Looking at a 500E - How much should I pay?
 

Hi everybody,

I'm looking at a 1992 500E (if it's not sold yet) with 55000 miles. It's pearl black with grey leather interior.

The condition is superb with only the arm-rest being rather ugly. The padding below the top leather surface had disintegrated at one point or something. But that's not a big deal.


The engine bay is clean, the interior is very clean, the trunk is too. It's all original with a Mercedes CD-Changer in the trunk.

Some maintenance records showing oil changes, brake work, etc.

I'd assume that 55000 mi. is pretty low for this car? Does it also have an evaporator problem like the other W124's?

Asking price is $29999 and Carfax is clean and all the body panels are straight. The engine started easily too.

Any words suggestions, things to think about, etc. would be appreciated, Thanks!

Yeah I know it's gonna be a completely different animal to the slow, noisy, 300CD-T.

-Holson-

I look at prices on Mercedes nearly everyday in the L.A. Times, and I notice when a 500E is for sale and what the asking price is.

The price doesn't seem too bad. '92 is a sought after year, and the mileage is low. However, age is just as important as mileage, and we're talking about an 11 year old car.

I saw a '93 in the paper today for $24,000.

I'd offer $25,000 and see what the seller does. You have nothing to lose and everything to gain. Remember that this is a special interest car with a rather limited following. Most people don't even know they exist.

Oh, regarding evaporators, although some have gone out like any other MB model, they don't have the systemic problem that the early W124's had.

From reading the posts, I have the general impression that MB turned the corner on evaporators around '89.

Also, an evaportor replacement will run you the cost of the evaporator, and 21.5 hours labor. You would also probably replace all of the vacuum actuated valves in there, too, once the whole dash is removed.

There is a 94 E500 with 75,000 miles, excellent condition, 17" wheels, new tires, for $24,500 in today's SF Chronicle. It has been in the paper for awhile, price has dropped from $26,000 I believe.
Check Autrader for comps.
These cars are hard to finance, the older they get, so the price should reflect that, as well as many other factors.
There should be NO worn upholstery with 55K miles, in my humble opinion. Make sure you get the car CARFAXED to be able to be sure about the mileage.
And, a PPO.
Tom
92 500E w/ 17" AMG wheels, all options great condition.
paid $19,500 this spring w/96,000 miles.

The mileage is accurate, I ran carfax through it. There isn't anything else worn out in the car except for that armrest. The front leather seats are perfect and still smell like a new W124.
The backseats don't seem to have any wear mark at all. If I do get it they will probably stay that way...

When I finally decide to get it, a Pre-Purchase Inspection will be done beforehand.

I'm wondering though.. should I take it to my mechanic (I trust him a lot and he's worked on all sorts of European cars.. Porsches, Ferraris, MB, BMW, VW, etc.) or should I just bring it to an authorized MB dealer closer to the 500E-selling dealer.

Do you guys think an aftermarket warranty for 50,000 miles is worth the money? ($100-200 deductible?!@# :eek: )

How much will the 50,000 mile warranty cost you?

I think I'd be looking at $1800 or around there...it'd be handy if I blow a transmission or destroy the rear end.. or blow an engine :p

Man, I'd pay $1,800.

That would cover one major failure, such as a/c evaporator, transmission, head gasket, engine wiring harness, etc.

Definitely worth it.

I would also recommend the warranty BUT what I'd recommend even more is reading it for EXCLUSIONS. It appears from what I read its an aftermarket warranty NOT Starmark. Starmark is very detailed in what they cover and what they do not just make sure that what IS covered by this warranty is worth the 1800 and where the work is warranted at...IOW...can you bring it to ANY MB dealer/Indy or do you have to use their recommended shops and get estimates etc etc.

CarFax is a start but see about pulling a VMI on the car from your MB dealer thats also a good pulse check on the car. Lastly, YES, by all means take it to your mechanic or someone knowledgeable on MB and especially 500's, if possible.

I love my 500 and wouldn't trade it for anything. There are a few websites devoted to 500's if you haven't seen them I suggest visiting them for more information to aid in your decision. If you need them let me know and I can forward what I have accumulated to date.

Good luck!

