YouTuber buys 500E (Video - Hoovies Garage)

[gsxr]

I have always believed (and honestly have never seen it really disproved) the old adage “The most expensive car you can buy is a cheap Mercedes.”

More correctly:

“The most expensive car Mercedes you can buy is a cheap Mercedes.”​

This is often very true. And if you can afford a nice one, yet choose to buy a cheap one, that generally isn't bright. But if you have champagne taste on a beer budget, would you rather drive a cheap MB or a 10-year old Kia? Just sayin'.

https://www.500eboard.co/forums/index.php?threads/kia-rio-wreck-photos.8654/

<-- uh, Gerry, this emoticon is still dead... [Edit: It's back now, but pixelated and oversized?]

 

[Stevester 500E]

I am biased, because I believe I bought the cheapest 500e on the planet., and it is a rolling parts car. But not only am I part of the .036 club, I am part of the Spruce Mafia.

 

[Stevester 500E]

I don’t think anyone is talking about CRUSHING (destroying) the worst-off cars. At least for me, my thesis / premise has always been to DISMANTLE the basket-case cars and use the parts to keep others on the road.

NO ONE is ever going to restore a 500E basket case when 10K Hoovie models or 15K “drivers” or 20K BaT katarakidd flipper-dealer specials are available.

I have always believed (and honestly have never seen it really disproved) the old adage “The most expensive car you can buy is a cheap Mercedes.”

Personally I’ve always bought the very best example I could.

I’ve never been burned yet.

Point well taken, but when a car is dismantaled and parted out, 99,99 percent of the time, the chassis and an VIN go to the grave-and that to me, classifies as a crushed .036.

 

[gerryvz]

I always record known wrecked/decommissioned/dismantled/crushed cars in my personal database ;-)

 

[Dunnik]

I always record known wrecked/decommissioned/dismantled/crushed cars in my personal database ;-)

I almost don't want to know, but how many of those categories in total?

 

[Stevester 500E]

I almost don't want to know, but how many of those categories in total?

he wont tell....but he gets a thrill every time there is a new entry

 

[2phast]

Do you have the two signal red 500e's that were wrecked and parted out? How about the couple of 500e's that Steve Geyer parted out?

 

[alabbasi]

I have always believed (and honestly have never seen it really disproved) the old adage “The most expensive car you can buy is a cheap Mercedes.”

Yet there's nobody cheaper than a cheap Mercedes Benz owner. It's a paradox

 

[gerryvz]

Yet there's nobody cheaper than a cheap Mercedes Benz owner. It's a paradox

Is that related to Mercedes-Flopperism ?

 

[gerryvz]

he wont tell....but he gets a thrill every time there is a new entry

I think that's taking things just a BIT too far .... though every car that is wrecked/dismantled/crushed/taken off the road, increases the value of the survivors. No question about that.

Is it something to get a thrill about? No. I would not have owned and run this forum for the past 10.5 years if I didn't celebrate these cars -- ALL of them.

It's just that some cars (and more and more as time goes by) are not financially not worth salvaging. These cars will never be Gullwings, which people do spend big money on salvaging the surviviors. But a salvaged Gullwing can push two million dollars. The best E500E I've ever seen is not even worth 10% of that, and never will be.

Do you have the two signal red 500e's that were wrecked and parted out? How about the couple of 500e's that Steve Geyer parted out?

Hi Rik, not that I'm aware of. I'll go through my database and compile the records of cars that I have that are documented as wrecked. There honestly aren't too many of them. Far more I've documented with salvage titles.

 

[gerryvz]

I have approximately 35 definitive records of "wrecked/decommissioned/parted" cars that are in my database. Over the past 10 years, I have not kept my database to the level that I once did, because any and all cars that come up for sale publicly are documented and discussed here. So, I would have to individually go through each FOR SALE listing here and reference it against my own database, and likely there would be a few more cars that have been documented as wrecked/decommissioned/parted.

I have approximately 20 definitive records of "salvage title" cars that are in my database, though there are likely many others that I either didn't catch, or didn't document as salvage title (auction cars), or so forth. I would expect that there are likely a couple hundred active examples of E500Es out there in the USA with salvage titles, because of being in significant accidents and then repaired/bought back, or the titles were washed, and so forth.

Doing some rough math/calculations, there are around 1,100+ cars that are individually identifiable by VIN that are listed on this site as having come up for sale. This is more than 10% of worldwide production.

 

[alabbasi]

Is that related to Mercedes-Flopperism ?

