Thanks for the info. So 240k without major mishaps is not unheard of on these vehicles?
They're asking 9k, but I might be able to get it a little cheaper. At what mileage is the timing belt supposed to be changed?
Timing belt is supposed to be 90k. I did mine at 118k and it was fine. Look on the timing belt cover, if it's been changed there will be a sticker on it that shows the mileage when it was changed and the date.
Many shops will quote you a lowball price of ~$250 - 300 to do a T-belt but trust me, that's just the beginning. By the time they get in there and replace the water pump, any broken or worn pulleys and other assorted seals and things, you'll be looking at $800 easy. OTOH, once you're done with that you should be good for another 100k or so.
IMO $9k is too high for that kind of mileage, but it depends on whether you really want the limited features. IMO the best things about the limited are: (1) multi-mode 4wd, (2) automatic climate control and (3) rear locker (usually.) I'm not a fan of sunroofs (too many horror stories about leaks) and the leather/wood stuff is not a big attraction for me. Also, regarding the rear locker, remember that if you buy a 4runner with an open rear diff, you can add a rear locker for not too much $$.
Now, if your main attraction to the Limited model is the multi-mode 4wd (it would be with me) then you can go for a 2001 - 2002 SR5. They all had the multi-mode, but the downside is you can't get the rear locker. You can typically find an 01-02 SR5 for less than the $9k they're asking and with lower miles, too.
Then drop at most $1k to add the rear locker (ARB or similar) and you have the functional equivalent of a Limited but without the high price. Just a thought...