I agree with Michael. Make sure you know what is excluded. I have $50 deductible warranty that has so far replaced an alternator, but does not cover some front end parts I need. Also, you will pay the deductible on every repair needed, regardless of whether it is in the shop only once. They are good for peace of mind, however, although you will probably break even. Also, how many years are covered for that 50,000 miles?

Tom
92 500E

don't pay over $23,000. IF you do not have 100% pristine records, don't pay over $21,000. You're gonna spend $2000 - $6000 to get it back to condition IF it has not been maintained.

Holson
 

I would suggest that you make an appointment to have the 500E inspected thoroughly by a mechanic you trust highly, and has experience with this car, the 500E. Then call the dealership selling the car and tell them that you want to have the car inspected by your mechanic. They will not have a problem with this because they want to sell the car to you. Then offer to pick the car up at the seller's place and DRIVE IT YOURSELF to your mechanic. This will give you ample time to experience the car first hand. This will also get the car up to operating temperature which is very important. When you get to your mechanic's shop be sure to have them put the car up on the lift while it is still hot. Then inspect the undercarriage and ALL mechanical components with your guy. Dont be affraid to ask about anything you do not understand, most of these guys are glad to share their wisdom. Spend about 1 1/2 HR.S doing this, it is very enlightening even if you do not intend to work on the car yourself. You will get to KNOW your car and its condition thoroughly. This is time well spent. It will also put you in a much better position to negotiate the amount you will offer the seller. No matter how well the car presents itself, it is after all 11 years old. ALL used cars will need something, better to find out what it is BEFORE you buy. Any surprise after you own the car is still a surprise, and the rule of thumb is that people generally dont like surprises. You want to have a good experience. The 500E is a great car, learn as much as you can before you buy. If this one does not FEEL right then PASS on it. Another one is just around the corner. As the saying goes, The MOST EXPENSIVE BENZ IS THE CHEAPEST ONE !!!!!!

GOOD LUCK & HAPPY HUNTING ;)

This car probably won't sold so soon.. but if it does then it's not supposed to be mine that's how I look at it.

Thanks for all the suggestions. E Dream, I'd follow your suggestions when I did buy the car! Great suggestion.

I just came across a 1993 400E for $9000! That is cheap. It has 135000 mi. But then I really agree that the cheapest benz is the most expensive.

I will go and have a look at it.. it might impress it might not.

Thanks

tough question to answer.

the 500E/E500 is a limited production, specialty car and is not subject to the regular variables in determining the price of one.

steps to take/things to consider:
- have a PPI done by a trusted mechanic
- do your research: find as many articles and talk to as many people as you can. a forum such as this is an excellent start.
- beware of people's opinions. everyone's got one and almost every one is different
- check the auto trader, ebay, or any publications that may list a used 500E and get a feel for the condition, mileage and associated price. hennings is a good place to start.

areas you'll ned to check for possible repair expenses:
- steering and suspension components. most notably the rear suspension bushings
- timing chain. should be replaced every 100,000 miles or so
- any high wear components in the driveline (flex discs, bearings, etc)
- condition of SLS

and of course, the usual caveats of buying a used car apply.

Keep in mind that because of it's speciallized status, a 500E is worth what the market can bear. The value/price of these cars will vary somewhat with the economic climate. try and find examples outside of your immediate area to use as a comparison.

good luck!

IMHO, I wanted an E500 but couldn't part with the $30-35K for one that I wanted, so I bought the next best thing, an E420, and I paid only $16,000. Add to that $1200 for AMG rims and tires and $1500 for a 2.82 rear end from BergWerks and I have a W124 that will be just a few 1/10ths of a sec behind an E500.

I could be happier, well maybe just a bit if I had an E500, but pretty damn close, and I have $15,000 still left over.

Craig

If you'd like an aftermarket warranty that is awesome...try Accel out of Texas...a friend of mine with an Audi S6 with 100,000 miles had over $9000 of work done over the last 2 years from a plan that costs $1800/yr. I'm all over it and it covers an amazing array of components...most all of which are common to fail on the 500E. For example...it'll cover my T-chain even at 135,000 miles; also the A/C evaporator. Those two alone are worth a kidney....or a ball.

Holson...personally I wouldn't worry about not having stellar records on a car with that low mileage...most any used car will need something sometime so be prepared. Generally...if you can afford to buy one; you can afford to fix it too...but of course, there are exceptions to everything!!!