More of an observation than a criticism but when I look around, most older Mercedes Benz are kept running on a shoestring budget. Veggie oil in the fuel tank and propane in the A/C system (if it functions).

It can be frustrating/comical when someone shows up with a pick'n'pull price sheet and loses it in front of you when you refuse to sell parts for the same amount (which I've had happen to me) but for the most part, it's true recycling and we've all benefited from forums that helped us DIY a problem that would have otherwise cost us thousands if we took it to a shop.

The 500E is kind of a paradox in itself when you consider that a nice W211 E55K can be bought for the same price as a rough 500E, or a nice W210 E55 for half of that.

 

[gerryvz]

Maybe. Maybe not. If the end result is a car worth $20k, it's not that bad of an idea. If you spend $20k and end up with something still only worth $10k, uh... that's not good.

Life doesn't work that way, 98% of the time. It never happens where someone buys a $10K E500E, puts $10K into it, and then suddenly it's worth $20K. If you buy a $10K Hoovie E500E, give it a $10K pristine paint job and don't bother touching the mechanicals, is it worth $20K? Doubtful.

Just like when you renovate your house, you typically don't get the full amount out of it that you invested in it. You may get a good percentage out of it (depending on what you renovate -- bathrooms and kitchens have among the highest returns), but generally not the full amount.

In both cases, will the value go up? Sure. Just not by the exact amount invested (and don't forget to include labor costs if the E500E work is professionally done). $10K worth of mechanic's labor doesn't go very far at $150-200 per hour.

 

[TerryA]

My only comment is a $10K E500E is for a DIY guy who has more time than money. Not everybody has $30 to $40K to dump into a sorted out car. That’s a position for a successful person (usually older but not necessarily) with a lot of disposable income.

The DIY guy with limited income will, over time if his wallet and enthusiasm holds up will get the job done. It may take 10 years or so but in the end he has saved a car and time has added more value to the brand as well. In the meantime if he treated the restoration as a hobby the DIY guy has kept himself busy and entertained for 10 years.

Just my $.0.02

 

[Stevester 500E]

Life doesn't work that way, 98% of the time. It never happens where someone buys a $10K E500E, puts $10K into it, and then suddenly it's worth $20K. If you buy a $10K Hoovie E500E, give it a $10K pristine paint job and don't bother touching the mechanicals, is it worth $20K? Doubtful.

Just like when you renovate your house, you typically don't get the full amount out of it that you invested in it. You may get a good percentage out of it (depending on what you renovate -- bathrooms and kitchens have among the highest returns), but generally not the full amount.

In both cases, will the value go up? Sure. Just not by the exact amount invested (and don't forget to include labor costs if the E500E work is professionally done). $10K worth of mechanic's labor doesn't go very far at $150-200 per hour.

Just as investing in the the bathrooms and kitchens, it might be best to invest in the mechanical areas of the 500e for a better return?
I know we are comparing apples and oranges, but here is a good question, "Is it ever wiser to buy the least expensive 500E"?
When buying a house, it has been said, "Buy the worst house in the best neighborhood".

 

[Harv]

Another new car. He hints at it being the $440,000 Countach, but that can't be. Probably the [$80k] 328.

https://fblod.com/showroom/inventory/lamborghini-countach-za9ca05a0jla12332/
https://fblod.com/showroom/inventory/ferrari-328-zffxa20a0k0079190/

I'm in the wrong business.

 

[Dunnik]

He said the new car has a tape deck, and both of those do, of course, so yea, could be.

He needs to grow a mustache to own a Ferrari 328.

 

[ace10]

ACE10 APPROVES THOSE CLICKBAIT VIDEO TITLES!1!!11!!!

 

[Harv]

He fooled us all. Who knew a Gallardo had a tape deck?

 

[Dunnik]

Here we go

"Here's why you should NEVER buy a cheap used Mercedes"

 

[gsxr]

Wizard's prices were decent IMO.

FWIW, I think the rear end noise could possibly be wheel bearings, not necessarily the diff... hard to tell from the YouTube audio. Do they salt roads in Kansas? The exhaust heat shields had more rust than I'd expect.

From the comments:

​

Buys car for $10,000 ​

Car needs $6,500 in repairs ​

"These are worth $20-25k, I wonder if I should fix it??!” ​

 

[Jlaa]

C'mon guys, this is the cost of doing biz. Hoovie is in the entertainment business. Let's assume he has a marginal tax rate of 43%. (I'm just guessing --- this is federal and state tax combined). Since the car and the repairs are deductible against income, it means everything he does has a 43% discount.

