The XY is a popular project car. Make sure you get any modifications/ restorations properly checked over. The higher spec XY’s (such as the GT and GTHO) sell for a serious premium. If you are looking to buy one, do the legwork to make sure it is genuine. There are a heap of GT replicas floating around, do not get conned into buying a mock up and mistaking it for a genuine model. As for the cars themselves rust is a real issue, especially in the sills and the floorpan.
Rust in all panels, floor pans and firewall. They tend to rust from the inside out, don’t trust a new paint job as a sign that it is rust free
Worn steering components
Check for any signs of modification/ restoration
Engine leaks
Reverse gear on automatic transmissions
Front suspension issues