Yes, enamel car and and don't forget to replace the oscarsans bold font with something more appropriate.

There's a couple of other issues some of which may sound pedantic but worth considering before a final form is decided upon.
Above all - Attn admin!! Can w116.org be used?
Secondly - the pedantic part, LHD or RHD or Euro or US or SE or SEL

I know, but my thoughts were that the final version if a similar pose is used that the car take on a non-descript appearance with regards to the above. Short v Long wheel base wont matter, but without trying, the pic I used after converting to grayscale and posterizing ended up almost hiding the bumpers and wipers to the point where it's hard to tell it's anything other than a w116.
Thirdly - colours. I'm thinking silver like Des said as a base and silver letters and lines, blue background for the text, maybe or maybe not dimples around the star and car and silver in colour. What colour for the star and car? I think they'd have to be different. It would be good to match the car with your own colour

Maybe the background to the star could be red.
Lastly - there's obviously no room for screw holes so the screws would have to be soldered to the rear. Speaking of room, I have my doubts whether a real version could accomodate that many letters and words around the outside. The oscarsans font I used is very forgiving, but I could be wrong, it may just fit.