If he's 30K all in with repairs, then what he's REALLY PAYING is 30K*0.57 = $17,100.

 

[gerryvz]

$6,500 is merely scratching the surface of deferred maintenance costs on a $10K car. Add $10 G's to that figure and you're getting into the ballpark.

I'm not going to put any money in Hoovie's pocket by clicking on that video -- as far as I'm concerned he can earn money the hard way if he wants to repair this car, but I'm not assisting him.

 

[gsxr]

$6,500 is merely scratching the surface of deferred maintenance costs on a $10K car. Add $10 G's to that figure and you're getting into the ballpark.

You gotta remember that he just wants to fix obvious bad stuff, not restore it to perfect. I bet he stays under $10k total from Mr. Wizard.

The radiator & ignition stuff should get it running nicely. I hope the Wiz knows to replace the insulators...

 

[gerryvz]

I'd bet you would do that work for a fraction of what Mr. Wizard would charge? Perhaps you should reach out to Hoovy.

 

[Dunnik]

YouTube comments be like,

"The 500e was from the era when Mercedes quality was at its height and Porsche's was questionable at best. I drive a 1993 W124 300e with 110,000 miles everyday. It is built to an incredible standard and requires only normal maintenance. The 500e has a Porsche engine, drivetrain and suspension. THOSE are the issues of concern, not the Mercedes components."

 

[gsxr]

I'd bet you would do that work for a fraction of what Mr. Wizard would charge? Perhaps you should reach out to Hoovy.

Nope, the Wiz quoted some downright reasonable prices, lower than almost anything I've seen from either indy shops or dealers. Only way Hoovie could save further would be if he used his "below average" DIY skillz instead of paying the Wiz. The commercials are true - nobody beats the Wiz!

Note that for DIY work, the parts would add up to well under $3k. The transmission is a wildcard, it doesn't necessarily need a full rebuild (not enough info to tell from what he's posted), but it's likely most people would just shell out the ~$2k for an exchange box from Sun Valley or wherever.

 

[Dunnik]

All in all, though, nowhere near as bad as I thought. Glad he's going to keep and fix. It's certainly more worthy to be in his fleet than some of the other junk he has.

 

[JC220]

All in all, though, nowhere near as bad as I thought.

Yes I concur! I thnik that 500E good buy. Heck, it even has at least the upper wiring harness and expansion tank replaced

I do wonder if the igntion missfire is the insulators issue we see here regular? They mentioned all new rotors, caps & leads but no mention of the insulators. But how will Hoovie or the Wizard ever know if they don't frequent the board!

And more importantly they will miss out on the all important Gixer input and guidance!

 

[JC220]

1 hour ago (edited)
Hoovie I'll give you $11k for it tomorrow. Seriously let me know. I'm not a YouTube guy but I'm a mod at Benzworld and will make sure it gets the right treatment!

Is Jayare trying to snag this 500E? Or that guy 126GuyMD over there?

 

[2phast]

Yes I concur! I thnik that 500E good buy. Heck, it even has at least the upper wiring harness and expansion tank replaced

I do wonder if the igntion missfire is the insulators issue we see here regular? They mentioned all new rotors, caps & leads but no mention of the insulators. But how will Hoovie or the Wizard ever know if they don't frequent the board!

And more importantly they will miss out on the all important Gixer input and guidance!

The Wizard is a generalist and probably not intimate with the 500e or its quirks, so its not surprising that he is not aware of the issues caused by the insulators.

 

[2phast]

YouTube comments be like,

"The 500e was from the era when Mercedes quality was at its height and Porsche's was questionable at best. I drive a 1993 W124 300e with 110,000 miles everyday. It is built to an incredible standard and requires only normal maintenance. The 500e has a Porsche engine, drivetrain and suspension. THOSE are the issues of concern, not the Mercedes components."

Thank you for the cordial post to that comment, I wouldn't of been as nice.

 

[Christian_K]

That wizard guy has not the knowledge we have here in the forums. 15 hours to get the transmission out LOL.
I saw many of the hoovies vids and even checked the wizards YT channel where he gave totally nonsense tips for buying old mercedes cars. He said the R129s are not recommend because of the leaks in the folding roof system LOL and much more nonsense.
He should bring the car rather to a knowledgable forums member and get it fixed.

Hopefully his wizard buys good quality parts at least. Especially with the ignition.

