Hi Jason, you can't afford a new Vios? I'm sure the sales person can dig up a good deal for you wot. I'm not a huge fan of 2nd hand cars unless you're looking for modding project car la.
Gen 2 is a campro engine and has a majority of plastic-y interior stuff. The problems with this car is abundant, like the alarm going off if car is in a hot area, the windows not working very well, the door handle colour peeling off, backside too high so parking can be a pain, and many many more. On the plus side it's relatively light, nice chairs, clean interior look and of course, it's a 1.6. If you decide to go for a Gen 2, DO NOT buy the automatic version. Its gearbox is more or less if not the same as the Wira, ie-3 gear gearbox. It's heavy on petrol and prone to problems. Get a manual, more picky upper and better FC. Personally I'd go for teh 1st generation Wira SE manual and do it up. It's cheaper and it looks nicer :D
Vios has its own fair share of problems but they are all minor. VVTI engine and it's a light body car. Of course, it's a Toyota. Build quality is definitely there in comparison. It's only auto but heck it's a good car in general. No idea its 2nd hand value tho.. you notice that not many people put their VIOS up for sale? Hehehe.. nuff said.