My next door neighbor recently got in a minor fender bender on the freeway, and to his surprise the insurance company totaled his truck.

Even though the truck was easily repairable, the estimate to fix the damage and repaint was more that 75% of the value.

He ended up buying the truck back for around $800.00, and he used the check from the insurance company to fix the car himself. the only negative is that you have a salvage title which kills the value of the car. He then had to re-register at the DMV, got a new pink slip which says "salvage title", and got a new license plate number. He had to get it smogged at California inspection station (not your local garage) and paid an arm and a leg. He also had to get the headlights inspected at a state certified inspection place.
It was a lot of trouble, but he got his truck back, got it fixed, and had money left-over.

But his car had minor damage. If your car really is "totaled", then I'd take the money and run.

If you like W126's, why not get an 86-90 model?

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Paul S.

2001 E430, Bourdeaux Red, Oyster interior.
79,200 miles.

1973 280SE 4.5, 170,000 miles. 568 Signal Red, Black MB Tex. "The Red Baron".