I now have a 100mi round trip daily commute through the Hampton Roads Bridge Tunnel, the roads here suck so I'm looking learn about something I can get somewhat cheap, is nice to drive, and relatively easy to fix. I'm an ASE master tech so I can do work myself obviously, though have little experience with older stuff.
Anybody have some insight on these older luxury barges? I've done a bit of reading on them, engines harnesses on the Mercedes are common, BMW has a bunch of little things that go wrong etc.
25+mpg on highway is necessary(so V6/I6 is probably more desirable IMO), and scan tools for whatever diagnostics would need to be somewhat affordable within reason if required.
The more sensible car would probably be a Crown Vic or LT1 Impala possibly, but I've really been lusting after a nice German car.
Probably won't be buying for some time but if can be found cheap enough, can have a "project" to work on.
Other suggestions are welcome, I know I haven't thought of everything.
You're probably not going to get that milage out of a gas w126. A diesel maybe? W126 v8 are smooth cars but can have quirky issues that you won't find with other cars because of their CIS system. The 560SEL and SEC are fantastic driving cars. The models with SLS suspension can be more expensive to fix but still not hard. But, if you can find one for good price go for it.
The w124 had a lot of engine choices from 4 to 8 cylinder gas and a diesel option. In my opinion they can be reliable and obviously daily driven the harness and transmission problems have fixes other than that typical stuff.
So, where do you live? I grew up in Hampton VA and I return often. One thing is you hardly see a w126 on the road in that area compared to here in Southern California. And the difference in price is crazy. Finding a rust free w126 on the east coast is hard but they're throwing them away here in California.
I also, can get a clean w124 for less than 1k here. Crazy how you can save thousands on a car just from living in a different state.
BTW, I think there's a clean 420SEL for sale is Suffolk.
I don't know if I would want to daily either one for 100mi. If it were me I'd go Lexus LS400. 
In reply to clutchsmoke:
Oooh another good suggestion I completely forgot about...
Worst case scenario if I don't figure out what I want, I'll probably do the sensible thing and swap stock suspension back on my Mazda2 in the meantime, pay it off ASAP, then buy a lower mileage Camry Hybrid from Carmax. Or Mercedes C250 if they prove to be reliable in the next year or two.
To get that kind of mpg, I'd go with the LS400, it's Toyota's W126. The second gen was actually rated for 25 highway (old rating system).
I say to get the hybrid eventually, and have the W124/126 or E32/34 car for your nice cruiser. 
To get that mpg, I'd suggest the 3-series BMW's. Hardly luxo-barges, but satisfying to drive.
You can do 25mpg in an M50-powered manual E34 (it was rated for 17/26).
Having worked on mid ninties BMWs and MBs back to back, I would take an i6 powered Bimmer over any MB all day every day. You will definitely need a manual gearbox to have any hope of getting your target mpgs.
Also, I wouldn't really call an e34 or e39 BMW a "luxury barge", they aren't big or posh enough for that title. I like to describe 525s/528s as German Buicks, built by, and for people that actually care about how a car drives and handles.
In reply to yupididit:
$4k-6k budget. It's honestly relatively flexible. Just a matter of waiting/saving for more. I'm not looking to buy now, but putting some thought into it.
Like I said the other option is to wait a bit longer and just finance something newer. I'd like an auto, but know a manual trans will ultimately be more reliable.
There is always a used Honda CR-Z for MPG and ignoring luxury. Probably the sensible thing to do. I keep going back and forth: luxury at the expense of MPG, or go for the most economical thing that doesnt beat me to death I can get my hands on.
So many choices! I know about newer stuff generally, but the 90s was before my automotive knowledge times regarding German stuff.
I had an e34 530i. Great car but not many torks under 3500 rpm or so. IIRC I averaged approx. 23-24 mpg combined driving. Very comfortable car. Handled well except the steering was a bit number than what I'd have liked. There were engine block problems with some of the 3 liter v-8s. Nickasal vs. Alusil or whatever it was. BMW replace my engine for free & I picked the car up with new engine on the 7th anniversary of the cars in service date. I'd think that by now,all the engines with bad blocks would have been replaced or the cars junked.
PS. First year or perhaps 1st couple of years e34 didn't have passenger side air bag.
My first car was an e34 535i, auto but was a great car, no maintenance problems except typical bmw cooling woes. More torque than the 530i v8 I drove but its nothing great as far as power goes but it moves it down the highway easily at a high rate of speed
Well some craigslisting around here has found that 00-06 S430 Mercedes(W220) are abundant and cheap. I know some repairs are costly but I think a lot of it is labor which I can do myself. Current deep into researching them now... Apparently many people pull 30+MPG from them.
W126 mercedes are really well made and easy to work on. The climate control wnt work most likely, and one with over 200k miles will need $1500 in suspension work to drive nicely. A diesel one will get 25mpg too. I used to drive a 300sd daily, I have a 98 e300d now though but I wouldn't try to convince someone to buy one if they had other choices on the list.
EDT
New Reader
6/28/15 1:07 a.m.
I daily a 1995 E300 Diesel, the last of the W124's, and while I easily get 30mpg on the highway, I wouldn't exactly recommend it for such a long commute. It's got a 4-speed auto and is nearing 3k rpm at 70-75, not the most comfortable in a diesel. Mine has 290k miles and while the drivetrain has been almost bulletproof, the suspension has had to be refreshed a couple times and little interior and electrical troubles are pretty common. Luckily it's quite comfortable and very easy to work on. I love the big Benz's from the end of their golden era, but I'd be sure I knew what I was getting into.
I have a '90 MB W126 420SEL with 80k miles. I love it.
Two things:
1) It gets gas mileage that is so bad that you don't want to think about it. I drive almost 100% urban, so (literally) YMMV.
2) I am trying to decide right now about whether to spend $3k (yes, American dollars) to have the 20 hours of work done to pull the dash and fix the AC.
Aside from that, a wonderful car. I wish it made a bit more of a sexy exhaust note, but that's a minor complaint.
http://www.hemmings.com/classifieds/dealer/mercedes-benz/300se/1726372.html
Ohhh man that thing looks excellent if not just a bit overpriced(no mention of service records), and on the wrong coast.
flatlander937 wrote:
In reply to yupididit:
$4k-6k budget.
There is always a used Honda CR-Z for MPG and ignoring luxury. Probably the sensible thing to do.
I have a cr-z, and it is the best option for hybrid and manual. But for what you want, you want a lexus ls400. You already have a fun fwd hatch.
highway ride is not miata bad in the cr-z, but it is no lexus. I voted with my brain and ended up with a cr-z. I should have voted differently.
I have a e39 525i manual wagon, which I love, love love. Steady state 65 mph is about 30 mpg, nice vehicle dynamics, hasn't been too hateful to sort the little stuff. Parts aren't any more expensive than anything else provided you don't walk into a stealership to buy 'em. Gonna keep it forever.
(I recently converted a track-only e36 M3 back to street which is assuming most of the sunny day miles)
Also, my parents have the nicest w-124 300e in existence. Garaged since they bought it from an embassy guy in DC in the late 80s, insanely low miles, silver over flawless black MB-tex. I did a fluids/filters/brakes/tires drive it hard for 2 days service on it last year and it's a spectacular car.
But they're all "old cars".
