[R129 SL] my blower motor is now 1 speed. ( low)

[.]

Hi , and thanks in advance for the good advice.
( this group has saved me lots of $$ and headaches).


1995  SL 500

My heat / air blower motor just started running on 
low speed only . no matter what speed setting you 
pick ,1,2,3,4, it will only run on low. ( this is 
true for both heat & air).

The local independent says I need a "blower regulator"
which is mounted on the blower motor. Cost $ 700 ,
and about $ 200 to install.

Does this sound like an accurate diagnosis ?

Does this sound like a fair price ?

Should I look for the part in a junk yard ?


Thanks.....Bruce in Nashville.