Things to look for in a used Montero.

off-roader

Expedition Leader
All belts/hoses/Water Pump/Tensioners/Pulleys possibly including the main pulley bolt with the newest factory replacement. On Montero's there's a TSB to replace them with the newer ones because the older ones break.

The TB should be done every 60K but easily last to 100k.

Possibly a tune up since the plugs installed should be 100k iridium plugs or the longest lasting ones available since the tune-up is not easy to do.

Possible the valve guide seals are worn allowing oil into cylinders causing blue-ish dark smoke during a cold startup or when warm, after idling for 3-5minutes (rev to check for smoke). Can be done w/out removing the heads to do the valves but the shop needs to know how to do that. Many if not most, don't know this procedure and it's not outlined in the mitchell/alldata manuals they typically use.

Inspect and if required or questionable, replace ALL fluids (coolant, engine oil, diff oils, transmission fluid, transfer case fluid). Make sure you use the correct tranny fluid. If you don't you will be paying for a transmission rebuild guaranteed.

Check the radiator for calcification in it's passages. If calcified, have it rodded out or replaced with a new metal radiator (not a cheapie one with the plastic tanks & aluminum fins either).
 
I recently just purchased a Montero, and the thing i would recommend is just drive as many as possible so you can get a feel for them. I think I drove about 12 different Montero's ranging in years 1991-2003 and surprisingly the one that drove the best was the 1991. The 2003 felt heavy and it was sooooo slow. The 2nd gens I drove were all pretty beat but the first gen I came a across was well cared for and had a freshly rebuilt motor.

If you drive enough of these things you will come across one you will fall in love with.
 

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