How much should I spend?

[CaliFinn]

This is my very first post on a forum of any kind, so please be gentle.

I have been interested in a 500e now for some time, and now I have decided to find one to call my own.

I have given myself a budget of $30-35k (or perhaps more if the right car is out there). I want the car to be a rather reliable driver, although I'm looking for more of a weekend cruiser, and not a daily driver. I am not looking to work on the car beyond simple repairs like break jobs and other simple maintenance... I don't mind wrenching, I just don't have the time.

So here is my 'philosophical question'; am I better off buying the best, low-mileage (around 100k miles or so) car at the top of my budget range of $30-35k, or a $19-22k car with higher milage and spending the additional funds on repairs and maintenance as needed?

I realize the answer is car specific, and either scenario can go sideways, ergo the 'philosophical' nature of the question...

Thoughts?

Thank you in advance!

 

[doolar]

Always get the best you can afford within your budget.

I would not stare too much on the milage (others may disagree though), unless you're a collector trying to make an investment, but do care about the service history and general and specific condition(s) for the 500E. These cars were made to a really high quality standard, and can hide problems longer than many other period vehicles, so a "good" example can fast turn into a money pit. Choose carefully, get advise from somebody who knows about these cars, and buy the best example you can afford. It will most probably be cheaper (and more joyful) in the end.

Also, make sure to find a good trusted indy workshop for the things you don't want to do yourself, shouldn't be a problem in CA, the CA people here can give you information on where to go!

And welcome to the boards!

 

[nocfn]

You are going to find that stuff needs to get done, if not at first but with 2-3k miles after. So i suggest you lower the acquisition budget to account for 6-7k in required repairs so all in you are 28-33k. 1k for proper tires is expected, engine mounts harness that is rebuilt etc. You must be prepared to spend the coin no matter what your cost to acquire is.

I agree with miles, a driven car has had
Maintenance. The lower the miles
May meAn more mx. Good paint and body, good interior etc are priceless as most all of the engine parts can be had for the most part.

 

[sheward]

Welcome! You have company, this is the only forum I post on and I'm still clumsy. Doolars advice is good. Buy the best car you can afford. You'll find a lot of enthusiasm and help here. Enjoy the search. Oh, and keep us posted on what you find.

Drew

 

[Jlaa]

You are going to find that stuff needs to get done, if not at first but with 2-3k miles after. So i suggest you lower the acquisition budget to account for 6-7k in required repairs ..... Good paint and body, good interior etc are priceless as most all of the engine parts can be had for the most part.

I agree with budgeting 6-7K in required initial maintenance costs ---- and I also agree that good paint and body are almost priceless.

- The fact that you are considering spending 35K or more (assuming the right car is out there) implies to me that you appreciate stuff in very tip-top condition. Perhaps some OCD. I certainly fit that description of OCD.

- The thing with paint is that it adds up really quickly. And if you're OCD about paint, then you are OCD about paint. All these cars are now 25+ years old --- so if you need to repaint, then its tough to just paint some of the car (unless you are talking about touching up rock chipped front end or something like that with a spray/blend) --- and to reshoot a whole car, glass out is what --- 12K? 14K? More? Especially in California.

- Also interior gets expensive fast, if you are OCD about that kind of thing. I know I am. New front hides including installation? That's probably 2.5 - 3K. New headliner? 1K. Refinish interior wood due to cracking? 1.0 - 1.5K --- cuz you gotta refinish all the adjacent pieces of wood, even if not cracked, to ensure color match.

- Then all the mechanical stuff starts to add up too, even if the car has less than 100K miles. Upper wiring harness? 350 clams + your time. Lower wiring harness? A little less IIRC but a lot more labor involved. And you'll probably want to freshen up suspension related stuff like the steering damper, perhaps the lower control arm bushings --- and if you do that, maybe just do the whole entire control arm (since the bushings cannot be replaced on the later model ones) ---- and replacing the entire control arm with the later one is a good way to fit the bigger brakes/calipers from the R129 silver arrows ---- because heck if you have a car with awesome interior and paint, then why the heck not .... and then of course maybe you want to replace the plastic oiler tubes with aluminum ones, which means you take the valve covers off. And if you do that, then might as well replace the plastic timing chain guides .... and while you're there, clean/seal any leaking cam adjuster magnets, and replace the spark plugs, and OBTW is the power steering pump leaking?

And then you have a gloriously expensive Sunday driver. But the satisfaction when you wheel it out of the garage on Sunday will be worth it --- driving the E500E makes you feel like you are on top of the world.

Sorry I am rambling.

 

[gsxr]

Ditto everything Jlaa said. Keep in mind that a $30k+ car is still very likely to require $$$$ invested in maintenance / repairs, unless you stumble across a rare open-chequebook car in truly pristine condition. IIRC, Jlaa's car was one of those, it was low-miles and well kept, but still sucked in a fair amount of $$$. For MOST high-dollar cars, you are buying a low odometer reading with a car wrapped around it.

