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How much is a 1997 Land Rover Defender worth?

I'm looking into buying a Land Rover Defender 100 Hi-Cap that I've seen. It's 1996/1997, 100,000 miles on the clock and they believe it has had an engine rebuild at some point. It has a 300TDI engine in. It's a 2.5L Turbo Diesel. What do you think I should pay for it?

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Defender prices vary dramatically and are based on condition more than anything else (such as age or mileage). The pick-ups aren't as desirable as the station wagons but the 300TDI engine is popular with enthusiasts for its simplicity. Depending on the condition (particularly how rusty it is), it could be worth anything from around £3000 to £8000. Assuming it's in average condition, it's probably somewhere in the middle.
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