I purchased the 94 Grand Cherokee in July 2001 and the transmission went out in August of 2001. I paid 1300.00 to fully rebuild it, however, in April of 2004, the transmission locked up again, and this time I paid 1500.00.
Other problems include; leaks from the rear vent, leaks from under the passenger side, which would leak water onto the passenger's foot.
Another problem that it has is that the alternator cannot recharge the battery, it took two brand new batteries and a rebuilt alternator to realize that in fact it was the computer that is faulty. It was bypassed, and now I do have full power, however, the interior lights dim and blink when I use them.
Also, today I was haunted with the discovery of my anti-freeze+water laying in the driveway. Apparently, the water pump went out and it's shooting anti freeze from under the engine when turned off. And the engine shuts down every now and then.
Last summer, one of the pulleys jumped clean off the engine, the starter went out, and it has a hard time picking up power. This V8 was definitely the worst vehicle that I have ever encountered. I paid more in repair than what the car is worth. I am very dissatisfied with Jeep and their poor efforts to put together the 94 Grand Cherokee.