my girlfriend has a mk2 sporting and it has a few faults but overall its a good car, definately cheap to run. the head gasket problem has been common on all 1.2 engines since the mk1 punto was released. the 8v more so than the 16v. other things to look out for are the engine management light (it goes on and off when it likes), airbag light, front wiper linkage breaks easily and often, paint defects on many cars (also stonechips/scratches easily due to thin brittle paintwork), rust along the front of the bonnet and roof where it meets windscreen, remote keys break easily on 16v models, the carpet in the drivers footwell doesnt last long if mats havent been used. nothing major and all the type of things you can use to haggle the price down. overall i'd say its the best car in its class from that generation. not as well built or reliable as a corsa but much better looking and less chavish. fiats lose value more than vauxhalls, but that means mk2 punto's are bargain cars now, and cheaper than an equivalent corsa. you'll get a 2001/2 sporting for £2000-2500, i'd recommend the sporting coz you get a great package with all the extras you could even want.