The Cragar Soft 8's are 16x7 5 0n 4.5 with 4" Backspacing, the Cragar V5 is 16x7 5on4.5 with 4.5" Back spacing, so woulnd't these be a better fit for the Libby? Thoughts? Advice? Anyone running the V5?

FIND THE HERE
http://www.quadratec.com/products/92602_4XX_B_PG.htm

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2002 Jeep Liberty Limited aka "The Repo"
Support your local Repo Man-Miss two payments

depends on lifted or not, what size tires, type of tread, and a few more things.
But in "most cases" if lifted then yes

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MUDD'S MOTORSPORT'S We do IFS lift installs ,
03 OVERLAND EDITION /Kilby-Skidrow-Mopar-4XGuard skids/ 2.5 inch TOTAL CONTROL JBA coilovers -JBA Arms/MOABS-31 FALKEN WILDPEAK AT3W / 4.10's etc, 04 Kilimanjaro Edition loaded, plus 05 KJ limited

In a typical set up, 2.5" lift-245/75/16 Federal Courigia.

I was thinking that the 4.5" backspacing would be better than the 4" Backspacing dur to the factory BS being 5.5"

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2002 Jeep Liberty Limited aka "The Repo"
Support your local Repo Man-Miss two payments

Most all use the 16 X 7 with 4 inch backspacing as you know, minimal rub on the sway bar etc with that size and back spacing
really the difference is not that much but I would think thats where your problem will be ( rubbing on the sway bar when fully turned )

_________________
MUDD'S MOTORSPORT'S We do IFS lift installs ,
03 OVERLAND EDITION /Kilby-Skidrow-Mopar-4XGuard skids/ 2.5 inch TOTAL CONTROL JBA coilovers -JBA Arms/MOABS-31 FALKEN WILDPEAK AT3W / 4.10's etc, 04 Kilimanjaro Edition loaded, plus 05 KJ limited