3rd Gen Pajero / Montero years to avoid, and the best years to buy
Every Mitsubishi Pajero / Montero (Third Generation) model year: which ones owners and specialists recommend, which have documented problems, which carry recalls, and what they sell for now.
At a glance
3rd Gen Pajero / Montero year by year
| YEAR | VERDICT | WHAT CHANGED |
|---|---|---|
| 1999 | — | Third generation goes on sale in Japan (Mitsubishi gives 2 September; Wikipedia gives 2 August for its introduction). Monocoque with built-in frame, four-wheel independent suspension, Super Select 4WD II, 3.5 GDI V6 and 3.2 DI-D diesel |
| 2000 | — | Australian NM launched with the 3.5 V6 and carry-over 2.8 4M40 diesel. Mitsubishi enters a T2 rally car based on the new Pajero at the Dakar |
| 2001 | Recall | First US model year: Montero XLS and Limited, LWB only, 3.5 V6 (200 hp). Consumer Reports rates the Limited 'Not Acceptable' in June. US recall 01V254001 for the brake-booster accumulator (2001–02). Kleinschmidt wins the Dakar |
| 2002 | Sweet spot | Australia: the 3.2 DI-D replaces the 2.8 diesel and can be had with the five-speed auto. Owners recommend the diesel over the petrols and praise its durability |
| 2002–2004 | Recall | US recall 04V319000: fuel-tank leveling valve can leak when parked nose-up with a full tank |
| 2003 | — | Facelift. US Montero gets the 3.8 6G75 V6 (215 hp per BaT) and M-ASTC; 20th Anniversary Edition. Owners say the XLS was dropped after this year |
| 2004 | — | Electronic traction control added in Australia. ANCAP tests the Pajero Exceed |
| 2005 | — | Japan: the 3.8 V6 (219 PS) arrives in the Super Exceed in November, replacing the GDI V6 |
| 2006 | — | Final US model year for the Montero. The fourth-generation Pajero launches in Japan on 4 October |
“Sweet spot” means owners and specialists recommend those years; “Beware” means documented problems; “Recall” means check the recall was done rather than walk away.
What a 3rd Gen Pajero / Montero costs (October 2026)
Third-generation Monteros are still cheap; clean, low-mileage Limiteds are the only ones that break $15,000, and Japanese diesels are just starting to arrive.
| Project / high-mileage | $3.5k–6.5k |
|---|---|
| Driver | $8k–14.5k |
| Excellent / low-mileage Limited | $15k–20k |
Based on 24 third-generation Montero and Pajero sales on Bring a Trailer from February 2022 to August 2026, from $3,750 (a 2001 Limited) to $19,777 (a 54k-mile 2001 Limited), median about $12,500. A 225k-mile 2003 20th Anniversary Edition brought $5,200 and a 1999 V68W 3.2 diesel import $14,600. JDMBUYSELL's seller-reported median for imports is $12,183 (n=6).
Recalls by year
- Hydraulic brake booster accumulator can leak ↗ 2001–2002
- Fuel tank leveling valve may leak ↗ 2002–2004
- Tire and loading label capacity weights wrong ↗ 2004
- Bilingual airbag warning labels too small ↗ 2001–2004
- Owner's manual missing tether-strap headrest instructions ↗ 2001
- Passenger-side exterior mirror non-compliant ↗ 2001
Best years are buyer consensus from owners, specialists and forums, not spec sheets. See all Pajero / Montero years to avoid across every generation.