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Newer is generally better for safety equipment, but the body-on-frame layout and running gear have stayed consistent across recent years, so a well-maintained older example is a perfectly reasonable buy.
A Toyota Prado sits at similar money and comes with an even larger local parts and service network. The Nissan X-Trail is cheaper if genuine off-road capability is not the priority. Within Mitsubishi's own range, the Pajero shares much of the same underlying engineering under a different name, so cross-check both before settling on one.
The cars we inspect here run a median of around 100,000 km with nothing unusual turning up, still early in the working life of a chassis built for this kind of duty. High mileage on this model tends to reflect use, not neglect.
Book an inspection on any Montero before you buy — a vehicle built for hard use deserves a hard look before you hand over money.