Would you - New Car with payments or restore/semi-restore your Diesel ?

[AdvisorGuy]

I was talking to a close friend a few nights ago while I was driving a customer's Audi A3 home from work. As we were talking - my stating that I may find myself a certified S4 2 years down the road - the EPC light came on and the car could barely maintain 60 mph in 4th, 5th or 6th gear. This being the 3rd time it's happened to the customer. My buddy said something that I can't get out of my head. And I quote:

"Why the **** would you want to get something newer ? If that 1 year old Audi was MY car, and I gave it to you to drive to Texas instead of your 24 year old 300SD, you'd have been stuck in Tennessee at 3 am and would have called me to tell me you set my piece of **** car on fire. If you really have the need to get a new car, sink $20,000 into that car and restore it. Hell you could probably make it look like new for $10,000. Don't be stupid like me. Anything happen to your diesel besides the junk yard a/c compressor seizing after driving it for 27 hours straight ? No. Don't be stupid."

This begs the question - Would you do what Elais suggests ? I'm seriously considering it. The car needs paint - what gray anthracite Benz doesn't. Rust exists at the right tail lamp, a 4 inch stretch in the left trunk channel and under the rear glass. I got a quote of around $6000 to rectify all that with repainting the whole car and replacing the rear glass. Think it's safe to think that I can redo the dash cap, wood trim, headliner, package shelf, door panels and seats for around $4000 ? More ? Less ? The carpeting is in good shape - maybe just remove it and clean it while the interior is being done. I'd do as much of the work as time and space would allow me to. The car just turned 241K and only has a few minor mechanical issues.
-Snapping sound from left front when I come to a stop
-Left Rear wheel bearing noisy sometimes
-Fuel & temp gauges sometimes dancing around
-Tach intermittent
- Sunroof sometimes binds - rectify that when replacing the headliner
-The aforementioned siezed a/c compressor

On the PLUS side - the clock hasn't worked since I got the car. Since I've been in Texas, it works. And I thought Christine was a '57 Plymouth Fury...

Not sure I would do a full-on restore of any older Diesel MB. I can't see it being a sound financial decision to actually restore a car that isn't realistically going to be a collector vehicle.

That said, new cars are NOT for me. Depreciation expense is a *****! The saying that "the quickest way to the poor house is behind the wheel of a brand new car" holds a lot of weight, at least to my mind.

A full-on restoration of a W126 Diesel would have to cost close to $20K, but I'll bet you could put $10K in it and drive it for ten more years. Ignoring the time value of money for the moment, $1K per year (plus a bit for routine maintenance items along the way) is a pretty bloody good deal, at least to my ears.

[AdvisorGuy]

I think you're getting the wrong impression. I'm not talking about a Concours restoration. I'm talking about freshening the car up and driving it for another 5-10 years.

[123Guy]

Financially, my wife and I can drive whatever we want, but choose to continue to drive the 300CD and 300SD that we bought new - why?because I don't think MB or anyone else has built a better car since. We also have a much newer Land Rover, but when we decided to drive from Fort Worth down the Rio Grande this past week (over 500 miles each way), guess what we drove - my wife's 300SD - maybe the best S-class ever built. The new ones are nice, but they will be "used car nightmares" for the second or third owner - unlike the 123 and 126 which can be worked on by an average backyard mechanic.
I've put some serious pesos into the two cars over the years, but nothing that adds up to a car payment on a new MB.
If you like your 300SD, spruce it up and keep on driving it - if you take reasonable care of it, you won't find a better car or a nicer car to take on an extended drive.

[300SD81]

Restore, definitely, but restore for mine would have to be a new body and an engine swap, the rear end is completely dented in and rusting out. After college, I'm definitely going to be doing it, and then restoring and upgrading. I'd rather drive my SD than a new car any day.

My mistake. A $10K freshening should allow that vehicle to last at least 10 more years, possibly longer. That is what I'd do.

My stance on new cars may be put to the test if the new C is made available w/ the Diesel in the US. If that happens, I might buy one and endeavor to keep it for 20 years.

123Guy - I am in the same boat - a "suit" who insists on soldiering on in my CD. My colleagues think I'm nuts! ;-)

300SD81 - if you really want to restore a W126, find one without the rust issues. I doubt you'll want to deal w/ those issues.

[sixto]

Another $1000 in parts and tools to replace the suspension bushings. That clunk when you come to a stop is most likely worn guide rod mounts. One of the few jobs worth paying someone $100 an hour, IMO.

I hesitate to put more into a car than I get get back if it's totalled since I've been stung by that bee. You'd better get stated value coverage for your car after the restoration/refreshing.

Sixto
87 300D

[Stevo]

That is exactly the dilemma...Do I buy a fairly newer car and pay too have it fixed when the need arises or find a good old car and learn how too keep it running myself. If you go for the "old" car the Diesel MB is the only choice IMHO. When I retired I bought a 79 240D and after driving it for 6 mos decided to spend the money on rebuilding an engine for it, which I did with a little help from my friends. I have two 240D both with 5 spd trannys and I've spend the money to get both cars in top shape. I have loads of spare parts (and a bunch of parts cars) and know how to fix most things that go wrong. I bought a new diesel Rabbit in 81 because we needed a car fast, never again with the new car

I dont think it would be wise too start with a rusty car, its the gift that keeps on giving, its hard enough to work on a car without fighting rusty nuts and bolts.

Fix up the old one. You can spend $10,000 on a $2,000 car and still be $10-20,000 under the cost of a new car.

[pj67coll]

I'm in the same position in a way. I've driven old Mercedes Benz's most of my life. If there is one car that can be used as a daily driver no matter what it's age with intelligent maintenance Mercedes are the ones. But of course that stops with the 124, 126, 201's in that respect I think. If you have enough money that you can afford to drop 10 to 20 g's into an older Mercedes then you are probably in a position where you have more cash lying around, or access to it, than the average person. Just how far would you get asking for a bank loan of 20 g's to make your 30 year old Mercedes a daily driver for the next 20 years? If you are not so well heeled then it might be a moot point as you will have to have some form of reliable transportation and if you don't have that kind of money to drop up front you will have to get a loan which essentially means a new car. I guess what I'm getting at in a round about sort of way is that if it were me and I had that kind of money to spend I would probably do so in restoring a 126 300SD rather than buying something new.

- Peter.

[Matt L]

If you fix up the old car and it gets hit, you will come out behind. But when you weigh that against the cost of a new car and the average time that you can drive the old cars, the old cars come out very much ahead financially.

You take a small financial hit if you get tagged in the nice, old car. You take a big financial hit when you buy a new car. Even if you do get hit early in a new car, you're likely to come out few grand behind.

[lutzTD]

its a great idea, but dont be too attached to the one you have if its even questionable underneath for rust or damage. if you are serious take some time and find a good starting point, one with low miles and very nice all round condition then freshen it up. I know a lot more about these cars than when I started, if I chose to sink a lot of money in one instead of new I would make sure the car is pretty good to start.....

[TheDon]

All I need is paint, AC, and cruise control and I will be set for another 10 years..


and stupid little things here and there

If I had the money I would go all out for a concourse restoration for my car and just drive another W123 .... A trailer queen W123 is a dream

[crashone]

If I could I would do a total strip down and clean up/ fix it all. Buy a new long block rebuild the IP etc and have a sweet ride that I know will last. Not only will it look good and ride good but the style of these 126's hasn't gotten old yet. At least to me. Oh well, maybe when the lotto hits.

[toomany MBZ]

What would be the cost of any new vehicle that you can drive on a regular basis for 20+ years? Yet, you need to factor in advances in safety equipment, etc. me? Restore!