I've owned my VZ for 3 years. 2005 Lumina. I was the 3rd owner, 1st was a rental business in QLD and then an indonesian entrepreneur which I bought it off privately.
I paid $13000 for it with approx 80,000km on the clock.
I travel approx 50km daily to and from work mainly freeway plus country trips/holidays and get approx 10L/100km.
It had a water leak since I bought it which proved very problematic to pinpoint.(even from holden several times!)
it has cost me a water pump, seals, I had it to 4 mechanic's including 2 holden shops, on the water side of things I have had 3 minor overheats trying to pinpoint the problem with losing water. finally Ultra tune(Iknow theyre expensive, but its right across the road from where I work) found the leak (it was on the join between the radiator and the plastic tanks) I left it until the radiator failed and just replaced the whole radiator.
since that repair, there have been no leaks and the car runs brilliantly. it has been better and better everytime I have had a repair done, but now that the water leak is finally gone, it is great, I cannot recommend the VZ highly enough, it is good bang for buck.
Other mechanical repairs I have done including all scheduled services are rear main seal, machined brakes, and all of the general maintenance **** that goes with owning any car.
It is now ready for 180,000 km service, and I am actually dreading putting it in, not because they will find something wrong, but because I risk someone tinkering with what is a stable car with no issues. Really considering doing the oil changes and basic **** myself from now on, but it could do with a tune up tho and I like my weekends to do other ****, Id rather have someone fix it while I'm at work.
My view would be that they are really great cars if they have been looked after and had reliable work done on them(like anything abuse it and it will abuse you back), but there are so many dodgy mechanical joints that you need to have a mechanic you can trust. If you have that, then once you get it to a stable setup, it will stay that way with pretty minimal maintenance. Getting what you buy to that point is the hard bit.(this goes for any 2nd hand purchase tho.)