1994 E420

Its been in once accident, the previous owner (I assume was drunk.. really unpleasant man actually) hit a curb bending the wheel and breaking the front spoiler in two spots.

The issue is the neutral position of the steering wheel is a fair bit towards the right. If I let go of the wheel the vehicle will quickly move off the road and into the ditch.

Sounds like he bent more than the wheel, you should have your front suspension and steering system checked as soon as possible as you probably have a bent tie rod which will need to be replaced and the tracking reset. Hope it's no more than this but get it seen to ASAP.
Geo.

Ouch... well I'm glad I asked. I'll call the shop.