Getting Ready to buy my First Car...and its a Honda, need some feedback and suggestio

Hi Guys, well, after about 2 years I finally came up with the hard earned cash to buy my first car and after much searching and haggling I finally found the car that catches my fancy, its a 1999-2000 Honda Accord VTEC VTI automatic, I just have a few questions since Im not yet that familiar with this type of car nor the feedback both good or bad if any so let me just give you a quick rundown of the cars current state and the asking price of the seller

1999 Honda Accord VTI VTEC - Bronze color

-Near mint condition upholstery and interior, not leather
-automatic tranny with motorized seats
-Engine looks almost new, since it was seldom used and owner is very keen on maintenance
-120k mileage
-small paint scratches on the front bumper and the back
-suspension in good condition does not squeak and underside looks good
- brand new battery
-No alarm but has a central locking remote however 2 of the 4 locks dont seem to operate

Asking price P250,000 but was able to haggle it down to just P230

so my question is, is it a fair enough price and also one of my most important questions are,

-how good are they for long drives
-are they gas guzzlers
-any common problems the 99 accord is known for (IF ANY?)
-etc?

wanna make sure cos my money is hard earned and want to make sure I get the most bang for my buck