$3200 is max dollar for that car. Especially if it not in it top shap body wise. I have 3 Mark VIII's 93, 94, and 95. $3000 was the most I've spent for the 95 and she is in very nice shape great paint all around (southern car) Look at it in my photo gallery.
Air Ride - It's hard to tell if the guy knows anything about the air ride. I'd suggest that if you could drive by a few days in a row with out the guy knowing you are coming. See if it's not sagging. Even if the car is not running the compressor can keep the bags pumped up.
Check the tranny... see if it seems to be shifting smooth. Look for a rumble strip kind of vibration at around 45 mph. Look for how it shift into 2nd. The 1 - 2 Accumulators are crap if they are still stock and the spring will brake, not may will. Easy fix but will cost you at a shop. You can do it yourself.
Do your usual look for oil leaks.
If you buy the Mark... you will have issues. There is now way around this. The car is old and parts will wear out. The engines on these cars are good and strong and if you take good care if them (keeping the oils changed etc) they will last. I have over 200,000 on my 93 and it's a very smooth running car.
But things will wear out and if you come to a boar like LvC most issues can be solved and the remedy will not cost you an arm and a leg if you can do the work yourself.
My tool collection has grown since I purchased my first Lincoln (93 Mark VIII) in June of 2004. But you will fall in love with your car... But there will be some lover's spats with it.. There is now way around it. Look at Mr. Wilson he's always has something to work on..
LOL.. always talking about selling it... but still he's keeping his car running and still has his Mark VIII... and Loving it!!
Since June of 2004 I've purchased 4 Mark VIII's if you could my 94 that I've purchased twice... plus one 85 Mark VII.
So, good luck on your purchase... and welcome to LvCs Mark VIII forum... I'm sure we will see a lot of you in the future...
PS.... got to the guy with $2500 cash I'll bet if he see's the cash he'll take it.