I have a 1987 560SEL. 321,xxx miles. I'm the third owner and bought it with 305k on it. Car looks and runs pretty well. Bought it off brother-in-law who is a business real estate broker. He put about 160k on it and had it maintained by a local independent shop. I credit him and them with it lasting so long. I think the only major work that has been done on it was a new timing chain about 16 months ago, shortly before I bought it. I live in Cincinnati and they use a lot of salt around here in the winter (lots of hills). Body looks pretty good , just a few rust spots. Biggest thing is a small dent in hood from a golf ball at the country club. I suspect I will have to put a transmission in in the next year or two. It is a bit slow going into reverse and I hear that is an early sign of trouble. I am starting a fund for that. Sometimes I wish I lived somewhere that Ii could really take advantage of the high speed cruise potential of the car. It will jump from 65 to 85 so fast it'll scare ya, and really it is still loafing!
Just little dumb things have had to be replaced. A power steering hose, a battery, idiot bulb in shifter. Current project is replacing front suspension components. They are getting pretty old and worn. I need to put in a new OVP relay. I fully expect this car to make 400k+, maybe 500k.