Any amount of cash you'll have to spend on bringing a 16v into order will still be less that getting a new/"newer" car. Saying that, that silver piece of sh!t is not worth it.
THIS:


J Reg, 158,000 bought 2 years ago (170k now) = £625.
Once the Valver is up to speed it will be a far better car, and you'll be hooked.
Cars are for driving. You'd be hard pressed to find a better drivers car.
Any old diesel sh!t box will get you from A to B.
The MK2 16v isn't regarded as the best GTI for nothing.*
*awaits the onslaught, but is fully armed and the graph is ready.