Have a MB dealer do the inspection too...not that your indy wouldn't do a good job but the dealer knows best, usually, on these cars.

Its a great (buyers) market for these type of cars so now would be a good time to grab one...IMO.

I just checked out a Starmark'd 1994 E500 from the local MB dealer. When he took it out to show me I guess it hadn't been detailed so it wasn't that great a first impression.

$35,000 asking price
38,000 mi. - claimed to be original
one owner

Things wrong when I first saw it (didn't get to even start the engine/drive the car.. the guy was giving me attitude)

1. Scratches? Cracks? in the driver's seat leather. He told me he'll color it up. Pretty well used rear seats.
2. Pretty well used cigar lighter (dont know what that means.. :rolleyes: )
3. cracked shifter surround wood (told me that it'd be replaced) and cracked rear bench center wood.
4. Brandeis U. Parking sticker... could mean a thing or two. Student owned or owned by a prof.
5. Used spare tire
6. Wrong size winter tires (235/60/16s) - They were so ugly and they rubbed against the plastic trims around the wheel wells.

What do you guys think?
I'm sure after they fix it up it would look awesome.

The problem is that the 1992 500E (first one I saw) was soo immaculate and original (unused spare tire w/ the original Pirelli tire) that this one just looks a little worse. Especially the interior.

But the warranty is more attrractive.

Huh, I thought the '94's weren't able to be Starmarked anylonger. I thought they were beyond the time limit.

Craig

The car sounds awful from your description, well below average.

I would question the mileage considering the wear and tear. Cracked wood in the front and rear? Worn rear seat? These are such expensive, special interest cars, what was somebody doing abusing the back seat?

And wrong sized tires? Sounds like the owner just didn't care.

You can find 500E's advertised in So. Ca. in the low twenties pretty regularly now. You could save at least $10k by buying smarter. Is a warranty worth that much?

In the low $20's?? Find me one! I did a search on AutoTrader and didn't see any 94's on the West Coast.

Craig

94's are harder to find, and may bring a premium over '92 and '93's.

I find them in the L.A. Times classified section. Next time one is listed, I'll let you know.

Thanks. I usually look in the Times every weekend, but haven't in the last few.

Craig

hhmm, yeah when I saw that car I didn't like it right away (tires, interior).

I mean for a 1994 I can't believe that the interior is no nicer than my 83.

The owner probably bought it just because he wanted a top of the line E-Class back then. It was traded in for the new E500.

The car was dealer serviced though (by the same selling dealer) and was originally sold by them too.

I also saw some oil around the engine.

I really liked the 1992 that I first saw. it was so immaculate that I couldn't believe it was used. The engine bay was so clean I would put my sandwiches on the engine. The interior was just perfect and smelt new.

NADA is $33000 for high retail so I was thinking that the asking price is close to correct.

Well... I think of it this way. If I had come in next week they would have detailed and serviced the car by then and I would've missed all these 'wrong' minor details.

sigh.. I thought I had found my 124-500E when I heard about the 94.

Also the vinyl covering the door map pockets is coming off on both doors. (Common problem?)

The car is obviously winter driven as I could find 'some' rusted out bolts, etc. It has always been a MASS. car.

The 1992 came from PA. and I'd assume less salt and that one had no rust to be found.

And MB Starmarked this car??? Hard to believe. My '94 E420 was PERFECT and the MB dealer put $3,800 into it before I bought it fixing a lot of small things. The car was 200 miles over the 90k limit, and it couldn't be Starmarked.


Craig

HOLSON!! caution with Chambers of Horrors
 

Dems guyz is bandits over there.

Ask them if you can take the car to your mechanic. If they agree, take the car to FMW in Natick. Call the service department and ask to speak to Paul Lucier. Tell him you want to bring in a '94 and get a price on restoring it to Pristine condition from a body, mechanicals and interior standpoint. Paul is a MM and also owns a pristine 1994 E500 so he will know what to look for. While you have the car there ask him if you can see what he sees when he pulls the history on the vehicle. Also, pull a car fax on the car to see what the milage was each year since the vehicle entered service. It is possible that if it is a one owner car, the guy pampered it for the first few years and just recently started driving and dropping care for it.

