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1993 Mercedes 500E, is it a good buy

40K views 56 replies 27 participants last post by  peter.ernest.crowther 
#1 · (Edited)
One of my recent acquaintances has a 1993 E500, a 2008 M5, a 2007 Maserati Q, and a truck. I asked him about the E500, whether he likes it and stuff. He said, of his 13 years of ownership he has never met anyone who knows E500's and everyone think that it is a normal E. But anyway, he said that he will sell it to me if I wanted it but please give me your opinion. I jut got one 560 SEL since a month ago.
1993 E500
52,000 miles, smoke silver with beige
I saw the car from outside couple of weeks ago but I didn't know him then. Now it is at the dealership getting some work done. He said that the suspension may need some work or need to be replaced but I haven't looked at it yet. The car has been in new york most of its life. He says that there is no rust or any cosmetic stuff bad on this car, but again I haven't looked at it.
He wants $6,500 and may be he'll come down to $5,000 if he is selling me. Is that a good price or what should I be offering him.
ow much will it cost to change / work the entire suspension front and back, it has a hydropneumatic as in a 560SEL.
what other things I need to look for. will it hold its value over time. is it really considered special or classic as some people say.
Thanks
 
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#4 · (Edited)
I have always wanted to have a Porsche but with the quality of a Mercedes.

The 500E is the only car that can cover both bases (being engineered by MB but built by Porsche).

Being a W124 fan with 2 already on hand, I am holding out for a E500 myself but am planning on finding and buying a E500 Limited in Europe and bringing it back here.

However, should you pass on your find, I'll be glad to step in and complete the sale.

As far as things to watch out for, there are only a few.

1) Engine wiring harness, just like any other Mercedes model made between model year '92 and '96. There are 3 parts to the engine wiring harness on the 500E, so not a cheap fix, but required to avoid a bunch of reliability/driveability issues. Still cheaper than burning out a ECU though.

2) Lifter oil guides tend to become brittle with age and crack causing lifter noise.

3) The M119 V8 engine is known for timing chain stretch, but usually at higher mileage. However, you want to catch this before it grenades the engine.

4) This engine in the W124 body runs hot, very hot. Seeing a temp gauge sitting at just under red line on the scale is not uncommon. However, you have to keep a close tab on the overall health of the cooling system and pretty much watch it like a hawk. In the car you found, for example, I would make sure that both electric fans are working perfectly & consistently and I would recommend changing at least the water pump, fan clutch, thermostat and both radiator hoses regardless of the mileage due to age and using genuine MB or Zerex G-5 coolant in the proper concentration.
 
#5 ·
wow, a really fast reply from u guys. sbaert, I am really good knowing he cars and specs but not internal parts, so, first two of ur points I have to read up on before I drive the car and to see where they are located. Timing chain stretch - how would u find that, will there be clanking noise or something like that before it gives up. please let me know.
If anyone knows what the real value of this car in the market let me know too. He is giving it for that price since he has many other cars and basically he likes his new M5 and probably didn't care about this cars price. But I would be happier if I know that there cars are of higher market value and will hold their value, for example another 10 years I would like to get atleast $5,000 fo it and I won't be putting more than 10,000-20,000 miles on it.
 
#6 ·
another thing to get this price ( if it is much less than the market value ) is that his dog who dosent like many people, likes me and he came and talked to me because he saw his dog running to me for couple of days.
Probably I will see the car next week after this weeks hurricane threat is over and drive it and talk about the price if I like it. If I don't don't like it for some reason, then I will tell u guys the reason and probably u can offer him a price but I am sure it wont be $5,000, he will want mayb little less than the current market value. But again, I don't know what would be the current market value, since all the price tools online gives much varied results.
actually I don't need another car which will give the same gas mileage as my current car but it would be more sportier and may be a collectors car and sometime I can sell it for atleast the same value I bought the car without any depriciation.
 
#7 ·
The lifter oil guides are located underneath the valve covers, and requires removal of the valve cover to check. They look like little plastic tubes. Not a difficult job, and the parts are very cheap. Always replace the oil guides AND timing chain guides regardless of the miles, since they go bad with age as well as mileage.

As far as checking for timing stretch, you have to put the engine at TDC (#1 cylinder at top dead center) then read the degree off the pointer on the crankshaft. If it is at spec you're cool. However, if it is off even by a few degrees, replacement of the whole chain, guides & tensioners are in order almost immediately.

I don't remember off hand what the timing is for the 93 500E, but I can find out in my W124 factory service manual if you need it.
 
#11 ·
I'm with szook, that price is wayyyyy too good to be true considering the mileage (amongst other things) on that car. If the owner has been with the car for 13 years and talks about how people don't know about the history of the car, he wouldn't be selling it for that low.

But again, people have their reasons, so you never know until you see it in person. On a side note, if you pull out, I got 3rd dibs on it! :D
 
#17 ·
There was a topic recently about someone who just bought a 560SEL in excellent condition from the 1st owner for $100 only.
I'll buy that...but a 560SEL is nothing like E500E's models from the 90's. I still say the price is too low, maybe if the seller is your uncle then I can see the price being so low. Otherwise, I would be very careful and have a knowledgeable mechanic who knows the E500E models do a very good inspection before buying the car. Some parts like the TBA can run you $1,200 new.
 
