Purchasing a 98 Honda Accord in 2012?

[Toaster!]

This will be my first car which I will be paying for out of my own pocket...I feel like the car is way too old and it has 200,000 miles on it already...Im no car expert but I believe thats too many miles on it already...The guy is letting it go for $1,500...Good or bad deal?...Believe me I wish I could do better but paying every month for a semi-new car will have my budget tight...Im 18 with a job that pays 7.50 an hour with 34 hour work week...Paying for my college classes and books is another thing to worry about...Will this car do for now? Or should i just avoid it?...Let me know what you think