2007 Toyota Camry le with 120000 miles. They want 5300. Is it worth it? I also read they could have an engine defect is this true?
You should check the used car buying guide under the FAQ. There is a page for Toyotas to avoid, this is one of them.
To make it easier, here are the links where you can find this car in our FAQ Used car buying page
https://carkiller.com/scottykilmer/qa/progressive-common-and-major-problems-toyota-and-honda-vehicles-not-to-buy/
https://carkiller.com/scottykilmer/qa/toyota-bulletins/
Could be an oil burner. I'd probably pass. Plenty of other ones out there.
The 2007 Camry LE has the 2.4L I4 engine (2AZ-FE), and from 2007-2009 those engines experienced oil burning. I would avoid that specific engine in those model years. Scotty made a video about this engine:
https://m.youtube.com/watch?v=cdvjVnwE4Ec