The prevailing advice is to buy a well-sorted, well-documented car and budget roughly $1-2k/year, because a cheap neglected example becomes a horror story with control arms, engine and trans mounts, ignition coils, AC parts and vacuum pumps all wanting attention at 30-plus years. The community adage is that with these cars you buy the service records and prior owners, and the early cars are explicitly not for the faint of heart.
Maintenance cost and buying advice: buy sorted, not cheap
Mercedes-Benz S-Class (W140) · buying