I'd not pay more than $2800 for it...and make ABSOLUTELY SURE you test reverse both when the engine/drivetrain is cold AND hot. If it takes a long time to go into reverse, it needs a transmission.
Don't ask how I know... As it stands, I'm going to drive mine until transmission failure, then I'll fix it.
Now that I've driven my E320 for about a thousand miles, I have to say part of me likes it better than the 126 it replaced. It handles remarkably well for a car of it's size and 'cushiness'. The 126 was very land-yacht like, which I like, but there were times I wished it weren't quite as large.
This comes from someone who is a lifelong and die hard land-yacht lover/owner.
Like most here, I consider the 123, 124, and 126 to be about middle-aged when they get to 170K-200K miles. Honestly, the both the 126 I had and the 124 I currently have are both more solid than the only new car I've owned, when said car was three months old.
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