In addition to these performance checks, hoses and belts should be visually inspected. All fluids (oil, coolant, automatic transmission fluid, power steering fluid and brake fluid) should also be inspected to make sure all are at the proper level, and that the appearance and condition of each are acceptable.
There should be no sludge in the oil, the ATF should not smell like burnt toast, the coolant should have the proper concentration of antifreeze and not be full of rust or sediment, the brake fluid should be clear and not full of muck, etc.