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I found an element that im interested in buying. The asking price is 3500, which is great, but there are some potential severe problems that i'll have to fix to drive the car daily. My thought is that some of them might be connected in some way, but im not sure.

The worst problem is that the engine has a rev limiter of 4k RPMs. It acts as if its redlining at 4,000 RPMS in every gear. The next problem is that the speedometer doesnt work at all. It stays at zero all the time. Third, the odometer reads 203k miles and doesnt increase. I test drove the car about 5 miles today and the milage never changed. Does anyone know what might be causing these problems? Id like to buy this car for its versitility, but i dont want to invest in a money pit. I have another K24 engine and transmission incase one of those gives out, so it makes since that id buy an element.
 

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Welcome, Purplewolfhound.

Are you certain it's the rev limiter? Could be another fault (ignition problem or restricted fuel filter/line). Either way with 200K-plus miles, no speedo/odo and that weird cutout, the car would have to awfully cheap and you'd have to be awfully handy to take it on as a project.
 

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Potential money pit because we're talking about control electronics now. This car needs to have codes read. If the "check engine" light (yellow motor symbol) doesn't light with key on-engine off, then it's burnt out or disabled.

While I don't know this in fact, my edu-guess is that the 4K limit is because the ECU may not be seeing speed input. Without speed confirmation, while RPM are up it may be deciding that things are questionable and invoking the anti-self-destruct systems.

Also, any older vehicle that isn't clicking the odo is not to be trusted. That indicated 203K miles could easily be 303K miles in reality. Is the "D" light blinking at any time? If the speed sensor is disconnected (at the transmission) it will register an error and flash the "D" light to indicate a problem.
 
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