A brief history
The first-generation SLK (factory code R170) debuted in 1996 and immediately shook up the compact-roadster segment. Its steel “Vario-Roof” folded away in 25 seconds, and journalists hailed the car as a “hard-top” rival to the Mazda MX-5 and the then-new Porsche Boxster. Production ran until 2004; a 2000 facelift brought more powerful engines, a fresher front bumper and new interior colours.
For a ’90 s Mercedes the R170 is surprisingly light — a shade over 1.2 t in SLK 200 trim — so even the base engine can show a bit of claw. At the other end of the scale sits the SLK 32 AMG with 354 PS and 0-100 km/h in 5.2 s, but a tidy AMG costs at least three times the budget we’re talking about here.
The “Convertibles under €10 k” series continues
In the previous instalment we covered the R171; earlier episodes looked at the BMW 3-series Cabrio. Today we step back one generation to see whether the (even cheaper) R170 is a hidden gem, a money-pit or perhaps a safe alternative to the newer Mercedes roadster R171.
Typical faults — what to watch on an R170
SLK 200 / SLK 200 Kompressor (M111, 136–192 PS)
• Head-gasket seepage around 150 000 km
• Kompressor clutch wear at ~150 000 km (on “K”)
• MAF and crank-sensor failures → rough idle, hard startsSLK 230 Kompressor (M111K 2.3, 163–197 PS)
• Same issues as the 200 K, plus higher blower load
• Supercharger often needs rebuilding after 200 000 km
• Cracking vacuum lines feeding the Kompressor clutch
SLK 320 (M112 V6 3.2, 218 PS)
• Generally the most reliable drivetrain in the range
• Minor oil weeps from the rear main seal or valve-cover backs
SLK 32 AMG (M112K V6 3.2, 354 PS)
• Charge-cooler radiator can clog
• Expensive brakes (345 mm discs)
All versions
• Rust on arches, door edges, floorpan (weak factory paint 1993-2004)
• Roof hydraulics: leaking rams, oil in the head-liner, slow mechanism
• Interior “soft-touch” paint rubs off
• Worn bushes/ball-joints → knocking over bumps
The R170 on a €10 000 budget
How much? Running SLKs appear from €1 000 but are usually beyond saving. Usable cars start around €3 000 (mostly early 200s and Kompressors). A tidy SLK 320 sits near €6 500; every non-AMG fits under our €10 k ceiling. For this money you can get an excellent 230 Kompressor (often under 100 000 km). Naturally-aspirated twos can be near-perfect; very clean 218-PS V6s are scarcer and the best reach toward €20 k, so within budget they’ll be sound but not concours.
Which version makes sense?
• Daily driver: late SLK 200 K (163 PS) — simpler, frugal (8-9 l/100 km) and post-facelift electronics.
• Best fun/price/reliability mix: SLK 320 — great V6 soundtrack, bullet-proof M112.
• Budget young-timer killer: early SLK 230 K (193 PS) — power close to the 320, prices under €5 k; watch the blower and rust.
What to avoid? Basket cases with rusted sills and a damp boot (roof pumps can “explode” oil). Bodywork plus hydraulics can exceed the car’s value. The SLK tempts sellers to off-load half-dead cars as “bargains”, so stay sharp.
Why is it still worth a look?
• Roof stowed, the R170 looks like a sleek coupé — not every roadster manages that.
• Post-2000 cars gained ESP, a six-speed manual and a nicer dash.
• Shares its platform with the W202 C-Class, so suspension and brake parts are plentiful and cheap.
Final thought
If you have €10 000 and dream of a compact hard-top convertible, the SLK R170 remains a tasty morsel. Find the cleanest, least rusty example, cycle the roof a few times, listen for a whining pump — then hit the road. Want everything at once (V6 music, low maintenance, less rust)? Go for a late SLK 320. It’s less modern than the R171, but the first SLK is the icon of small German roadsters.
Full disclosure: I’m sentimental — nearly 30 years ago I had a brand-new SLK 230 Kompressor… in 1:24 scale by Bburago.
Sentiment aside, the Mercedes-Benz SLK 320 R170 is, for me, the sweet spot at €10 k. Buy a good one and invest a little: spotless cars already fetch €20 k. As rust claims neglected examples, supply will only shrink — I’d be stunned if clean R170s ever start losing value.