1ZZ-FE Engines - Toyota Corolla (2002) - Are they OK?

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Hey gents,

Tomorrow I'm going to see a used Corolla Verso (2002) 1.8 VVT-i T, automatic. After a little quick search, I've realized these cars have 1zz-FE engines. Are these not reliable, as some suggests pre-2005 models have some design-flaws? Any owner-experience here so far? I'm going to treat this car as a run-around, second car to do some boring trips.

Cheers