I was a regular here 3 years ago with my olive drab 1990 Tracker.  I am possibly buying a 1992 Tracker tomorrow.  It had 144,000 miles and is a 4x4 with automatic transmission.  It seems to run and shift well.  It is 98% rust free.  The only rust I found was in the typical spot under the rear carpet but it was very small, especially compared to what my 90 had.  It has working air conditioning.  The top is in bad condition.  The entire exhaust system and brakes are new.  The known issue it has is that both hubs are hard to turn.  When in 4x4 the hubs do not engage.  I did confirm that when in 4x4 mode the front half shafts do turn, so the transfer case is functional.  Does this indicate the problem is only in the hubs?  Is there anything else I should check with regards to the 4x4 system?  I did take a hub apart on the 90 so I know I can do that.

The price is $1500 firm.  Should I jump on it or not?

It's very shiny.  I suppose the real question is if you want to start building another rig or not.

Fix the hubs, fix the top, leave it stock and drive the hell out of it. Gas prices are going up again, 28mpg sounds pretty damn good right about now. It sure looks good.

Another issue is that the front driveshaft has a layer of oil spray on it.  The owner said that when he bought it the valve cover bolts were finger tight.  He tightened them and power washed the engine but not the undercarriage.  He claims it hasn't been leaking since.  I hope the oil is just leftover.  I'm kind of thinking that even if this Tracker were to develop any mechanical issues it is still worth it because the body is so clean.  It near impossible to find a Tracker this clean around here.

Then go for it.  If nothing else you have a toy to get you through the upcoming winter. 

If I were in the market, I'd be all over this one.  This looks like a great deal.  The hubs sometimes get gummed up and don't lock as they should.  Most of the time, taking them apart, cleaning and lube them is all it takes.  If they are toast, aftermarket hubs are not too expensive. 

If the valve cover is not the oil problem, it could also be the timing cover seal.  Those tend to leak on the 8V, and it is not a big deal.

   

I got it home tonight.  I ran well but the oil smell is strong.  I'll have to degrease everything and find the leak.  I took the driver hub apart tonight.  It was very stiff but after spraying with carb cleaner it loosened up.  I then lubed it with white lithium grease (what I had) and put it back together.  It now engages and disengages but is still hard to turn.  But at least the 4wd system will be functional.

Jzap check your PMs.

Congrats. 

Great buy!
Remove the carpet & spray the floor with ATF fluid to stop the rust.

Welcome back to the addiction. While you were out, 2" spacer lifts have cropped up everywhere for a very reasonable price. Cheap way to stuff bigger tires if you're into that kind of thing. I believe you have the 4.xx diff gears, and can run the (stupidly common / cheap) 5.125 gears to make up some of the difference.

Is Digger still making his spacers?

I don't know if Diger is but I am. 

I don't know if Diger is but I am. 

I'll keep that in mind.  I was reading about yours today.  On my 90 I ran no lift and 235/75/15 muds and it worked pretty darn well.  I have to decide what I'm going to do with this one.  In your experience how difficult is it to get everything unbolted to install the spacers?  I image 17 years can take it's toll on the bolts.

It alll depends on where you live, salt, snow, sand, etc. I just put a lift on a 2002 tracker and we had to cut 1/2 of the bolts with a die grinder. That being said, we just went up and got alll new bolts and it worked great. PB blaster works good though.

That's a great looking little truck.  A rust free body is way more important than an engine problem.  Engines can be pulled, repaired or swapped.  Rusted body pans and panels  are a different story.  The oil on your axles may be from worn axle seals on the diff housing OR the PO may not have cleaned all the oil off the frame after oil changes.   The truck is probably due some new front struts anyway and maybe even strut mounts so when you get around to it, hose down all the bolts and threads with PB Blaster for a couple days before you actually begin the parts replacement, then install a set of Jeff's spacers when you change the struts, flip the top strut mounts and throw on some new shocks on the rear and you are ready to roll with a much improved ride.  Pre-soaking the bolts and threads a couple days prior doesn't gurantee a trouble free removal but it sure helps.