Well, I got to experience an absolutely abused, unmaintained 500SEL last night. It was horrible...rear shocks blown (BOUNCCY!) one window was broken, stereo kinda worked, starter sounded like it was grinding, someone had used spray paint on the bumpers...etc All for only $5k!!

Your going to have to spend $10k-$15k to get a decent W140.

http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=244200370&dealer_id=53793586&car_year=1999&model=S500&num_records=25&systime=&ma ke2=&start_year=1981&keywordsfyc=&keywordsfyc=&keywordsrep=&keywordsrep=&engine=&certified=&body_cod e=0&fuel=&awsp=false&search_type=both&distance=0&marketZipError=false&search_lang=en&make=MB&keyword s_display=&color=&page_location=findacar%3A%3Aispsearchform&min_price=&drive=&default_sort=priceDESC &max_mileage=&style_flag=1&sort_type=priceDESC&address=06460&advanced=&end_year=1999&doors=&transmis sion=&max_price=&cardist=2608

Damn they are cheap these days!

I just bought a 93' S420. 150k Miles for $5k. It's in great condition with the only flaws being a few spots on the paint, and it needs something with the rear window. Other than that it really is perfect and drives great! I'll get some pics of it up when I get a chance.

Keep in mind there is NO SUCH THING as a cheap Mercedes....you either pay for it upfront or, well, on the back end.
My 1997 S-500 is great with only 46,000 miles on it and it still hits me with some big repair bills - and I spent about $19,000 on it about 2 years ago.

As plink said, the ASR light, pointing to a bad ETA, is something that you should check. Based on the milage, it may have had it replaced. If so, that's one expense that you will not have to fork up!

Check Menu#24 for details on what happens when it goes bad.

On the other hand, my '94 has been the MOST reliable car that I've had. It was properly serviced so that helps alot.

To contest a hackneyed phrase with another hackneyed phrase, you should never say never. I've personally owned several cheap Mercedes - both cheap to buy and cheap to own and operate. I would suggest it's not even a rare event, at least for a DIYer.

I agree...I have had 3 cheap Mercedes so far. Cheap to buy, own, and operate. My W126 has been the most reliable car ever. I almost want to keep driving it and let the W140 sit in the garage because I'm afraid something might break! lololol