Date registered: Feb 2008
Vehicle: 2004 W220 (S430) ; 2001 R129 (SL500) Sport
Location: Alabama Gulf Coast--formerly Charlottesville, VA
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Anything you do to change the car from as-delivered will lower its value. Mercedes is one of the few brands where adding aftermarket accessories devalues the vehicle. You could put $50k worth of new goodies on the car and it would be worth less than you paid. If you want to tart up a car, buy a Charger or a Mustang or a Nissan; they didn't cost much to begin with, so you don't lose anything. There is hardly anything sadder than a fine old Mercedes sedan dressed up like a $2 whore.
There is a detailing forum on this site (down below this forum). Those guys can tell you what to do with the paint. There is no magic spray I know of; everything is going to involve elbow grease, time, and proper materials. You can probably find a high-end detail shop to bring everything back for a few hundred bucks if you don't want to do it yourself.
By the way, everything about maintaining, repairing, and cleaning a Mercedes is usually expressed in hundreds of dollars of cost. There are plenty of things you can do yourself, and you can buy parts from aftermarket suppliers for much less than a dealer will charge, but there are some things only a mechanic (or dealer) can do unless you are a professional mechanic yourself, and those things cost big money. Most everybody who has had one for a while has learned that nothing is gained by shortcuts; proper repair with proper parts is necessary. Splicing and duct-taping and using quick ties simply won't work.
As someone said, there is nothing more expensive than a cheap Mercedes. That is why well-maintained (even with high mileage) versions with complete repair records fetch a premium price. Beaters that haven't seen a dealership since they went out of warranty are avoided like the disasters they almost surely are. The cars are durable--you can run one hard all you like, but if they aren't maintained to standard, they break. If they are maintained to standard, you can't break one.
Good luck. I hope you enjoy your car.
"Don't pick a fight with an old man. If he is too old to fight, he'll just kill you."--John Steinbeck