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Driving an old car like that every single day all year round? Point taken, maybe it won't be a trivial cost of repairs. But I was including petrol in that.
What's the mpg on one of those? 8? 12?
Also, I'm pretty sure after a winter you'd have to do some serious rust repairs. SL from that era are meant to be hideous for hiding rust, so I'd expect that to be similar.
I guess my main point assumed that it's not an everyday car. I would assume that an owner would drive it once or twice a week for 8 or 9 months of the year. So more like £600-800p/a in ULEZ.
I dont know where everyone lives obviously, but ULEZ isn't a trivial cost if you live near to it (or in it, like I now do - just), 12.50 x 7 x 52 = £4,550 a year. I wouldn't expect to budget that annually for regular maintainence, even for something like that merc up there.