Date registered: Jul 2016
Vehicle: '02 SL500; '07 CL600; '98 SL600; (13) BMW's; 1967 Buick Riviera
Location: The Boonies of Idaho (Kuna) USA
Mentioned: 2 Post(s)
Quoted: 20 Post(s)
Don't know if this will help you decide, but I recently purchased a 1999 SL600 for $1000. It has 81,000 miles and was a theft recovery. I need to replace the ignition (all of it), get new keys, repair the front bumper, driver's seat and left headlight. I can't get to it right away, so it is in line behind a few other projects, but it's something I couldn't pass up. When I purchased the car, it came with equity. It's kind of like buying a house under market price. You absolutely cannot go wrong. There's probably $5000 worth of parts on it if nothing else. In addition to the instant equity of the purchase, it will appreciate just sitting there.
But, ultimately it's your decision.