[speedzak]

Wow! That's some good post, Sushant. It not only helps in buying a Palio adventure, but a general reference post it is. Good job!

As I had been recently helping out some relative of mine to buy a Palio 1.9D, let me put up my opinions here.
The adventures are very rare to find in the used car market.
I stumbled upon 2 adventures in the last 1 year for sale and both were well maintained. Means, very enthusiastic kind/people who really take care of their vehicles bought the adventure it seems.
So even if it's a 2002 model, chances are that it could be a good piece.
Spare parts will definitely be a problem. Especially, body parts and suspension parts.
Check the gearshift in the car. It seemed to be prone to repairs in some Palios we saw.
Take the car to a bad patch of roads. Switch off the aircon and drive in a steady pace while keeping your ears wide open. Both, windows down and closed. If you tend to hear noises/rattles/thumps etc., try and determine where it is from. If it seems to come from the suspension/drive train, run! Don't even look back.

If you're in love with adventure, then there's not much left for you as a second option. Best of luck with your search.