Hey everybody, I am new to this forum.
I am going to see the car in real life at the end of the week, what should I look for ?
RUST. These cars are known for it, especially in locations that use salt on streets. Check pretty much everywhere, such as rocker panels (outside and under the sill plates), floor boards under the mats, above the headlights and lower corners of front fenders, inner front fender wheels, front bumper support, and rear fender wheels and lips.
Also check the front suspension to make sure it has been properly greased. The suspension pivots are actually threaded bolts, and if they have not been greased, they will freeze up and require replacement of the pivots and sometimes A-arms if they have been froze for too long. Might also want to take a look at the rear axle to see of the rubber boot at the axle pivot is bad. Most cars usually have a problem with the clutch, as it is operated by a hydraulic cylinder which usually leaks if the car sits very long. This is not a major issue, just an annoyance.
Otherwise, just check the overall condition of the body and motor like any other car. These cars are pretty well built, so will run a long time if they don't rust out. Be aware that this car is 46 years old, so parts are getting harder to find, and my not be cheap when you do find them. Many parts though are still available from Mercedes and aftermarket as well.
As far as price, that is hard to say. These models are not generally sought after by collectors, so they can be had more reasonable than others of the same vintage. They start out at $300 to $500 for a parts car or car that needs considerable restoration. I would guesstimate that the average condition car would bring $1000 to $3000. Not sure what the high end would be, but you can easily get more in a restored car than they are worth, so don't expect to make a fortune if you sell it. You just have to decide what you are willing to invest in total after you figure the purchase price plus any repairs that will inevitably be needed given its age.
Hope this helps.