Thoughts On Buying A Rebuilt?

I seen this rally red 03 on Craigslist, asking price 4,300. He said he was willing to take my 3,700 offer. My previous tib which I totaled was 2.7l and black with black leather. I really want a rally red this time however this one is cloth, which has it's ups and downs, doesn't look as good as leather, but the 2.0L will get better gas mileages. I'm wanting an 03 for under 5,000 dollars. He said this one has 90K miles on it which isn't too bad and apparently the seatbelts and airbags work, I don't know if I should buy this or not since it's rebuilt, that's all that's holding me back.... I think 3,700 sounds fair, but maybe if I offered him 3,500 he would take that too. Anyway my insurance said they would offer full coverage for it if I got it. And apparently it would pay out just as much as a non rebuilt title if I were to total the car out in an accident but I have heard insurance companies will lie to you and you pay full coverage on a rebuilt and then if you total it out and they send you a letter saying they can't pay you anything. I can't find any other tibs in my price range on craigslist for my state, I don't know if I should buy this one or keep searching.

What do you guys think?