Hi Darren
Let me tel you a little of my story - I purchased an early (no.004) Feb 2012 car 2nd hand last September, was an ex demonstrator. The car was/is exactly the same as this one - sport grey, decals etc - but also came with intercom and rear rack & cover, already had the Centa drive & comfort steering kit. Car had covered 1850 miles.
I did a lot of research beforehand on TM and became gradually aware of all the potential pitfalls and upgrades. I paid 19.5k privately.
I love it - its fantastic, brightens my day each time I am able to use it.
In the main the car has been reliable, with only normal service items needing replacement. I have however gone/are going through a gradual process of upgrade/replacement.
To date the list is as follows (already done)
MMC Stage 1 - 900
Decat - nil
New petrol pump - 200
Rear hub - later offset type - 300
Supermax sprocket - 300
Tyres x 3 - 280.00*
New chassis - foc at the factory*
Clutch - 400*
Recon bevel box - 700*
Centa drive rubbers (renewed)*
New pedal box - 700*
Larger battery - 100
Urban cooling kit - 160
Cam chest upgrade - 400*
Lower wishbone upgrade - 150*
2 services - 500
Plus other sundry bits/enhancements
To date I think I've probably spent a total of approx £5100.00 - to get to where i am now.
I still need/want to look at the suspension (although the early cars with the non adj suplex front & rear, are much better than the current Spax - or so I'm told) and I am interested in the MMC stage 2.
Hopefully I can consider these additional upgrades over the winter.
The main driver in getting the work (marked by *) done was that the car had to go back to MMC to have the new chassis fitted (foc) and therefore it was much cheaper for these upgrades to be done at the same time (saving hugely on labour).
Would I change it for a new one - not now, all the time and attention I have given it have only served to widen my knowledge of the car and strengthen my bond.
In total I have still spent probably a little less than the sticker price on the one you are considering - but not much.
The most important upgrades in my opinion are, Centa drive, comfort steering, cam chest, urban cooling, rear hub & sprocket & bevel box (if its noisy). The chassis will be inspected by the dealer, and will be braced - it may already have been replaced (lots of early ones have).
The dealer will be fully aware of all the necessary upgrades, see if you can get them to either confirm they are done, or how many they will do in the price.
Beyond the necessary upgrades the best discretionary £1000.00 you can spend on the car will be either the MMC stage 1 or the G56 kit (£1500.00) - both massively improve the performance & general running.
Good luck in your negotiations and welcome to the fold(hopefully)
Regards
Andrew