I own a 92 Maxima SE 5 speed. It is definately my favorite car I've owned. I plan to always keep it, but right now its in resoration after being totalled in a hail storm.
The 3rd generation maxima (89-94) is an excellent choice and a good buy. For the money you pay, you will get a very reliable car with some nice options, and decent gas mileage; especially the 5 speeds.
89-91 SE models as well as all GXE models came with the VG30E engine. A very torquey engine for it's time, producing 160 hp and 182 ft/lbs of torque. I have seen many instances of these engines going for over 200k and sometimes even 300k miles. The VG is known as being the work horse engine in the Nissan line up, and was used in many of the platforms throughout the 1990's.
92-94 SE models came with the VE30DE engine
I love the VE engine! Some do not like the engine due to a problem with the design of the VTC (Variable valve Timing Control) system, which would sometimes starve from lack of oil with its location at the very top of the engine and tends to make a loud clicking noise upon failing, also causing power loss. However, with proper oil and filter selection this problem can be avoided.
You could get lucky like I did, and get a VE with redesigned VTC's replaced by a previous owner
The VE30DE was equipped with 190hp and 190 ft/lbs of torque. The engine feels most at home in the high rpm's, and so the VTC system is engaged at low rpm's to provide more torque.
5 speed VE maximas are highy sought after cars since in addition to the variable valve timing they also received a power valve controlled variable intake system (similar to the VQ30DE-K maxima of 2000-2001), as well as a VLSD (Viscious Limited Slip Differential), a fully independent rear suspension, and V rated tires from the factory.
I paid about $3000 for my maxima a few years ago, and it has been the best purchase I have ever made. I got dual power leather seats, a power sliding moonroof, BOSE stereo system, and a great performing sedan. I currently have 175,000 miles on the car, and I'm just hitting the point where I need to do a few major service items to the car (I'm finally going to replace the transmission after damaging 2nd gear, get new axles, and of course fix all the hail damage).
Sorry for such a long reply, I just love maximas, that's all
-Les
a few pics of mine...