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The Renegade is just a trim line AFAIK.

The 4.2 is OK, but it is not that great. A better carb fixes some of the problems. It has lots of torque, but no HP
The Rear end is likely a AMC Model 20. Factory were 2 piece axle shafts. A known problem. Simple solution is to have the one-piece shafts installed
What are the gears? Has it been regeared? I think factory was 3.31.
Check for rust. Aside from the obvious body rust, look at the rear spring mounts on the frame. They like to rust out.

Good Luck
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