 

[gerryvz]

Someone should clue Hoovy into this thread here. or maybe he can ship his car to Jono to get right.

You guys are completely misunderestimating the repairs needed for this car. By an order of magnitude. Cheaping out is not an option with a 500E. We've seen this time and time again when people have tried to do so.

This car is going to end up being a sub-10K car soon, because Hoovy will dump some money into it, realize he's much further in over his head than he thought, and he'll sell it quick. To some other dolt with the same dreams, who will do the same thing to it. Put a grand or two into it, and it will be no better than it was.

This is a rolling parts car. Its' components need to feed the rest of the community. Its' wheels need to be tossed into the ocean (or placed onto one of JC's cars).

 

[Dunnik]

Someone should clue Hoovy into this thread here.

When he posted his first video, I sent him an email inviting him to join this forum. No reply. Possibly because he's deluged with emails. But if he's interested in knowing more about this car, Google will eventually lead him here, unless he thinks benzworld is all he needs or is just going to wing it with the Wizard.

 

[gerryvz]

Wing it with the Wizard !

Get to it with the Gixxer?

 

[gsxr]

... unless he thinks benzworld is all he needs or is just going to wing it with the Wizard.

I suspect he really doesn't care, and will wing it. All he needs is enough fodder to create more videos, clicks, and ad views. I guess there's a slight chance Hoov or Wiz might stumble across this site by accident on their quest for a replacement diff, which they haven't yet realized won't be quite as simple as it sounds (and, I still think could be a rear wheel bearing).

 

[Ntrepid]

Do they salt roads in Kansas? The exhaust heat shields had more rust than I'd expect.

Yup. Kansas is in the Salt Belt.


Robert

 

[Kyiv]

I'm not going to put any money in Hoovie's pocket by clicking on that video -- as far as I'm concerned he can earn money the hard way if he wants to repair this car, but I'm not assisting him.

Gerry, you are one stern American by this statement alone I can tell you're not a Democrat

 

[gerryvz]

My automotive benevolence is strictly limited to providing all of you with this forum. And maybe the occasional decent deal on parts.

 

[Dunnik]

This is why you buy a sleeper instead of a Lambo. Possibly would not have been pulled over had he be driving his 500 E.

You drove a Lambo 'cause it's good fun
You fought the law and the law won
You have a sleeper but it doesn't run
You fought the law and the law won

 

[gsxr]

I'm having shop envy. That shop/warehouse looks like roughly 200' x 80' or so? Drooool.

 

[Dunnik]

I'm having shop envy. That shop/warehouse looks like roughly 200' x 80' or so? Drooool.

Yes, prior to that the Wizard was in a small and dingy 100 year old blacksmith shop. A while ago he upgraded to this space, which was built in the 1960s to build bus transmissions or something. It is a very nice space. Hoovie's patronage probably had a little bit to do with the upgrade, as he is the equivalent of, like, 25 normal customers.

 

[Stevester 500E]

Wing it with the Wizard !

Get to it with the Gixxer?

Get it to the graveyard with Gerry?

 

[Stevester 500E]

Nope, the Wiz quoted some downright reasonable prices, lower than almost anything I've seen from either indy shops or dealers. Only way Hoovie could save further would be if he used his "below average" DIY skillz instead of paying the Wiz. The commercials are true - nobody beats the Wiz!

Note that for DIY work, the parts would add up to well under $3k. The transmission is a wildcard, it doesn't necessarily need a full rebuild (not enough info to tell from what he's posted), but it's likely most people would just shell out the ~$2k for an exchange box from Sun Valley or wherever.

View attachment 85687

I agree, the Wizard's prices weren't bad, except for the R&R of the transmission.

 

[gerryvz]

Get it to the grave yard with Gerry?

Uhhh yeah, because after 16 years of owning my E500, it's on its last legs and should be in the automotive graveyard -- ?

 

[JC220]

Another video which features this 500E briefly from 11.20 onwards

 

[2phast]

I knew this was coming, "$5500 just to get it back running on the road"

 

[gerryvz]

That’s just to get it rolling again. Another $10K on top of that to get it reliable and take care of the niggling problems will be about right.

People think I’m being a troll with these $5K, $10K (and in the case of this car, $15K+) numbers.

I’m not.

 

[TerryA]

The Wizard’s shop looks like an airplane hanger. From what cars he has in there he will tackle just about anything.

I’m not familiar with Tavarish seem like a knowledgeable guy. He tried to buy the 500E but Hoovie said he wanted to “KEEP IT”

Interesting