I just looked at a 93 R1 RX7 and test drove it. The car drove great and felt like it had good power. It has 77000 on the orig. motor and turbos. He took me for a drive and when we stopped to let me drive I smelled a very strong burning smell and it lasted until we got down the road and it seemed to come back whenever we would come to a stop. After the car was turned off the odor was still there and lasted awhile. We popped the hood and you could smell it vaguely while it was at idle. The only other thing that I noticed was that the 5th gear synchro is bad. Is this car worth $14000. Thanks and sorry so long

 

It could be alot of things. Did it smell like and electrical burn? If so that might be bad; electical problems are a pain to diagnose. Did you try all the excessories and such like lights/ windshield wipers? Or, did you ask him if he noticed the smell and if it was normal?
Other than that, I don't know where else to tell you to look. Hopefully someone else can with a 3rd gen can help out on this one.
Coming from the engine compartment, I would think a strong exhaust leak or electrical problems, but I really don't know. What was the smell like?

 

the smell seemes like it was more of a burning oil type of thing... Are these cars known for any wierd oil leaks that might burn on the exhaust manifold or anything?? I did not ask the guy but I guess I probably should. It did not really smell electrical and I did use the lights and things of the such. Thanks

 

Could the turbos be possibly leaking oil and it burning causing the strong smell??? What does it mean if the turbo is leaking oil?? I'm sure its probably not good.

 

When i first got my FD, it had that smell. Looking under the car, you could see it was also leaking oil as well as most of the underbody being black. My motor was cooked, but it still ran. Quite smoothly I might add, just a tad slower than it should've been. I would diagnose this problem as a worn out motor, time for a new one. My turbos were bad too. But all is better now. 14000. I would say no. Try for 10K.