My 1992 500E arrived this week, and I have some thoughts. First, I bought this car on the basis of the honesty of the presentation and the seller. The seller, who I believe is a legitimate rocket scientist, had clearly been proactive on some big items, and the 500E had been passed between him and his brother since 2003.
I feel a paid a very fair price, and with that, comes the expectation that there will be some issues. The bigger and better news is, however, is that the cosmetics were better than expected; the interior smells good; the portfolio of records that accompanied the car are solid; and there's lots of OEM parts, from the glass to the body panels, still affixed. The widebody fenders are much more impressive in person and the car has a great stance. The disclosure about the faded paint was accurate, but the car still looks better than expected.
The issues seem to stem solely from lack of use. The suspension feels a bit tired. The shifter bushings are non-existent, and make it difficult when cold for the shift selector to move between gears. There's a whine in reverse that has me nervous - these cars are known to need rebuilds of the various clutches in the gearbox - but we'll do the shift bushings first before I start shopping for rebuilt transmission. I don't have records of any major cooling system work, so I'll likely proactively replace the water pump and thermostat. The other major disclosed flaw is an errant battery drain that could be traced back to a replaced under-dash wiring harness, but for now, the seller removed the number 9 fuse which controls things like the flashers to ensure it doesn't drain the battery while it sits.
Overall, a pretty manageable lists aside from some cosmetic repairs, and when complete, I feel confident we'll have a car worth more than the cost of the repairs and purchase price.