Pay Too Much?

[NEAL560SL]

I just purchased a 1986 560SL with 31,000 miles from the original owner for $19,500.00. The vehicle has never been driven in the winter or rain according to owner and it truely appears that way to me as well. There is absolutely no rust what so ever on it anywhere. It looks like new condition except for minor surface scratches in clear coat on deck lid. Believe it or not I purchased this car sight unseen except for pictures. It even still has the original tires on it with no checking or cracking at all. However I really do wonder if I paid too much.

[yeldogt]

That looks to be a good price -- I see many for more money with more miles.

I would get new tires -- the compounds in the original tires will be much too hard to provide correct grip.

The 560sl is a heavy car and requires good grip -- especially the rears in the wet weather.

Be carefull driving it with the old tires!

[ericdee]

I wouldn't worry about it, too late now anyway. People spend more than that to bring them back to life.

Pictures please.

[affab]

I bought a 1987 560sl back in Sept. '03. This also is like new condition,never seen a winter,a garage queen,yada,yada,yada, but for one small item. It has 87,000 on it. Paid 18,500, Now I'm thinking maybe I paid too much! Any opinions?

[kknudson]

Well I'll bet a bunch of us second guess and second thought our purchase. I know I have many times.

They are all different, some are maintained mechanically, some kept nice and pretty, some were beat on some were pampered. You can't really compare them unless you see them side by side and spend hours with'm.


Do you enjoy it ???

Is is what you always wanted ???


Worst you paid a little more than you should have, keep it 4, 5 or .. years how much really was it ??


Don't worry about it, enjoy it !!!!!!!!!!!!!!!!!!!!

[bowbyeal]

Kknudson is right on the money.

Many of us feel we overpaid somewhat but the market for low mileage 560's is very thin and so it's very diffiucult to come up with a fair market price.

The main point is you got the car you wanted and they are amazing machines to drive....so have a great time.

[jjrodger]

Top condition R107s in the UK go for GBP30k; that is $50k at today's money.

As long as you're happy with it and can afford it, I wouldn't worry. Also, I'd change the tyres as a matter of urgency. You can get contemporary tyres from Michelin relatively easily and inexpensively, so you don't have to impugn the car's originality.

[NEAL560SL]

Thanks for the support. I was very pleased with the condition when the transporter delivered it to me from IL. I have wanted a 107 sinve 1973 and now I have one. Unfortunatly I havn't even driven it yet--too nice to drive in the Vermont winter. Come on spring!!! the only thing that doesn't seem to work is the clock. I tried to attach some pictures but did something wrong.

[DanielG]

One thing that needs to be discussed with respect to the purchase price of these cars is their replacement value to an insurance company. All of us have seen information that blue book, black book, Nada etc. values are considerably lower than the actual prices paid. I am concernced that the about $17,000 I paid for my 86 560 sl with 48,000 miles (along with the 2k I have put into it ), in October of 2002, would not be returned to me if the car were totaled.

I have been thinking about calling my insurance agent to discuss this and see what can be done. I imagine he is going to recommend that the car be appraised and that the insurance be written to cover that appraisal. Which probably means I will have to pay for an appraisal and my insurance bill will go up a considerable amount (or I will be restricted in the manner and places I can drive the car if I want to have coverage at a reasonable cost).

thoughts?

[NEAL560SL]

Dan,

Your right about the insurance. In order to insure mine for $20,000.00 it states 2,000 miles per year max. It lists it as a classic car.

[DanielG]

I have put on only about 2500 miles since I bought the car (15 months ago) -- so that limitation would not be bad. Do you have any limitations on parking it or taking it to work etc. I saw one post where classic insurance only allows you to drive it and it can only be parked at your residence (so no trips to the mall etc.)

What is the costs of such insurance. I currently pay about $750 a year for a non-classic car policy with good coverage (with a $250 deductable).

[DanielG]

By the way, with respect to the costs of these cars, especially the older ones (i.e the 107's)-- since many of these cars are in similar mechanical condition the difference in price, of 1 to 3k, can be based on such things as time of year that it is purchased and the color of the car. My car is gold with brown interior -- which is very conservative -- the red with palomino or parchment interiors and the black with silver interors, etc. -- often bring a premium. I bought mine from a dealer, and as I talked him down in price he kept telling me that if the car were black he could have gotten a lot more.

As for paying too much i bought a 1984 280sl euro
with a 5 speed stick about 6 years ago. at the
time i paid about $17,000 for the car with
148k on the clock. Six years later it has
175k and the repair costs has been zippo.
So as i see it im well ahead and have been
able to enjoy this vehicle.

No regrets at all from me. Just enjoy your
purchase.

steve c.

[NEAL560SL]

I'm definitely going to have to check into the driving and parking restrictions more closely in the spring when I do get to drive it. I'm with State Farm and the cost i $140.00 every 6 months.
My car is signal red with palomino interior. Have always wanted this color combination since (and car for that matter) 1973 when I was given a ride in a 450SL.

[NEAL560SL]

Trying to add a couple pics again.