Mine was doing the exact same thing when I bought it. The low temperature IS the thermostat stuck open. Like someone said, it's a cake walk in this car if it is a 5 speed. You also have a burning oil smell which is the Valve Cover Gasket (VCG). It is originally a rubber piece(s) and the heat turns it into a plastic and I had to break it off of the valve cover in pieces. Obviously, plastic doesn't seal as well as rubber and if you look on the passenger side of the motor you will see oil leaking from around at least one of the valve cover bolts. Do a search on VCG and you will get an idea of what you are in for. No big deal at all.