It depends on what is wrong with the Cherokee. It can be worth good money depending on the mileage and how much money you have into it. If you have big tires and rims it will bring the value up more than if you just have stock. If it has 4 wheel drive it will be worth more also.
Well for an accurate price you should check one of the many vehicle price guides. I recommend Kelly's Blue Book since they have a website to look for free.