IMO, a lower-mile / higher-dollar car is generally better suited towards collectors / investors who won't be driving the car much. These buyers also generally won't do much, if anything, besides basic maintenance. You'll be less nervous driving a higher-mile, well-maintained car. The big question is, how picky are you on appearance of paint and/or interior condition? If you are less picky, you may want to steer towards the higher-mile cars with more documented maintenance. Or consider one that may need paint, but is mechanically up to snuff.

BTW - do you have color preferences? That could be a major issue, particularly if you don't want black paint, as >50% of cars imported to USA were black (either 199 Pearl Black, or 040 Black).

 

[CaliFinn]

Thank you for the great advice everyone! I agree in general that the best car you can afford is the way to go, while leaving some funds in reserve. Seems like there may be a sweet spot of a car where some of the common repairs/replacements have been addressed, without the appearance of all kinds of other and cosmetic issues. Cosmetically, I care more about the interior than the exterior personally. I think the interior of these cars is the most successful automotive design of the era, if not all time. There is just something about the combination of simplicity and, for lack of a better word, magnitude of the dash that is ensorcelling.

The OCD factor is an astute question, perhaps somewhat common in people drawn to these vehicles? I am an architect, so I have those tendencies for certain, but they seem to be coiled in my DNA only concerning a limited number of subjects-- mainly work--thank god. I must confess, however, that the fact that you can still get OM parts for these cars is a big attractor, since you kind of know that money can or could actually fix almost any issue that may come up, so I may find myself spinning in the OCD death spiral soon enough. I have an old Alfa, and having to find a newish windshield, for example, is a deep, dark, nightmare.

I'll keep board posted on what and when I'll find out there. Seems like spending more initially is the way to go. I will not, however, buy the $85k car with 35k on the odometer that's for sale in Scotts Valley!

 

[Jlaa]

I think the interior of these cars is the most successful automotive design of the era, if not all time.

YES. FINALLY. Someone who put this into words! I feel that this is the combination of the upper dash line and the simple bauhaus elegance of the instrumentation.[/QUOTE]

There is just something about the combination of simplicity and, for lack of a better word, magnitude of the dash that is ensorcelling.

I had to look that word up.

 

[doolar]

YES. FINALLY. Someone who put this into words! I feel that this is the combination of the upper dash line and the simple bauhaus elegance of the instrumentation.

Couldn't agree more. Even if I've not driven the W124 for a long time, everything seems to be in the most natural place. How intuitive the CC is, access to buttons etc. Plus, it's a beautiful simple design.



I had to look that word up. [/QUOTE]

 

[nocfn]

There are items that are NLA so do not buy a car of the 036 with body damage in front of the doors unless you have already secured spares on cladding, headlights, bumper.

 

[sheward]

Just look at other desirable/enthusiast cars from the same era. Interiors are very dated. Interestingly, the only other car that does not look that way to me is the Porsche 911s.

Drew

 

[gsxr]

(snip) I have an old Alfa, and having to find a newish windshield, for example, is a deep, dark, nightmare.

I'll keep board posted on what and when I'll find out there. Seems like spending more initially is the way to go. I will not, however, buy the $85k car with 35k on the odometer that's for sale in Scotts Valley!

Speaking of deep, dark nightmares... read the thread (link below) about the Scotts Valley car. Great example of why a top-notch PPI can be worth every penny:

https://www.500eboard.com/forums/showthread.php?t=10242

 

[CaliFinn]

The search is over.... Picked one up yesterday.
Happy New Year!

 

[nocfn]

Pics or it didnt happen

 

[CaliFinn]

 

[ace10]

Congrats!

This one, yes?

https://www.500eboard.com/forums/showthread.php?t=11791

 

[CaliFinn]

Indeed!

 

[sheward]

1994 040. A rare bird, congratulations!

drew

 

[nocfn]

Enjoy the machine!!

 

[Trae]

SWEET, now for our 040 theme song:

[video=youtube;pAgnJDJN4VA]https://www.youtube.com/watch?v=pAgnJDJN4VA[/video]

 

[Maui]

Congrats. Can't wait to read your first impressions.

 

[psportoveloce]

Congrats! There's a solid Bay Area .036 contingent if you deign to hang out with other owners.

 

[Jlaa]

Oh congratulations! What a nice car!

 

[Jim Rosenthal]

There we are, all about to fall roof-first into the water.

Seriously, congrats!! It's a lovely car. I still have a '69 280SL I bought from Roy Spencer fifteen or more years ago. He's a good guy and knows his Mercedes very well indeed.

 

[skikrazey]

Now that's an outstanding way to ring in the new year!!! Congrats and enjoy!!!

 

[gsxr]

The search is over.... Picked one up yesterday!

Now you need to start an OWNER thread.

 

[Eno]

Beautiful, gorgeous car.
Congrats and enjoy it.


Sent from my iPhone using Tapatalk Pro

 

[TerryA]

Congrats,

You should have a “WINNER”. I hope you stay with us and start posting some pic and stories.

Take Care