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I had a 2000 E320 wagon which suffered most of the above symptons at the 110k mark. A 160k car may have been sorted. Great car but expensive to fix in the shop. Mine suffered the oil leaks, vague steering, and cat problems. I am in Texas so luckily no rust, but I am originally from the UK where I have seen 210's in the scrap yard at 10 years old due to corrosion!
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