When I started my search recently I found multiple videos and forum posts about how unreliable LR's are and how reliable the Toyota's are; but, these same discussions and comments never mention the price disparity. I think either vehicle can be a good buy depending on the owner's mechanical aptitude and desire/time available to turn a wrench.
Toyota without a doubt can last a long time, But so can most modern vehicles these days. I will say that Toyota owners will be the first to tell you that they will last forever and buy one now.
Land Rover owners will tell you how unreliable they are but always manage to reference consumables and older land rovers.
The Ford 5.4 Triton V8 has known to hit well over 400K with little maintenance. you will have replaced the transmission at least once though.
My 86' FJ60 had a cracked block at 248K and was rebuilt. 4th gear packed it in at 268K. The head gasket and head were done at 220K.
Older 4Runners (late 90/early 2000) had head gasket issues.
There are guys in the UK with v8 LR3's and over 300K on the clock and general maintenance on the engine.
Lets not ever talk about the GM LS motor.......most have well over 200K and are going strong.
Maintenance is the key to any vehicle. the 4.4 in the LR3 is one of the better engine JLR made. When I bought mine the mechanic I talked to t,old me outright that not to worry about the engine. Check that the maintenance was done and that overall it has been maintained.
Control arm
Ball joints
brakes
batteries
Clutch
Alternator, waterpump AC compressor and so forth
Are all consumables. At least the LR3 lets you know when battery is going bad as it will drop to the bump stops and throw a ton of errors (this is a huge misconception on lots of people saying they have electrical problems when all it needed was a new battery).
Reliability should be based on big mechanical not consumable, but most do not see it that way.
If your vehicle is in the shop because your ebrake stopped working (electrical ones have an override), or your window does not go down, this is not reliability issues.
If it is the shop because it cannot start, or died on the side of the highway to to some stupid sensor, this is a reliability issue and one any and most vehicle have.
90% of Toyota reliability claims are the engine did no pack it in. They do not account for anything else.
My FJCruiser for example the rear door sagged, the shifter locked up and I had to get it serviced, the ebrake failed, etc etc. Ph and it was under powered. LOL.
Discovery 1 and 2 aside from electrical issues (lots) the 2 had issues with the cylinder sleeve slipping rendering the engine useless. This is a reliability hit for Land Rover over all.
No vehicle is perfect. Yes there are some that are brutally crap. But most modern ones if maintained will live well past the 200K-250k mark.
Toyota parts are nor more expensive than Land Rover parts these days. and LR parts have dropped a lot now almost 50% for some.