How bad is this?
 

I just noticed this today when I dropped something under my car. I've made an appointment for Thursday (one week), as that was the earliest available time which met my schedule. My question is...should I not drive the car (1987 560SEL) until then, or will I be okay? The photo is from the passenger side rear wheel.
Thanks for the help!

You can drive it - just don't expect much performance in the handling department. It looks like the sway bar. You will want to get it repaired. I would not be pushing the car though the curves at high speeds if I were you.

I am not sure about your car, but on my 190e, I changed the bushings on the sawy and it was not difficult at all. If it is the sway bar, what about changing it yourself?

Iggy