Pre-purchase advice...400/420 or 500???

[skydivedickson]

Hello there

I am looking for some advice before I jump into a w124. I have owned a 300td wagon before so I know how amazing the w124 is but never a V8 sedan.

I'm looking at two of them, one is a southern state E420 and the other is in Washington state which is a 1992 500E.

There's a bit of a price difference. $12k for the E420 and $32k for the 500E(prices are possibly negotiable a bit). They both have around 115k miles. The E420 doesn't have ASR(not sure if this is good or bad, seem to be hearing different things about it online) or heated seats, the 500 has heated seats and is silver with beige leather.

Both seem to be in really good condition but the 500 has two quarter size of clear coat issues, the 420 is black with a great exterior. From the owners, they say that both are mechanically in great condition and it seems that neither have any rust on them.

I would probably purchase them sight unseen and use whatever one I get as a daily summer driver(both have cold AC) and store it for the winter.

As a first w124 sedan would you recommend the cheaper E420 or the more expensive 500E for a daily driver?

500E photos are attached, trying to get more of them but the owner is not actively selling it, he has owned it for 2 months and the previous owner has owned it for 12 years. The E420 is a bit of a garage queen and has been owned by the same owner for the past 12 years.

Thanks for your advice and time.

 

[maw1124]

Welcome. You’ve asked very good questions. Answer first: get the 500E for between $27k and $30k. But before you do anything, post the VIN for both. Chances are they’ve been covered here.

Why is the 500E worth $15k-$20k more? The fact that you only posted the 500E, on a site devoted to .036, contains the answer. I won’t delve too far into it, because I can be a bit laconic. But my official answer is you’ll get that $20k back over the years in some combination of (1) driving experience — lowered, flared, power, handling, etc., (2) ownership experience — special, hand built P-car DIY (if that’s your thing), car shows, street cred, all that fun stuff, and (3) price appreciation. Rank and weight them however you want, but that’s the answer.

Others will I’m sure chime in with more rabbit hole, Alice in Wonderland perspectives, which have been covered ad nauseum here before.

But do post the VIN of both, as the specific cars in question may (or may not) color what I’ve said.

maw

EDIT… I bought my .036 as a restrained rolling restoration, and my peculiar combination of (1)-(3) above has made the worthwhile. I’m not sure if the other V8 W124 would have been so, given that both would have cost roughly the same to bring them up to my spec (excluding paint, which I wouldn’t need).

 

[TimL]

I would be very VERY careful buying either car sight unseen. Have a PPI done at a reputable place. The mechanicals of these cars (suspension, all items ancillary to the engine) offer several bottomless pits if they have been neglected (wire harnesses, LCAs, shocks, tandem pump, water pump, gearbox, etc., etc.) will need attention if they haven't been gone through already. If sight unseen, be prepared to spend at least another $20K to make it drive and go like it should, especially if you plan to daily it.

 

[Kridre]

Owning any of the two is becoming a little bit challenging with all that NLA parts. 500E of course is more difficult because of exterior differences.

Try to find someone locally that knows this car's and take them with you to show you what to look out for. There's a lot of things to check especially on 500E to make your ownership a little but easier on your wallet. Buying neglected E420 or 500E can cost you more than $10k in parts only, add a paint job on top of that.

If I where you and looking for V8 124 I will look for perfect paint all around and some mechanical issues if you are the type of person that can DIY a lot of things yourself.

I personally don't believe in 124 that have absolutely zero rust, there could be rust under the factory coating that is applied underneath the car. You just simply not being able to see it, but well I'm located in Europe where they salt the roads like crazy so I have a little bit different point of view. Common places for rust are under the washer fluid tank, around the jacking points and on the edges of the fenders. If there is zero rust there then the rest of the car is pretty much solid.

 

[sheward]

Posted thoughts are my own as well. I'll add, you may end up worrying more about the 500E as a daily due to the low production numbers and even greater NLA issues. You will become addicted to either one.

Kridre: Your perspective on rust supports many of the other European owners. Living one quarter of my years in a similar environment I sympathize.
Two thirds of the US is full of cars virtually without rust. We are lucky that way.

 

[sheward]

I have a feeling the E420 may be the Georgia car. If so, I could possibly have a look at it for you.

 

[Gatorblue92]

Assume both will likely have ~5k in deferred maintenance needs. The E420 at 12k is nearly top dollar already for these cars and the 500E will only go up in value.

 

[TerryA]

INOP, the E420 would be a better daily driver. Reason being the initial outlay is $20K less than the E500E leaving you with more pocket money. Upkeep wise either car will drain your wallet. The E500E will retain its value and may even increase as long as you keep up with the maintenance. The E420 will eventually decrease in value.

I agree with Tim that a PPI is essential to not ending up with a money pit. I would also inspect the car/ car’s personally. If you can’t have someone you trust to inspect it for you.

OR be patient and wait for the right car.

Good Hunting

 

[duuder]

the E420 is a great car for being the E500E's little bro. get eyes on it and get the best car possible

 

[a777fan]

OP- is this the e420 from GA?

Thread '1994 E420, 040 Black/Saddle, 118kmi, $12k (Atlanta, GA)'
FOR SALE - 1994 E420, 040 Black/Saddle, 118kmi, $12k (Atlanta, GA) | 400E / E420 Cars for Sale

If you can afford it, go for the 500. My feeble check writing skills are the only reason I haven’t

 

[Jlaa]

Get the E420. Is 1/3 the price and may be in better condition bc garage queen. Both will be $$$ to bring back to A+. Daily driving these = Are you sure (NLA)?

