Land Cruisers, in general, are great all-purpose vehicle. But obviously they excel at covering ground in poor road and offroad conditions. The 100 Series was the subject of much scorn in the LC community when it was announced, and for several years thereafter. No longer did it have a solid axle up front. The size was even bigger than the already-large 80 Series. And the complexities of nearly every system was the opposite of what enthusiasts had come to expect with the 40/55/60/70 Series.
BUT, Toyota delivered a good vehicle. Reliable. Tough. There were some teething pains in the beginning, but most of that was worked out over the production run 1998-2007 or in the aftermarket.
We owned an LX new from 2002 to 2013. It was replaced by the G550. I've been shopping (money in hand) for a 100 for about six month. Been looking for an early one that I can destroy as a winter beater. Prices have been steadily climbing. And rust is a huge problem.
I don't know where
@Dunnik is in the research/purchase process, but I suggest looking at Slee's Buyers Guide to give you an overview of the 100 Series.
Our Newbie Guide for the 80 Series Land Cruiser proven very popular, so we decided to compile one for the 100 series as well.
www.sleeoffroad.com
Cliff's notes: 5 Speed transmission and a slight HP bump arrived in 2003. Neither of which were a big deal. Then in 2006, HP was increased by 40 to 275, via variable valve timing.
In terms of reliability, these rigs are pretty darn good. There were some transmission failures in the early ones. Heater Tees and thermostat are
must-do if they have been neglected. If they fail, you will be stranded. If the infotainment screen fails in all but 06-07, you will lose control of the HVAC (IIRC).
Rust is a HUGE issue. As is the case for any vehicle which is exposed to winter driving.
The 100 Series frame will be the primary trouble area. As is the upper rear hatch. Look for rust around the hatch's window gasket, but especially around the release handle, which is a terrible design that allows the elements to enter the cavity of the upper hatch.
Additionally, look at the upper corners of the front windshield for poorly replaced glass. This one's another big issue, because leaks will happen if the job isn't done perfectly. And I'd guess that one in ten are done well enough to pass my scrutiny. The trim is really difficult to get back in place.
Timing belt and water pump. Often neglected. Won't destroy the engine, but will set you back about $1000-1200. I'd guess that at least half that are being sold today will need TB service.
Sunroofs tend to be inop due to lack of lubrication and clearing of the drains.
The AHC (height/ride control) system will fail. It's only a matter of time. Good maintenance will prolong the life, but expect to address the need sooner than later. All LXs have AHC. Most LC's do not, as it was optional in the very last couple of model years.
Watch for inop radio antenna. It's a bear to replace. Watch for inop power steering column. $$
www.IH8Mud.com is tremendous resource for all things Toyota Land Cruisers.
In terms of values. The production numbers of the Toyota and Lexus versions were pretty similar, IIRC. The Land Cruiser is vastly more sought out. I'd guess there's a 10% haircut for the LX. Due to the AHC system, and not having the Toyota badge.
My opinions:
Lexus models received better service for a longer period of time and they're generally in nicer condition.
The leather in the Lexus was nicer. And holds up a bit better. Replacements for either model are available from a number of vendors.
This is one vehicle where Odo shopping is virtually pointless. Prices for sub 100K mile examples are silly. And there's no real reason for it. They won't be collectible (unless it's a 2007 Land Cruiser, with no AHC and no navi).
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I was talking to a guy in Vegas who had a white one with rhino lined bumpers. Told him that I liked the UN look. He had no idea what I was even talking about. lol. The rig even had cloth seats, which is incredibly rare.
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This was just a random dump of thoughts. Take them for what they cost you. I'm up to about 20 years of LC ownership, which isn't very long, but I'm not wed to one series, unlike many people. I currently own 1967 up to 1997. And I'm looking for a cheap, clean 1998-2002 currently.
Good luck with your search. If you have any specific questions, I will be happy to help, if I can.