Welcome Greg! I have put in excessive of 400K miles on a number of EClass
cars we've owned. Even with some fairly expensive fixes they have proven to
be quite a bargain as well as a safe, enjoyable cars.
A/C R134 question is debated a lot here. These cars often get a leaking
hose at the point it connects to the compressor, oil oozes out, then
compressor goes out. I've had a few W124s and replaced all sorts of A/C
parts. The one I have had the least problem with is the one that I had
professionally converted to R134 with all appropriate parts replaced along
with a new combo-hose. Zero problems with it after over 100K miles on the
conversion, it is ice cold even in hot-humid weather. Could be expensive but
if you plan to keep the car, it is worth considering.
Not sure if there are laws to the contrary (or lack thereof) in U.S. of A,
but here, in Canada, it is illegal for auto shops to add freon into the old
R-12... luckily I found one shop that wants to make fast buck and charged
me $300cdn to fill it up and check for leaks in my '93 190E...
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