Found a sick deal on a 60gal compressor - worth it?

So I was browsing Craigslist and found a 60gal, 5hp two-stage compressor for $400. It's an older model, but the guy says it runs great. I'm just a hobbyist, but I've been wanting something bigger than my pancake. Should I jump on this? What should I look out for?

Tim, that sounds like a steal if it's in decent shape. I'm a big fan of name brands like Ingersoll Rand or Quincy, but even a no-name can be good if it's maintained. Check for oil leaks, listen for knocking, and make sure the tank doesn't have rust or pits. At that price, you could flip it if you don't like it.

I've run a 60gal for years doing renovations. That size is perfect if you're running framing nailers, sanders, or paint sprayers. If it's a two-stage, even better. Just remember you'll need a 220V outlet. Also, check the CFM at 90psi - you want at least 10-12 for most tools. For $400, I'd probably take the risk if it checks out.

I'm all about deals, Tim. But be careful of the rusty tank - that can be a bomb. Also, check the pump oil condition and how fast it pumps up. If it takes more than 2-3 minutes from empty to 150psi, it might have worn rings. Still, $400 is mighty tempting. Ask him if you can run it under load before buying.

Good points guys! I'll check the tank real good and run it. I have a 220V outlet in my garage. He's asking $400, but I'm thinking of offering $350. Thanks for the advice!