Looking at a 500E - How much should I pay? - PeachParts Mercedes-Benz Forum

Holson Adi · #1 11-04-2002, 02:55 PM

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-

suginami · #2 11-04-2002, 04:32 PM

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.

suginami · #3 11-04-2002, 04:34 PM

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.

tom woolner · #4 11-04-2002, 06:39 PM

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.

Holson Adi · #5 11-04-2002, 08:52 PM

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?!@#

)

suginami · #6 11-04-2002, 08:53 PM

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

Holson Adi · #7 11-04-2002, 09:04 PM

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

suginami · #8 11-04-2002, 09:08 PM

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.

New2Mercedes · #9 11-05-2002, 03:39 PM

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!

tom woolner · #10 11-05-2002, 05:56 PM

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

Mark Herzig · #11 11-05-2002, 07:27 PM

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.

E DREAM · #12 11-05-2002, 08:54 PM

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

Holson Adi · #13 11-06-2002, 06:01 PM

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

yhliem · #14 11-06-2002, 08:20 PM

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!

Dcraig · #15 11-07-2002, 02:33 AM

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