If the car fails on any of these points, take it to a mechanic to evaluate repairs. It is then your call whether you want to walk away or negotiate the price based on the repair estimate.
We recommend that you contact your local Department of Motor Vehicles. Ask what forms are required to transfer the title as well as any other information you need to provide. For example, some states will require you to bring the vehicle to the DMV for inspection, some states require a smog certificate and others require the bill of sale from the current owner.
Finally, whatever you do, get everything IN WRITING. This means if you settle with a private party, write up a contract stating what you are paying for the vehicle and under what terms it is to be delivered.