There are some things to look out for with a Formula Blue.
First off, if you have no experience, can you take someone with you who does have experience?
Second, you want to see the engine running. This checks out the ignition, the powerbox, the starter for you.
If you cannot see the engine run, then you need to be able to try to start the engine (eg: with no fuel in it). Take the spark plug out and earth it to the engine, press teh start button, engine should turn over and you should get a number of sparks. (just one and no more means an ignition problem, not necessarily serious).
Take the normal precautions about the seller. Did he use the engine or has he acquired it and is selling it on?
Get the number of the engine (normally engraved on the lower left 'leg'). A call to Tabor (01305 774074) might tell you where the engine was originally sold and how old it is. (and whether it is somone else's that's been reported missing).
A good engine will have a logbook, but they aren't official or mandatory. It may simply be a notebook recording its lappage and whats been done to it.
The weakness in a Blue are the Powerbox (the older ones, pre Series 5, were more fragile) and the starter motor. Both can fail without warning, so even if it runs when sold, it isn't a guarantee they won't fail next time.
Things that affect the value are the Bore wear and the length of time since replacement of parts like the Piston, Crank and bearings. A recent engine was rebuilt with a new piston (£60+) but without changing the bearings (£7). The little end bearing failed and smashed the entire engine into scrap (£800).
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