TomO tells it like it is. Any visible rust is the tip of the iceberg at the rear quarter panels of the Civics. My teal VX went from no visible rust to bad rust in only four years. My heart was broken - waaahh!
If a car's appearance is really that important to you and you want an "old car" you're going to be looking for a long time.
But hey, you just might look down and find the rough diamond that everyone else just walked right past.
If you want the car to look mint - you will need to cut out a big piece of your quarter panel, weld in a new piece of sheet metal and have it professionally prepped and painted - then it will look like brand new. I think this could be as little as $500 total if you know someone who knows someone who does body and fender work. It could cost $750 or more if you go to a stranger.
If you don't care that the panel doesn't look exactly factory new - you could do what I did and spend about $50. But as I said I don't know how long my repair is going to hold up. I could have done better but I was not willing to - I just used touch up spray paint that does not match exactly.
If you really want the car I understand how you feel. I have owned lots of cars and the 92 Civic is by far my favorite. Don't let the seller take advantage of you - Go to Edmunds.com and look at the used car price true market value. I did - the 93 DX with 177K miles in mint condition was valued at only $1556 retail for zip code 32301 Tallahassee FL.
But, like Matt T says, "if it's worth 2700 to you, offer it. The value is up to the buyer, and the market"
I'm a natural born cheapskate so that prevents me from paying more than the market price for anything!
I ran that description through KBB in northern Delaware... It says the car's in fair condition, worth $1,575 private party value. Even in good condition (no dents/dings/rust, undamaged interior), it only lists at $2,305.
18months ago i picked up a 94 cx civic for 1100 no rust 180k miles on it. only a small dent on the hood and a bad throw out bearing. why pay anything more than 2k for something that may not be as good of a find?
talk to the guy again in a month, see where he stands with his price. it will not sell for over 3k.
don't waste your time or time will waste you