Sure it can, especially when it was well maintained.
Case in point: a 1987 Toyota Corolla came to our shop for a comprehensive inspection so that our client could determine the vehicle¹s condition and see if it was suitable for her daughter to use to commute to school.
The previous owner was our client’s mother who sadly passed away. While doing the comprehensive inspection we found a few things that required some attention and probably about $1000 dollars worth of needed repairs.
In spite of a few dents, some rust and a broken light lens, the overall condition of the car was solid, with many new parts and clean fluids. For its age this Corolla was in better mechanical condition than many cars that we service that are only a few years old.
As a little, city run-around car this vehicle will be excellent low cost transportation for several years. You never know what a car’s true condition and value is until it is properly inspected.