The E500 was available in the 2003 through 2006 model years. In 2007 it was replaced by the E550 through 2009. The E500 uses the trusty old m113 v8 engine family and 722.6 5 speed automatic transmission. The E550 replaces those with the m273 v8 (with 385HP!) and 722.9 7 speed automatic.

Model years 2003 through 2006 have the SBC brakes. Although generally reliable, expensive repairs are possible. As part of the facelift applied in 2007, SBC was removed and a conventional anti-lock brake system used.

All E500/E550 models have airmatic suspension. Airmatic uses air springs with automagic damping and ride height control at all 4 corners of the car. The air struts don't last forever. Sometimes they develop a slow leak, where the car will settle over the course of a few days. Sometimes they pop. Replacement at dealer parts and labor pricing is quite expensive - perhaps $5K for all four corners of the car. An aftermarket alternative is Arnott industries - they have many fans among AMG owners.

Otherwise, an E500 is pretty much a well optioned w211. Which is to say a darn nice car, albeit one that is complex and hence can cost a bit to maintain and repair.