Pre,
Just a word of caution. It might be true that the seller had only driven the car at 40th (+) Km. In fairness, it might be true that there was no major problem with suspension or gas consumption. Maybe the speedometer got truly busted out of normal use.
Maybe.
What IS sure is that once you decide to buy it you'll part with your P300th pesos. That's a lot of money in my humble opinion! If you make a mistake, bye, bye, 300,000 Pesos!
My suggestion is, do not ignore the cloud of doubt hanging in your mind. I once had the same budget and shopped for a second-hand car. It's so easy to get stuck to the first or second car in your list of choices, isn't it? (In the end I bought a brand new car for P330th-whose dealer got trashed here and everywhere because of disgusting practices, hehehe. Don't ask.

)
Be patient. Hold on to your money a bit longer. You will lose nothing by waiting a little longer, won't you?. Make sure that when you part with your P300th, there shall be no regrets. I have none.
Shop around some more!