We are new to land rovers and have been researching them a lot as my wife has decided she really wants an older one (older body style). We found an 04 disco that has been meticulously maintained with 78k miles on it and had a complete engine rebuild, new engine has only 8k miles on it. We are not looking to buy another car for 8-10 years so we want to make sure this one will last and is worth the price. Price is 14k. Does that sound high? Is the engine rebuild alone worth the higher price? We found a great mechanic in the area that works on LRs, which I know is important. Any and all opinions are appreciated from people who know Rovers. I have plenty of opinions from people who don't know rovers that think that price is too high. Thanks in advance

 

Ya that price is quite high. And as much as I love these trucks, if you dont want to buy another truck in 8 years a disco might not be for you. These trucks are getting older now and are definitely starting to show their age. If you were mechanically inclined I would say go for it, but not for $14k. But if you are paying someone to fix it I honestly cant recommend an older rover. Bills will add up QUICK.

 

Location also plays a factor into the price but, yes to me that price is a bit strong.

 

It's hard to criticize someone else's price fairly. They are free to ask anything they want, and you're free to pay it or not. An '04 Discovery is typically worth up to $5K. The Kelly Blue Book range is about $3K to $7K, and the 7 is for a fully-loaded HSE7 in the highest possible condition.

A 14 year old vehicle that needs an engine rebuild but does not have it is not worth much at all. Let's say the '04 was yours, but it needed a new engine. You might be able to sell it for $500 or part it out. Or you could replace the engine and then it would be worth about $5K again. Repairs don't add value to a car. They just maintain the value.

Also bear in mind that if you spend $14K on a Discovery II it will not be the end of the expenses, not by any means. If the engine was rebuilt, good. Notice it was rebuilt even though there is only 78K miles on the car. That should give you a clue about the neediness of these vehicles. Expect problems from the wheel hubs, brakes, brake booster, and engine cooling system, water pump, clogged radiator, slipping fan clutch, falling headliner, ripped seat bottoms, O2 sensor failures, broken catalytic converters, saggings springs, worn shocks, broken axles, split CV boots, leaking power steering hoses, failed steering box, broken fuel pump, and on and on.

Most Discovery 2's (all years) sell for around $2000 - $3000. But people who buy them frequently have to spend well over $10,000 to keep them running for several years. Some sellers wish to get back some of what they've spent on it. They might have spent $20,000 on it, and hope to get back $14,000, but it's not worth that.

 

$14k sounds high, but that said a very low mile Disco is valuable. My opinion, based on buying, driving, and selling 10 (see my signature):

Pros:
Low mileage means trans, transfer case, axles, windows, are not likely to give much issue.
Engine rebuild is a plus - newer head gaskets are good to go for at least 150k as long as the engine is not overheated.
Disco is much simpler than new vehicles - no VANOS, no 8 speed transmission, no IRS with CV joints, etc. Due to the simplicity, service cost is lower than modern overhead cam vehicles
Disco's are durable when cared for. My current fleet has one at 236, one at 219, one at 170k - all on the original engine, transmission, transfer case, axles, seat leather, ABS units, brake calipers, shocks, injectors, and much more.
Parts are increasingly available, both aftermarket and used.
Knowledge base is very high at this point.
Much cheaper than a new car or even a used car that is newer with similar mileage

Cons:
Price is a bit high
Disco reliability can be argued, but in my experience as long as oil changes are within recommended intervals, and the vehicle is not overheated there will not be major issues.
04 is the worst year for engines, but this one has been replaced. More details on engine rebuild might be good. I would want to know the block provinence, any machine work done.

General recommendations:
If you want to make sure it never overheats:
Replace all cooling system plastic that has not already been replaced - hoses, tank, radiator
Change to green coolant
Check the coolant level religiously once a week, every hour on a long drive.
Exercise the windows and sunroofs once a week minimum - they stop working because of condensate in the motor that causes rust and accumulates without use.
Lock the doors as little as possible - those and the starter are the only motors that the brushes actually wear out - usually about 120-140k.

If it was mine, I would probably as $8k, not $14k. You could buy a medium mileage Disco for about $3-4k and pay a reputable LR shop to put a rebuilt engine in it, total investment about $7-8k.

Good luck with the purchase.