I found a backyard treasure today: a 1976 CJ5 Renegade/Levi edition. I know the man selling it from church and he is midway through a frame-off restoration. I am very interested in buying it but I am unsure of what to offer him...
The Details:
-Frame restored and painted with POR 15 (w/welded on reinforcement)
-Original 15" aluminum slot wheels (rare)
-Primered new steel tub ready to paint (not yet installed on frame)
-Rebuilt 258 4.2L straight six (not installed)
-Restored 3 speed transmission and transfer case
-Original Levi Seats. Driver side ripped, passenger and rear bench in very good shape.
-Replacement soft top in OEM color/ in good condition
-Boxes and boxes of new parts!
He told me he is $10,000 deep in this project but he is VERY motivated to sell and willing to negotiate. I don't want to lowball him and insult him but I also don't want to go near what he has invested because I want to make sure I have enough money to finish the restore. Any ideas on what a project like this is worth? Does the replacement tub affect the resell value? It looks like all it needs is a paint job, a carb rebuild, and time to put it all back together.
The Details:
-Frame restored and painted with POR 15 (w/welded on reinforcement)
-Original 15" aluminum slot wheels (rare)
-Primered new steel tub ready to paint (not yet installed on frame)
-Rebuilt 258 4.2L straight six (not installed)
-Restored 3 speed transmission and transfer case
-Original Levi Seats. Driver side ripped, passenger and rear bench in very good shape.
-Replacement soft top in OEM color/ in good condition
-Boxes and boxes of new parts!
He told me he is $10,000 deep in this project but he is VERY motivated to sell and willing to negotiate. I don't want to lowball him and insult him but I also don't want to go near what he has invested because I want to make sure I have enough money to finish the restore. Any ideas on what a project like this is worth? Does the replacement tub affect the resell value? It looks like all it needs is a paint job, a carb rebuild, and time to put it all back together.
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