Hi Drew, first off good on you for doing your homework. Anyone who picks on you is just being a dick as you've clearly gone to some length to educate yourself which we here appreciate.
If all is good apart from the transmission then at the very worst case scenario you will be looking at (parts only, prices from Bell Engineering):
- Reconditioned IRD, £650
- Reconditioned VCU and new bearings, £230
- Props from ebay £100 ish. Shop around on that one.
- Maybe rear diff too but unlikely, £350
So potentially a big expense, I would say don't pay over £1500 for it I reckon. In fully working condition it's worth about £3k from what I see on autotrader. So if that's within your budget and you can say for sure you can afford the new parts then you may be safe. You'll be no better off than any of us though, Freelanders can be demanding and need to be regularly maintained. The good thing is that if the rest of it really is good then you can repair it bit by bit while it's in 2wd - just take it easy around corners and dopn't expect it to go through rough terrain without 4wd!
What usually happens when we get a new owner here (as I once was) is they bring us a lemon that needs loads of work, then they either spit their dummy out and blame us or read up and get busy with spanners. 9 times out of 10 the ones who stick at it and don't behave like children will have it in mint condition after a few months and it'll be a top performer.
As I've said before, the problem with Hippo's is that often we get them with alot of baggage due to negligent ****s and clueless yummy mummy owners. Once you undo that damage you will have a fantastic motor that will last longer than any of these new Land Rovers as long as they keep making parts for 'em. There is a thriving reconned parts market too, so you'll be fine.
If you don't want to get dirty, or you don't have a fat wallet to pay garages (who are usually ****e IME), steer clear
.
See you around,
Will.