Tom

What does that matter if MB is giving the warranty? They'll fix everything, right? Just be really picky.

I think -fad has been able to get more done in repairs than he paid for his car.

Craig

RE: Starmark warranty claims covered more that what I paid for the car

That is true on my 1994 E320 coupe; have owned for 4 years.


-fad

good for you fad-

See you Sat.

Craig

Craig! You're coming up to the AutoFest? Cool! See ya then!

Best regards
-fad

Hello Adi, yes the slow removal of the vinyl covering the map pockets is a common problem. I noticed this on a lot of E Class's. I just mentioned this in another thread

fyi-

the high perf vinyl on my front map pockets are 100% in-tacked (attached) no peeling whatsoever (both sides- driver and passenger)- - did a close visual and tactile inspection 2 weeks ago

...mine has been a pure (SPF-100) garage queen though- - prev. owner hardly never ever drove the car! (current owner is in the same school)

-fad
'94 E500 (42.3k)

Fad,
Why don't we trade cars for s few weeks? I know that in your obsessive/compulsion for perfection you would just HAVE to clean up all the little things I have not gotten aroun to with my 500E.
Kidding aside, you havfe probably the nicest 500E I've ever seen.

After hearing about what's around, I feel really lucky that I got as nice a car as I have for the price I paid. I wish I was as obsessive as the PO.

Tom

Are there going to be any off the line straight 0-60 tracks we can test the cars on? I'd love to see how my "E" will do with the new 2.82 rear compared to you guys E500's. Should be a very close race.

I guess we could always use the SJ freeways.

Craig

NOW WAITTTTTTTTTTTTTT A MINUTE
 

I am thinkin of having your name removed from the Hall Of Fameous Tom owners of the 124-036 series.

FYI - fad's daily prayer is that I run my E500 into a wall so that he can claim "Best Kept 1994 MB E500 with mileage under 37K"

TOM

PS Keep this post between you and me cause he gets jealous when he sees my 'chine.

Not finding any nice 500E's I stumbled upon this car and went to check it out today.

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=1873515061

Great guy (the seller)! I used to do business with him (not car sales though)

The car was so clean and I would be hard pressed to believe that it had 105000mi. It is even cleaner than the 1994 E500 and generally in better condition. Perfect maintenance record and everything. The interior is as clean as it was new!

Fully loaded too..

hhmmm... sure it's no E500 but it's a coupe :p and I have something for coupes.. we'll see.

I'm going to NYC tomorrow so I won't be looking at it til Friday.

Happy Thanksgiving everybody.

:) - - you fellas are cracking me up~!! :)

Tom W.- thanks for the compliments on my e500, surely only a deranged obsexxive compulsive sicko would have done the things I've done to the car! (need help pronto!!!)

And, thanks for offering to trade cars- - - but you'd just be fueling the obsessiveness and I'd enjoy the week! Your's too is a mighty clean example. I'm hoping that mine will be as clean and tidy shape as yours when it crosses the 100k mark.

TomE500- how are ya? and hope you're doing fabulous! I strongly suspect that there are at least 500 North America 500e/e500's (out of the ~1505) that perhaps fall into the super low mileage mint smells/ looks/runs "as-new"...so we're not quite alone by any stretch of the imagination. Food for thought- around my neighborhood nearly every garage contains some type of special interest/ collector type vehicle stored within....and some garages have more than one inside!

...and really Tom!- how could you realistically run your E500 "into a wall"- when it never moves from the garage!- LMAO (Thanks again for the wheels, they are on my car now).

Dcraig- straight line racing? 0-60mph? 0-155mph? 100mph-155mph? Me thinks that this may not be an officially planned activity for the Autofest nor a sanctioned activity- - but....we'll see! (at your own risk, I suppose). I've generally observed that there is an abundance of testoserone around mixed with a slim amount of skills&experience and an even scarcer commodity of common sense. I mentioned to Elena this AM that we'll be seeing ya again.

Re: SJ freeways, Craig- fyi- I spied a "marked" Santa Clara PD yesterday w/ cherries on top on the highway : Black and White- - CORVETTE! Keep your eye out for this and plenty non-marked White late model Camaros (no cherry on top)- & Mustange 5.0's of the CHP.

Re: SJ freeways.

