$4000 to $7000 for a 2002 Verada Xi$5000 to $8000 for a 2004 VR Limited Edition or a 2005 380 GT$6000 to $9000 for a 2007 380 LX Series II or a 2008 380 GT Series III
You can read the full review here.
This is what Ewan Kennedy liked most about this particular version of the Mitsubishi Magna: Good AWD, Reasonably spacious underbonnet area
The 1998 Mitsubishi Magna carries a braked towing capacity of up to 1500 Kg, but check to ensure this applies to the configuration you're considering.
It would appear the fluid has been overheated, so I would be doing a full flush of the transmission, not just a fluid change. I wouldn't bother about the coolant.
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THE Camry is a good choice. It's a reliable model and won't cost an arm and a leg to run. I would also consider the Nissan Maxima A32, which fits your budget, and don't forget the Mitsubishi Magna. You will get a later-model Magna for the same money.
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THE most likely place the leak is coming from is the valve-cover gasket, but having changed that, the next most likely source is the head gasket, as you suggest. It is not unknown for the head gasket to leak at the point where the oil supply for the overhead camshafts passes through the gasket.
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The Mitsubishi Magna 1998 prices range from $1,980 for the basic trim level Sedan Executive to $5,610 for the top of the range Wagon Altera Ls.