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Unread 08-30-2014, 09:29 PM   #1
JKToad
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84 XJ Wagoneer - Should I keep??

84 XJ Waggy. 200xxx miles. It's a little beat up as you can see, but it's mechanically sound with the 2.5L. 4wd and just about everything else is working fine. It's road ready and passed inspection. It's been in my family for a long time. I've got a long list of all the work done to it over the last 10ish years.

http://tinypic.com/r/29qbm39/8

So, the big question: Knowing the rarity of a Wagoneer XJ (especially one from 84), Is it worth my time to keep restoring it and really sink some money into it?

My insurance company claims that it's worth roughly 6,000 dollars in the condition it is now. 20,000 for one in factory condition. So that's great, but as a sixteen year old it's completely ridiculous for me to hang onto this as a daily driver, or even for it's potential value as a classic.

What should I do?

Thanks,
John

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Unread 08-30-2014, 10:16 PM   #2
kumaclimber
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rock it until the wheels fall off then buy new wheels
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Unread 08-31-2014, 08:09 AM   #3
mschi772
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I'd be maintaining and restoring the crap outta that. Something like that in restored/nearly restored condition would be priceless to me, so I wouldn't hesitate to pay whatever money was necessary to make repairs. If you can manage it, if I were you, I'd be saving like made to have rust repaired and new paint. Any other part of the vehicle can be tackled as it comes, but rust gets worse with time and eventually can be so bad that the vehicle is worthless. The sooner it is removed/prevented, the better and the cheaper. Hell, want make that investment even cheaper? Just use the pros to handle the rust then paint it yourself with a rattle can or Monstaliner--won't be a show car, but you'll have the peace of mind that it won't be rotting on you.

Don't restore it hoping for a return on your investment. Everyone always hopes their car will make them rich when they think of restoration, but that is very rarely the case. An 84 XJ (even a Waggy) is almost certainly never going to net you a huge wad of cash. You rarely ever get the money you put into a car back out of it when you sell it. If restoring/maintaining it isn't worth it to you intrinsically, sell the vehicle to someone to whom the effort will be worth the time and money.

If you try to sell it, don't use those insurance values for selling it, though. It is certainly not worth $6000 as it sits, and could not possibly be worth $20k in factory condition as a sale price. I don't have a clue where your insurance company is getting those numbers from.

Whatever you do, please don't sell it to some schmuck who'll just destroy it.
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Unread 08-31-2014, 08:33 AM   #4
JKToad
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Thanks, and if/when it comes time for me to part with it, I'll be sure to sell it to someone who'll treat her right. For now I think I'll be that person. Unless or until someone comes along that fits the description of a good Jeep owner.

It's funny you mention the rust, it has almost none! There are spots under the floorboard on the passenger and driver's side that is pretty substantial, but other than that it's quite rust free! I'll jump on those rust spots next chance I get and start sanding the rest of the body for a new paint job. Might just go with primer and leave it until I can get the money for the paint, but hell I'm sure the prep work will take a couple weeks at best.

That said, thanks for your feedback. I really admire the Waggy and I hope there are many conversations to be had about it here,
John
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Unread 08-31-2014, 09:35 AM   #5
937Comanche
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I don't see you ever recouping any serious restoration money invested in that. They didn't make many Yugo's but that doesn't make them investment worthy. The '84-'86 XJ's are definitely the least loved of the XJ's and yours appears to be a low-market low-optioned version that doesn't even have the still under-powered 2.8. It is like the fairly rare 4-door FSJ Cherokee: sure they made fewer of them but they don't bring any more money because in reality they are just a Wagoneer with different trim. Take away a couple of your appearance items...grille and nameplates mainly... and it is indistinguishable from any other XJ. No special engine, axle, drivetrain, or any hard parts. Your insurance company estimate is already over-inflated by 6x's. Did you pay $6K for it? If you can find someone who will I would sell it immediately. Even if you did restore it the profit margin on the restore investment probably wouldn't equal the $5K margin from the $1K that it should sell for and the $6k they think it is worth.

I get it is a family heirloom and from other posts I get you think an XJ Wagoneer is something special. But in the Jeep world it is just another XJ.
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Unread 08-31-2014, 12:26 PM   #6
JKToad
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Quote:
Originally Posted by 937Comanche View Post
I don't see you ever recouping any serious restoration money invested in that. They didn't make many Yugo's but that doesn't make them investment worthy. The '84-'86 XJ's are definitely the least loved of the XJ's and yours appears to be a low-market low-optioned version that doesn't even have the still under-powered 2.8. It is like the fairly rare 4-door FSJ Cherokee: sure they made fewer of them but they don't bring any more money because in reality they are just a Wagoneer with different trim. Take away a couple of your appearance items...grille and nameplates mainly... and it is indistinguishable from any other XJ. No special engine, axle, drivetrain, or any hard parts. Your insurance company estimate is already over-inflated by 6x's. Did you pay $6K for it? If you can find someone who will I would sell it immediately. Even if you did restore it the profit margin on the restore investment probably wouldn't equal the $5K margin from the $1K that it should sell for and the $6k they think it is worth.

I get it is a family heirloom and from other posts I get you think an XJ Wagoneer is something special. But in the Jeep world it is just another XJ.
Actually, 937Comanche, it was 12k dollars in 1984, Considerably more than the Cherokee because the Wagoneer was seen as the "luxurious alternative" to the more affordable Jeep Cherokee. You're not entirely wrong. The 84-86 XJs ARE the least loved because they were first year cars and sucked giant monkey nuts compared to the later models, but that's what makes any first year vehicle special to a certain niche of people. Also, Thank you captain obvious for applying typical market value to my vehicle in an overly exasperated way, such that it almost doesn't make any sense at all.
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Unread 09-03-2014, 12:02 PM   #7
jeepkid03
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You don't see any of those around anymore, I'd definitely keep it and eventually restore it.
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Unread 09-04-2014, 10:26 PM   #8
937Comanche
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It's purchase price means little 20 years later....and as for someone paying "considerably more than for the Cherokee" just remember what PT Barnum stated....
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