- Mr. Laconic
(ahem @maw1124)

 

[szvook]

The aesthetics of an 036 might play into the decision. It does have a presence that 400E or E420 do not have. While I did not have a W124 with a V8 prior to getting my 500E, I did enjoy my 300E to its fullest for many years. And when I had both in my garage, my take on both was I want to drive my 300E and I can’t wait to drive my 500E. Plus an 036 is a head-turner, if one is into that kind of thing. And that’s my .02 cents.

 

[gsxr]

In addition to all of the above - check insurance rates on both. Daily driving a 500E could be a conundrum if you want agreed-value, and daily driving without agreed value is a bit risky...

 

[skydivedickson]

Thank you all for the advice. I will have a PPI done on the 500e if I end up going that route.

I checked the VIN on here but nothing came up for the 500e.

I also like getting my hands dirty so I don't mind working on the vehicle, I work from home so when I say daily driver it would be used to get groceries, visit friends, take the kids out, and go to the cabin. Stuff like that so not much mileage per year.

Anyone that has owned both of them? Does no one think that the E420 will go up in value with time? It is a v8 classic benz after all?

Thanks

 

[46Dodge]

I have put well north of 20K into my 500e to put it back to original condition, it is part of the fun of a rare car and making it an adventure. I do know and realize when I come to sell it maybe this summer it will be a loss on dollars on myside but I had fun with it during the ownership. With that said I would find a 500e to fit your needs...more fun to own.

 

[szvook]

Does no one think that the E420 will go up in value with time? It is a v8 classic benz after all?

Their value “might” go up, but nowhere near the E500E’s. They just do not have the “it” factor associated with E500E’s. You do not see any in-depth publications about 400E or E420 as you do with E500E’s. That should give you an idea where they stand. And having the history of the E500E’s explained by two of those involved in the project, further supports the attention E500E’s command.

 

[a777fan]

Agree on the 400/420 value wise- and I own one.

I always advise that future value/investment discussion should never come anywhere near being included in your logic/decision tree when considering the purchase of an older vehicle. Buy the one that you can afford, that you think you'll get the most personal enjoyment out of.
As others have stated, if you are a picky individual (as many of us here tend to be ) the required repair/deferred maintenance costs alone to bring whatever you buy 'up to snuff' following purchase will more than wipe out a couple of years of projected valuation gain anyway.

Buy what you like... enjoy it... and treat any valuation gain that develops as icing on the cake to the whole experience...

 

[gsxr]

Anyone that has owned both of them?

I have owned several of both, and currently we have E420's as DD's with the 500E as a weekend driver in nice weather. If you want something with some decent power, the E420 can be perked up with a differential swap. The 500E can be perked up as well with a first-gear start valve body.

Question - will you have another car available to get groceries with, if the weather is lousy and you don't want to take the 500E out? Especially if it snows where you live?

Does no one think that the E420 will go up in value with time? It is a v8 classic benz after all?

The E420 has been slowly increasing in value, as evidenced by current aksing prices. They will never match E500E levels though. Don't buy either as an investment. Best case, you just won't lose as much $$$ when you resell later on.

Definitely drive some various 124 chassis before buying either one, if you've never owned a 124 before. Keep in mind that well-maintained examples can drive very nicely, poorly maintained examples will not, but with no frame of reference you may not know which is which.

 

[Eagle01]

Get the real deal. Every W124 wants to be a 500. My experience have taught me that if you don’t get the best but think rationally about value, you’ll regret it after and will cost you even more afterwards. Just IMHO get the 500E and never look back, it’s absolutely a joy to drive and the people’s excitement when they see you is awesome. Sometimes I’ve had cars pull beside me while trying to video my car. The 500 is special, get it if you can.

 

[skydivedickson]

Get the real deal. Every W124 wants to be a 500. My experience have taught me that if you don’t get the best but think rationally about value, you’ll regret it after and will cost you even more afterwards. Just IMHO get the 500E and never look back, it’s absolutely a joy to drive and the people’s excitement when they see you is awesome. Sometimes I’ve had cars pull beside me while trying to video my car. The 500 is special, get it if you can.

I used to own a Nova that would pull a lot of attention. I didn't get the car for the attention but it was entertaining. I had an 87 w124 300td, my wife always wondered why random people would come up to me in parking lots and just want to talk about the car.

 

[maw1124]

I used to own a Nova that would pull a lot of attention. I didnt get the car for the attention but it was entertaining. I had an 87 w124 300td, my wife always wondered why random people would come up to me in parking lots and just want to talk about the car.

With the 500E she’ll know why.

maw

 

[Eagle01]

I used to own a Nova that would pull a lot of attention. I didnt get the car for the attention but it was entertaining. I had an 87 w124 300td, my wife always wondered why random people would come up to me in parking lots and just want to talk about the car.

I appreciate your Nova comment. Every old Mercedes is cool. I lived in Eastern Europe until 1998 and 80% of the cars on the road were Mercedes Benz of all kinds. There were hundreds of them around you at any given time but none of them were 500s. Every w124 is special and a joy to own and drive. The ask was w124 420 or w124 500 and 500e is super special for its heritage, drives and feels absolutely different yet still inexpensive for what it offers.