#14 ·
I recently had a '92 500E that had covered 325,000kms (nearly 200,000 miles) and it pulled like a train!
It was well screwed together and you can get loads of info and help over on Mercedes-Benz 500E/E500 Fanatics Underground Kingdom.
Can't comment on the price as I'm in the UK but it seems cheap - so buy it!!!!!!
Great colour too - it gets better the more I think about it - only downside is that gas isn't as cheap as it once was.
 
#18 ·
Thanks all for ur input. He is the second owner and he bought it in 95 with 10,000 miles on it. As I said earlier I saw the car once when he was pulling inside his house but I didn't know him then. I looked at the records and it has 50000 miles and the records has been chronological. Once the car comes back from the dealership I will go over the carfax and stuff and now I am pretty good at identifying whether it has been in an accident and whether it has been painted.
He told me that the suspension needs changing, so I would say that it would be around $2,000. I don't know. if any of u have an idea of how much it will cost let me know.
I really don't know why he will sell it that low. Actually when he was first talking to me he said he will sell it for 15,000 - 16,000 and then 10 minutes later he said $10,000 and then another half an hour of talking - not about the car but general chat - he said he would give it to me for 6,500, 5,000. So, I really don't know why he came down $10,000 in price.
he was willing to sell his maserati for around 65,000 - 70,000 but he said he has been in a small accident while he was trying to pu a CD and the person in the from turned suddenly and he hit her back. I'm not thinking he's lying.
Before I get the car I will definitely look thoroughly and the may b post some pictures for u guys.
Is there any way to check the mileage even though he has the records. like some particular wear and tear that would say it has run like 1,50,000. let me know.
He always had 3 to 4 cars so he may not have driven this too much too but I am trying to justify.
Please let me know if I buy it for $5,000 and spend $2,000 to get the suspension and other stuff ready - remember it runs and drives fine, since I have seen him driving it - how much will I loose after 5 - 10 years. I ask this because I absolutely dosen't need a a second car but I like it and the price is cheap I was thing to get it but don't want to loose money in depriciation after few years. I would be putting around 1,000 miles a year on that car because I think 500E maight hold the value better than my 560SEL.
 
#23 ·
I don't know why he came down in price, actually I was not expressing interest in buying his car. He was talking about his dad having a 560 SEL just like mine and suddenly he said that he will give it to me if I wanted it. But I will let u know what I find out this week.
 
#21 ·
A bunch of things don't add up here, why would a 50K mile car need extensive suspension work? Rust or under carriage damage are the only things that could warrant the need for much even taking into account the physical age of the car. Why would an almost stranger start out at 15 grand an drop to a third of that in less than an hour? None of this sounds legit, is the car a salvage? I am not going to say with out a doubt that there are some hidden issues but, I find it very hard to believe that the car is a pristine 50K car with minor issues.

Steve
 
#22 ·
I have my doubts too, and I do not know about the title and I would have to check it after I drive the car. Probably I should be quiet till I test it out but I wanted to know what to look out for and whether it will hold its value over time. Most probably I will se and drive and take it to a mechanic this week and I will let u guys know what I think.
 
#28 ·
Start with the VIN and run a CARFAX report.
This will give you some idea of the history and ownership and indicate if any major accidents, recalls, flood, salvage, mileage, etc.

Take it to a Mercedes dealership and expect to pay about $500.00, depending on market rates to have the vehicle fully inspected.
Have them include a compression test on the engine.
The dealership can use the VIN to search the Mercedes service history data base to see what repairs, maintenance, recalls, etc have been performed by any Mercedes dealer.

It is an extremely low price for the condition you describe.
A low mileage example, number two+ condition would be in the $18K - $25K range.

He's asking more a price in line with a 300E, E320, 400E, E420 sedan.

Just keep in the back of your mind..."if it's too good to be true, then probably it is".

Why would a stranger be a benefactor to you, when he could wholesale the vehicle to a licensed dealer for almost double ?
 
#30 ·
if the body is in great condition and the engine and suspension requires a great deal of work you will still be better off then most 500E E500 owners because all in all with parts and labor you should guesstimate from my understanding 4000 big ones... thats a 500E 1993 with 52,000 miles for around 10,000 :)

each strut retails for around 250 at the local MB dealership here in Long Island where they jack up prices like anything... i dont know but i am really sure a whole engine and suspension overhall if your shopping savvy shouldnt be over 4000-5000 using your own parts and some outside labor for the major stuff and some of your own ;)

remember at the end of the day you will be satisfied just make sure the car is not hit
 
#31 ·
In good condition, it will absolutely hold its market value, if not increase. This is a very special Mercedes we are talking about here, very few were ever imported into the states, currently avg selling prices start at 15k in reasonable condition. This is a collector car in good condition or not, however, for this price there is something fishy or the owner has no clue about its prestige and/or history. Let us know whats up!
 
#34 ·
I'm with Appatula...SZVOOK, Nice! Real Nice!

There are plenty of opportunities to buy from either "don't care or know better" sellers, disinterested sellers, sellers who are more busy w $250K transactions than $15K transactions, fatigued sellers etc.

Would be great to hear that this car / owner is genuine, just disinterested in the sales game. :)
 
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