Comparing to a 1987 Corrolla is kind of a stretch... that's a very basic bare-bones car. And I'm not sure I'd really want to be driving (pleasure) or transporting my family (safety) in that car at 0K miles, let alone 289K miles.
I bought my 300E at 87K miles
expecting it would cost more in maintenance and be more hassle than a Toyota, and I was right! But, it's a lot more car than a Toyota, too.
When I went looking for a 4-dr sedan, a new Toyota Camry was one choice I looked at. It was a nice, boring, car... but seemed very expensive if you got one with any amenities.
So I started looking at higher-end used cards, and liked what I saw with the Benz's. My goal in getting a nice used 300E was overall cheaper cost-of-ownership (cradle to grave) than a new Toyota Camry.
So far, that's been the case, and... I'm not driving a Camry. Priceless.