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I have a 560SEL and have been looking to add a 560SL to the family and I had some "lessons learned" from the first.
Don't let low milage fool you. My SEL is an '88 and has less than 70K miles on it. I bought it with less than 68K. The big thing is to know how it was maintained. Find out what type of oil is/was used. If Pennzoil/Quaker State/Random 85-cent per quart oil, RUN AND DON'T LOOK BACK!!! If the owner will let you, take off the air filter housing and valve cover, and inspect the top of at least one of the heads. This will show you how much varnish is there. If it's abnormally dark RUN!
Other than the engine work I've had to due to poor quality of maintainance, I love the way my 560SEL performs. Its comfortable, smooth, and has pleanty of power for my tastes (of course I'm also a dieseler, my other car being a '78 300CD) Make sure the car was well taken care of and enjoy.
Some hints to clue you in to possible engine problems:
Have the current owner start the car for you while you watch the tail pipe. Do this after the car has been sitting for at least 2 hours. If the engine is still warm from being run, then this symptom may be camoflauged. You're looking for a sudden and brief puff of blackish smoke which will diffuse quickly. You will not see it if you're in the driver's seat. If you see this quick puff, make a mental note and take the car for a test drive. When you're done, repeat with the engine warm. If the puff does not re-occur, then it is likely the valve-stem seals need to be replaced. It can also be valve guides. If you take it to a mechanic, it could be anywhere from $500 to $4,000 for repairs depending on new seals only or a complete valve job.
There are plenty of resources for how involved those two jobs are online, so I won't duplicate, however, if you need a point in the right direction, just ask and I'll post some links.
Good luck and I hope it works out!
Scott
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