I'm in the market for an older LX that I’m going to use as a project car. I want to get it cleaned up, detailed and use for the next 5-8 years for occasional weekend trips with the family. I don’t see myself putting more than 5k miles on it annually. I found a 2008 LX locally with 120k miles, single owner with a clean carfax. I live in Toronto so rust is unavoidable but how bad is the undercarriage looking on this thing? Should I go for it considering the price? ($16k USD so the price seems right)

 

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That's 15 years of constant rotting away of your underbody. I, personally, would never buy a used car from a northern state, or Canada. I wonder what the trouble would be for you to come down to a southern state and get one. And if I did live up north, I would have a full undercoating done when rust free.

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Just by looking at it, 15yrs car in salt states... doesn't look that bad to me... doesn't seem to spot any 'eating thru' .. mostly surface / minor rust at this point... plus it's going to be your project car, so it maybe fun to get your hands dirtier

 

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Part of the problem is that there is rust that you can't see so well. When looking at the bottom, you see areas where facing down where stuff can fall off. If you look at the topside of metal bars and pockets, that's where the sand and salt can remain and stay damp. But I agree, I've seen a number of cars that looked like swiss cheese.

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A lot depends on how inclined you are to getting your hands dirty. It may just be surface rust that might not be too bad when cleaned up.

That said, given that there is corrosion underneath, I'd be wary of any rust on the bodywork itself. I'd remove any covers and check the wheel arches, as well as the rocker panels and bottoms of doors. I'd also lift off any covers in the trunk to see if there are any signs of corrosion there.