Should You Buy a 2007 Mercedes E350 with 161,000 Miles for $5,000?

When considering the purchase of a used vehicle, especially one with a significant mileage, it's important to weigh the pros and cons carefully. A 2007 Mercedes E350 with 161,000 miles poses unique challenges and opportunities. This article explores whether this particular car is a wise investment, providing insights and advice based on common experiences and expert opinions.

Personal Experience with a 2007 Mercedes E350

I own a 2007 Mercedes E350 with 120,000 miles, a car that I originally bought new. Recently, I completed a 2,000-mile road trip with it, and the car has proven to be reliable, except for some recent issues with the suspension, including rear springs, shocks, and a control arm. The front suspension components are in good condition.

I allocate approximately $800 per year for routine maintenance and set aside $1,000 annually for unforeseen repairs. This budget has served me well, as some years I might not need to use any of the allocated funds while others can result in more significant expenses. My advice would be to find a reputable independent mechanic and to save money for both routine maintenance and unexpected repairs.

Expert Opinions and Market Value

Several perspectives offer valuable insights into whether a 2007 Mercedes E350 with 161,000 miles is worth purchasing for $5,000.

1. Valuation Comparison: One individual suggests that a similar vintage (2007) and mileage (161,000 miles) 5 Series car would be worth around $5,000. They point out that while the E350 might be slightly more valuable, it's unlikely to be five times more. Without specific model details, it's challenging to give a precise valuation, but the suggestion is that a 2000 vehicle in comparable condition might not be a great deal.

Based on their experience, they advise against buying such a car unless the owner is skilled in diagnosing and fixing their own vehicles. Luxury and near-luxury cars are known for their high repair costs, with common issues like $3,000 transmission repairs and $1,000 water pump replacements. For this reason, they recommend considering a lower mileage Certified Pre-Owned (CPO) Mercedes within the $5,000 price range.

2. Potential for Repair Expenses: Another opinion emphasizes that German cars can be problematic, especially for high-mileage vehicles. Unless the car has had most of its major servicing done, the costs of repairs can quickly become prohibitive. If the buyer is not wealthy and does not have the necessary skills to perform basic maintenance, the car might become a significant source of financial strain.

They suggest that if the buyer is not familiar with the maintenance processes or costs, it may be worth avoiding the purchase. Dealerships are notorious for charging exorbitant prices for routine services and repairs. A non-wealthy buyer might struggle with the costs involved, particularly for regular services like oil changes and more complex repairs such as wishbone or damper changes.

Conclusion

Whether a 2007 Mercedes E350 with 161,000 miles is a good investment depends largely on the individual's financial situation, mechanical knowledge, and budget. Here are our key takeaways:

Reliability and Budgeting: A reliable mechanic is crucial, and setting aside funds for routine maintenance and unforeseen repairs is essential. Value Comparison: While this 2007 E350 might have some value, it may not be a great deal when compared to other similar vehicles. Repair Costs: German luxury cars with high mileage can become expensive to maintain, and regular repairs can consume a significant portion of even a modest annual budget.

In summary, if you are confident in your mechanical skills, have a budget, and are willing to take on the potential costs, a 2007 Mercedes E350 with 161,000 miles could be a suitable choice. However, if you are not prepared for high repair costs or lack the necessary knowledge and tools, it might be better to consider other options, such as a lower mileage CPO Mercedes.