Get one with a long ticket and you will be well pleased. What to look out for?
Small stuff really. Check the heater fan works without squeaking on all speeds. Driver's window - Make sure it works. You will have rusty wings, it is mandatory to have them when you sell a 124. Make sure the self leveling suspension is, well, level and there are no obvious signs of leaks. Try the rear wiper and washer - total pain to sort if they are jiggered.
The 12v (no flutes in the drivers wing) is slower than the 24v but is perfectly adequate.
Oil pressure should be at 3 bar when driving dropping down to no lower than say, one when on tick-over.
Mine (12v) has 227K on it and it just sits up and asks for more. I'm totally sold on these.
What to spend - Less than a K should get you one if you can find one.
S124 E300d wagon, W124 om606 monster, E46 v8 coupe
I have a 1996 w124 e300 24v diesel estate as my daily runabout, the car has covered 231000 miles. In the 2 years that I have owned it, the only problem I have ever had is the light control unit packing up.
Just in case you did'nt know the TD it means touring diesel and not turbodiesel. The balljoints will probably need doing along with the engine mounts and propshaft mount and doughnut. Rusty wings are mandatory, check around the windows at the back for water penetration and rust. The camchain tensioner and pulley will probably need doing somewhere along the line.
Aside form that keep the oil and filter changes regular and she'll outlive you!
Previously we had a w124, 2.5 d 94 plate had that for 3 years, we did 54,000 miles on same set of tyres and never lifted the bonnet at all! (except for oil and filter) a tidy one will attract admiring glances where ever you go, So buy one and enjoy. My new w124 3.0 d goes on the road 1st September and i can`t wait, must have polished it three times already, and it has sat in the garage for the three weeks i have owned it!!.