Don't close this window and head off to Craigslist yet! Yes, it is very cheap, and is even pretty reliable. But as with all older luxury vehicles, that's if they've been maintained consistently. If so, 300k miles should be no problem. You can work on this car at home if you have some skills with a wrench. These cars do have a lot of electronics, though, so if you can't work with electricity - you will learn.
I chatted up an owner of one of these and his biggest complaint was that a bunch of small electronic parts don't work anymore. The self-closing door, the little flap on the trunk not retracting... Small stuff. But yes, he said you're going to probably see a bunch of small electronic gremlins. I'm working about the small electronic engine gremlins... Nonetheless...
As far as problems go, there's nothing specific that I know of. Make sure the timing belt is good, no leaks, yada-yada. Make sure it doesn't overheat. Like I said, these cars are pretty reliable as 90s Mercedes tend to be but you should know that parts are more expensive. If you work on the car yourself, it shouldn't be a big deal, but it can add up if you're paying a mechanic or dealership.
I've owned a BMW and now this Lexus, and the parts for these cars are similar to Ford Focus prices. Mercedes? Twice the cost. It's actually true what they say. But if I was to buy this car, it would be worth it to me. In today's money, the sticker price on that car was probably $90,000 so it's okay if I have to pay $400 for an alternator (it's probably less than that).
The car itself is great. I was truly admiring it. I had to think about which car I would prefer to have and while I, ofcourse, picked the Lexus, that Mercedes is extremely nice.
I see a lot of them with pretty low miles - about 150,000 - for sale on Craigslist. I suspect a lot of old people are becoming unable to drive and selling their old vehicles. This is good for us because old people maintain their cars (usually) and keep them clean! Also, they drive them slow and stuff. That's the best previous owner.
The ride is smooth, that big V8 will definitely put you in your seat, and if you want a couch on wheels with a big motor attached to it, here you go. The gas mileage matches the car. It's a big... Demand. Well, not really - 15/21mpg, something like a truck.
It's a great luxury sedan and this car definitely deserves its reputation. The way the motor sounds is amazing. The best way to describe it is how you can tell by the sound how much air the engine is actually displacing! It's a big engine and sucks in a lot of it. Although the exhaust is luxury-car muted, it's no Prius to be obvious. Has a nice growl to it.
Like I mentioned, you probably shouldn't think about buying this car if you can't work on it yourself. The little things that are easily fixed will end up costing more than the car is worth now. But then again, it's all about owning and maintaining an amazing vehicle. Just warning you.
The problem is mitigated by the fact that at the upper end of our price range, $3,000, you can find one with low miles with some patience. I'm talking 120-150k which is low for a vehicle that is almost twenty years old and reliable. As always, inspect it before you buy it and have fun doing burnouts in front of your ex-girlfriend's house in a huge Mercedes! Have a great day, car people.
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