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Sleeping Beauty or Potential Nightmare? 560SL
Hello Friends,
You know how it is when you love these cars... Two is not enough.
Someone I know has a 1986 560SL in storage that was totalled with about 20,000 miles from a rear end collision that bent the frame. It has been sitting since 1989 waiting for someday, and the owner has never found the motivation to "go for it" and start the project of his dreams. The frame was bent so the insurance company and the owner settled for a payout rather than repair it. He could never sell it. But he is finally letting go of a lot of stuff like this and simplifying his life.
My imagination and sense of adventure are compelling me to consider this one. The interior and engine could be swapped into something with high mileage that was loved and garaged with no rust? I found a car on Craig's list with 200k mileage in California for $5,000.00 that is original owner and garage kept. That would be appear to be a candidate for an almost new drivetrain, front suspension, electrical system and interior.
The craig's list car looks very clean and probably has never spent a night in the weather. The interior is showing patina with its age but still clean. With 200k miles, the mechanicals will eventually if not already start failing, one part at a time. My perception of the risk to purchase and drive the 200k car as-is (and fix it as it breaks, one part at a time) is very high. I would not go do it.
I also saw a beautiful car (150k miles) on Craig's list for $8900. The owner has spent $12k on repairs over the past 5 years (though he has driven it only 5k miles during his ownership). He bought the car 5 years ago probably for $10k and then put $12k in repairs over 5 years. My read of market conditions puts the car's value at $5k to $6k with $12k receipts notwithstanding. So his ownership experience has cost him $17,000.00 and he still has not felt the final sting when he accepts the reasonable offer of market value to sell the car. I don't want to go down that path. His car is pretty, but that car is probably going to be a constant project for a potential owner.
My concern with the low mileage wreck is the amount of time the motor has been sitting. He tells me he prepared the motor for a long nap. What problems could I encounter when this motor is started? What about the transmission? Surely there are steps that I can take to minimize the risk changing the oil before starting it. The possiblilty that the engine could start leaking from every gasket or grown some crud that is not apparent without tearing it down makes me pause.
Also, the car will not be a 20,000 mile car when I am done with the project. It will be a car with a story and parts that have low mileage. I could wind up with a car that I have spent blood and treasure on, that is like herpes to anyone considering the car when it inevitably becomes time to pass it on. If I have learned nothing else from my years of car ownership, it is that every car new has a time to come and a time to go.
What do you think? Will this type of project create value or waste time and money? You can imagine the dreams and nightmares that this represents. Has anyone here done this type of thing? Is it a foolish and regrettable errand or an opportunity to accomplish something worthwhile?
Thank you in advance,
Jeffrey
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