There is no doubt that cars affect your mood. For example I get depressed when I drive a Vauxhall Zafira, a little bit aggressive when I drive a Mitsubishi Evo and very laid back if I’m behind the wheel of a Jaguar XK8. But few cars can make me feel more self-confident than a Mercedes-Benz SL. Launched in the UK in March 2002, the latest incarnation of the SL set about becoming the most accomplished luxury convertible ever built.

Initially available with a 5 litre V8 engine producing 306bhp and a tarmac-tearing 5.5 litre AMG version with 476bhp, the waiting list for both examples soon extended to well beyond a year and cars exchanged hands for up to £10,000 more than factory list prices.

Within 12 months a more modestly powered SL 350 with a 3.7 litre V6 was available with “just” 245bhp, complete with an attractive price tag some £13,000 less than the SL 500 and £33,000 less than the AMG.

While the AMG 55 might offer an exhaust note worthy of an American Nascar and performance to match, second-hand prices still hover around £55,000 for a 2002 02 example, making it an expensive option.

The less extreme SL 350 also offers a not insubstantial turn of speed, topping out at an electronically limited 155mph and reaching 60mph in just over 7sec. However, it is the SL 500 that now looks like the plum purchase — its £13,000 premium over the SL 350 has now eroded to around £5,500 on three-year-old models, with plenty of examples appearing around the £40,000 mark.

The burbly V8 delivers bundles of torque and sounds deliciously discreet but potent, and a prod of the throttle will have the speedo needle moving rapidly regardless of your initial road speed. Cruising with the roof down is also a pleasant affair; with windows up and wind deflector in position the low-slung seats place you well clear of wind buffeting so typical of cabriolets.

Interior fit and finish on these latest SLs have returned to best in class, something Mercedes was keen to ensure after criticism that some recent models were falling short of the high standards buyers had come to expect. In common with its little brother, the SLK, the new SL gained a clever folding metal roof — a huge step forward over its predecessors’ canvas and removable hard top combination.

Standard cars are well equipped; you get everything you need, leaving the options list to a few add-ons you quite possibly never knew you wanted, like massaging seats and a keyless ignition system. Only the absent satellite navigation, part of the Mercedes-Benz Command System, is now considered a must-have option.

• You know how you wait ages for a bus then two come along at once? The same thing happens with mistakes. In my piece about warranties last week I made not one but two howlers. I said Aston Martin offered only two years’ warranty when it gives three years’ unlimited mileage warranty, which includes paint, mechanical, and European Emergency Service. In addition, the DB9 and V8 Vantage have 10 years’ vehicle corrosion protection warranty. I also said Lotus offered only 12 months’ warranty with nothing on top when it gives eight years’ unlimited mileage chassis anti-corrosion warranty, two years’ defects unlimited mileage warranty (material and workmanship) and two years’ AA cover. The Lotus warranty is also valid for track days. Sorry Aston. Sorry Lotus. Sorry readers. I’m suitably chastened.
  
  
  Suspension
  Mercedes-Benz Active Body Control air suspension is standard on all models except the SL 350, for which it was a £2,500
  option when new but worth every penny as ride and handling is transformed. Prepare to pay around £1,200 more for a used SL 350 with it
  
  Gearbox
  SL 500s built after September 2003 get more desirable seven-speed automatic gearbox as standard
  
  Boot
  With the roof folded it is still a respectable 235 litres and there is extra storage space behind the rear seats
  
  Roof
  Folding metal roof is a design masterpiece and when folded away gives the SL a wonderfully clean top line
  
  Lights
  Xenon headlights standard
  
  Wind deflector
  Check that it comes with the car. You will appreciate its effect when cruising roof-down at high speed
  
  Colours
  Classic silver, blues and blacks are best, with grey, beige or black interiors
  
  Left-hand drive
  A number of left-hand-drive models were imported into the UK when supply of right-hand-drive cars was limited, but avoid them now unless they are £5,000-£10,000 cheaper or you will lose a small fortune
  
  VITAL STATISTICS
  
  Model Mercedes-Benz SL 500
  Engine 4996cc, eight cylinders
  Power 306bhp
  Transmission Seven-speed automatic
  Fuel 22.2mpg (combined cycle)
  Acceleration 0-60mph: 5.9sec
  Top speed 155mph, electronically limited
  
  THE ONE TO BUY
  
  Mercedes-Benz SL 500 seven-speed auto 2003 03 with 20,000 miles. Pay £47,000 at a franchised dealer, £45,000 privately
  
  OR, FOR THE SAME MONEY...
  
  2004 54 BMW 645Ci auto
  2000 X Aston Martin DB7 V12 Vantage
  2003 03 Porsche 911 Carrera 4 Cabriolet
  2005 55 Jaguar XKR Convertible
  1998 R Ferrari 355 Spider F1
  
  VALUES
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  SL 350 tiptronic auto worth £5,500 less than SL 500 equivalent. Source: estimates based on confidential CAP black book prices. ‘Trade’ is what a dealer would pay to buy your car; ‘Retail’ is what you would pay a dealer

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