Would my car be able to handle the towing chores of a trailer say this size and weight? Trailer is 1070 lbs empty and would have a race Kart and accessories totaling anywhere from 200 to 350 lbs.

Here's the trailer....
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=4522777640

Here's the "tow vehicle". 1990 420SEL / 151K
http://benzworld.org/gallery/pics/10193750173200495003AM.jpg

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1990 420 SEL / 151K mi.