Jeep to Replace a Jeep?

Well, if it were mine I would have a Jasper engine dropped in and if the body and paint is faded just have it repainted a color of your choosing. My first jeep I did just that and 30 years later my son owned her. It will cost you under 5 grand to have it done and no worries about a new but used jeep breaking down. Just a thought and you asked.

Phooey on Jasper.

I'd go with a junkyard pull gone through-since late I6s should be available-or build one myself, before a Jasper. If the tinworm hasn't attacked the body I would strip it to bare metal (Rand-O-Strip-expensive until you consider the time saved) and paint it the color you want. I would eschew basecoat-clearcoat in favor of a traditional polyurethane, I'd pick a common fleet color unless I was really hot and bothered for something specific and cool (around my area we see a lot of Fender guitar colors). (I'd also use a bettter-than-automotive primer grade-DIYers can still get zinc chromate). If rust perforation is significant-it's your money.

The problem with building project vehicles-it won't stop me but you should think about it upfront-is if your creation gets wrecked/stolen you get paid out on an old junker, not your "new" toy. With used vehicles cheap now uptrading might be more advisable. If you are not doing all or most of the work yourself, it's no question-sell and buy newer.

There's a thing in the insurance world called "agreed value". The Blue Book on my `79 CJ-5 is about $400, I'm going to have it appraised soon and have it insured for something closer to my replacement cost, about $5000.

Yes. This will work. You would go to a dealer and have the car appraised by the used car manager. He would then give you the replacement cost which would be what the owner gets from the insurance company.