i guess u r talking abt previous models of alto and cultus....just to make clear...
alto is 1000cc carb engine...lacking fuel efficiency of EFI, convenience of power sterring, windows, mirrors etc. although it meets requirements of some due to compact size...
EFI cultus is a good car, engine is g series EFI which is pretty robust and fuel efficient, VXL version have power steering and windows, suspension and AC performance is good, only lacking in boot space...however being newer it will cost more than baleno...
now come to baleno, its offcourse better option if found in good condition and not jugarified by road side mechs.
being old is no issue as many other suzuk cars are using same or similar parts...