Originally Posted by jlomon

You want to check the wiring harness for the issue you know about already. Check for head gasket leaks, which are a very common issue with M104 engined cars from that timeframe. Make sure the a/c blows cold because a/c repairs can get into the region of the price you're paying for the car. Also check the lower control arm bushings to see if they are cracking - that is potentially a $700-800 repair to replace them all (although it is probably cheaper to just buy new control arms with the bushings pressed in already and change the entire thing).

My 94 C280 has the same mileage as the one you are considering it. Once I got it sorted out it has been reliable. I enjoy driving it and it still feels very solid. My wife's W210 wagon feels like a whale by comparison. If you can verify that the car was well maintained and there aren't any glaring issues I think you'd be doing quite well at $1500. If you can DIY things like oil changes, spark plugs, brakes, etc then you'll have an easy time owning the car.