Date registered: Jan 2013
Vehicle: 90 350SDL, 98 S420, 97 SL500, 94 S420, past owner of W108/W112/W114/W123/W124/W126/W140 & W220 cars
Location: Tampa, FL
Mentioned: 8 Post(s)
Quoted: 606 Post(s)
Work in the fuel system alone could well exceed the value of the car in good running condition.
As someone who has gone both ways, that is, bought a "restorable" car and done so, and purchased one that was already in excellent condition, I can attest to the fact that it's ALWAYS cheaper to spend the money up front and buy the best car you can afford.
Otherwise you'll end up sinking far more than the car is worth into it. This means you drive and enjoy it for many years, or become one of the posters in the "For Sale" conference who lists all the things (and $$) they put into a car to try and justify the ridiculous price they have asked.
If you really want one of these, learn as much as you can about them, save your money and be patient. They do come along regularly in the For Sale and here (Vintage) conferences, so just bide your time and it will happen.
Half the battle is being patient and waiting for the right car, which can be really difficult at times. Don't compromise just because you want one NOW.