Keep & Restore '95 E320 -- or Replace with '02 E320
 

I have a mechanically excellent '95 E320 but am noticing small to medium paint blisters covering rust where metal window and trim clips meet the underlying sheet metal. Otherwise, I have no issues with the car and love the body style.

I am wondering whether it makes good sense to keep it and spend, say, $4K-$5K on paint/body work and minor mechanicals; or just spend about $9K on a clean '02 E320.

Suggestions?

You probably already know that this is more an emotional decision than a logical one, as spending considerable $$$ into a depreciating asset is not a wise move.

I had been down that road with my '93 300E, and much time and money was spent getting it to "cream" condition until....

....WHAM! Met an untimely death with a Tahoe!

Damage didn't appear too bad, but the structural damage required more than actual value to repair.

So I took the insurance check and ran!

After that accident, I reassessed how much money I was willing to spend refurbishing an old vehicle in the future.

Point is, you are now in the territory where you will spend more than it's worth to get it the way you want...but in the end, should the unthinkable happen, you will only get back what it's worth.

Either get it appraised and insured for what you are investing, or leave it be and look for something newer.

It depends what you want; if you care about the economics, you are probably better off going with the newer car. If you lake the older can and don't mind spending a little money to keep it nice, hold on to it.

The economics are a no-brainer. With almost 250K miles, your 124 is worth perhaps $1500. At that value, I can see spending 100% of its value to keep it mechanically sound and on the road. But 300% of its value on cosmetics - no way. Drive it until you're done with it. But any money you spend on it is sunk cost with no return when you dispose of the car.

...unless you like it better than the newer car. ;)

My $4-5K number is higher than what I'd actually put into it. $3K or so is more feasible. (And I have not spent close to that amount, in total, on maintenance/repairs in the past 5 years.)

Again, I like the body style, the engine is near spotless internally, and there are no significant issues mechanically. And it gets 28mpg highway. And it's fast. :D My only problems are the aforementioned small paint blisters.

Barring accidents, if $3K would buy me another 5 years of bliss, I would gladly spend the money. But I do like the idea of another, and newer, end of model year/bugs worked out car like the 02 E320. Other than that, I could just go ahead and get a current model -- and see what a new one feels like for a change (but I am not willing to take such an immediate depreciation hit).

Or leave it as is and drive it as is. :o Or if you want a newer car sell it and buy the 02.

It all comes down to how much $$ you are willing to spend.

Eric
 

You know the new car smell's not worth ALL the Lesser Quality of a New Mercedes.
Just consider ALL the "Stuff" we can never work on that they've built into the
Newer Chassis.....

I will be keeping it. I have no compelling reason to trade it since the only issues are cosmetic and was told are those are easy (for a paint detailer) to remedy.

When I do get a new one it will be an S400 hybrid -- saw one last week and I am in love. :)

Buy another 95 E320 for with low mileage and start all over. Use the one you got as a beater and to keep the salt off the nice one.

Believe it or not, I have considered that, but mine is mechanically excellent and soon the cosmetic blemishes will be gone.

I would only get another if it was one of those way under-priced Cabriolets that pop up occasionally. :)

on my dealer wholesale there's a white one in Jersey with 138k. Looks nice for 6k.

That's about half-price (if not less).

Red one on Craigslist DC:

$8500. 139K Miles

http://washingtondc.craigslist.org/doc/cto/2455130959.html

W210's are nice and at that special point where they are cheap yet still kind of newer.

I'd find a mint one and go with it.

E55 AMG's can be had in that vintage for not much more...:D