I'm looking for a w114/w115. Preferably a diesel, manual 4 or 5 speed. It'll be a light driving car (~3000 mi/year) as I commute primarily by transit or bicycle.

My research suggests I can find something like a '75 240d in good to excellent mechanical condition and okay to good cosmetic condition for around $3,000. I'm budgeting a total of $6,000 for the purchase price plus 3-4 years of maintenance and repair.

My questions: 1) Does this seem like a reasonable budget? 2) Should I be looking at gasoline engines as well? I'm not opposed to them, but from what I've read the diesels are more reliable; 3) Am I foolish to hold out for a manual? I won't be driving often, and I've seen several automatics that otherwise fit my criteria locally (I'm in southern California), but experience tells me the stick is more fun to drive and a lower risk financially.