That's a bummer. Glad I haven't seen any of those down here, yet. Was it SCPD or CHP? Might change my driving habits for the drive up.:eek: Just kidding.

I usually wimp out at around 60. I don't think I can get a ticket if I keep it at that speed.

Craig

Craig,

I assume you live in the SoCal area. I'm surprised you haven't seen these new CHP cars around. I've seen several Camaro's lately and I have to say the Caprices/Bikes have been out in full force lately. I even saw a Volvo in full black and white dress with a cherry on top.:eek:

Has anyone else noticed a greater presence of CHP?

By the way, I also haven't seen any cracking of any vinyl on the interior of my car. Now I just have to figure out how to take care of the chips on my car.....me thinks Fulgence needs a little competition (Yes I have this obsessive compulsive disease too:D )

Craig
>Corvette= SCPD
>Camaro, Mustang= CHP

Ahhh, see here in Santa Barbara most everyone drives like an old lady, so we don't have those here. Lucky me.

Craig

Craig- Santa Barbara's CHP actually has a new *white* Camaro doing patrols, esp. on 101 and the 154.

:-) neil
1988 360TE AMG
1993 500E

Darn, there goes my fun:(

I hope you don't know that from first hand experience.

Craig

There are two E/500, 500E's listed in the classifieds, Mercedes Enthusiast.
91, w/110,000 miles, lhd, 5500 pounds
94 Limited, 24,000 pounds
1.54 pounds to the dollar.

The limited sounds a bit overpriced, for European market, but the
91 sounds right in line. I can't believe how much we pay for our cars here.

Tom

Please check out the flawless mechanical, cosmetic, and maintained 1993 500E in Spruce Green and Parchment interior, I'm posting for a reclusive friend. 51K miles, all books since new, and ALWAYS maintained by the SB dealer (Cutter Motors). He's firm at $35K.

Here's a preview:
http://www.silcom.com/~neilv/CL-500E...s/DSCN3162.jpg

http://www.silcom.com/~neilv/CL-500E/FrameSet.htm

http://www.peachparts.com/shopforum/mercedes-benz-cars-sale/49734-1993-500e-1-owner-51k-miles-post299663.html#post299663

:-) neil
1988 360TE AMG
1993 500E

Thanks for the offer Neil, but the color isn't my favorite....

Anyway,

I saw a 1993 500E advertised for $25k.
The owner is a manager for the local Mercedes-Benz dealership. He told me that it had been starmark'd and it's now out of it. However he had Starmark do a whole lot of work to it according to him. He mentioned two pages worth of work. Full service records, and he's the 2nd owner. He bought it from his friend.

The car has 89k mi. A little high for my taste but if it is as good as he says then it might be worth it. It's got snow tires on..I won't drive it in the snow but I'll use them until summer then I'll get some proper tires.

The dealer also has a Starmark'd 94 E500 for $35k. However that car wasn't in that great a shape when I saw it. He claims that his car is in much greater shape. It better be :D

The car has had some of its panels repainted (due to some acid or something?)

Now... how should I deal with this one? Have his dealership inspect the car again or take his words?

The price seems right to me. Maybe I could buy it for less than asking when I decide that it's the right car...

Man when it rains it pours.. I never thought I'd find 500E's after 500E's for sale... yet I don't see them on the road...

BTW it's a silver/charcoal car. Nice color combo... and I like the pre-facelift model better. I hope this one hadn't been modified..

Whatever you do, do not take his words and get the car checked by an independent mechanic.

yeah that's what I'm thinking too. I kinda wanna take it to a dealer though. Maybe I'll do what Tom said and take it to Foreign Motors West (it's pretty damn far though)...

However the owner is a manager for Herb Chambers... what do you think Tom? Can I trust the service department of Herb Chambers to do a fair inspection of the car?

Whether it's too far or not, it's probably not that far when you think about the $25,000 gamble you might be putting out...

That is true... well I'll do that then. I just hope the guy doesn't get offended :p that I'm taking it to a competing dealership hehehe

I'll update this tomorrow after I see the car. I probably wouldn't take it to FMW tomorrow though. Until I think the car is worth it just by looking at it.

At FMW, a 500E Brother is a tech there-Paul Lussier. Drives a '93. Exceptional tech - I'd request that he do the PPI:D