New to the forum but already really impressed with the information and quality of posts. So I am considering purchasing a 2000 SR5 4runner with about 121k on it. The vehicle is in excellent condition over all but the only hitch is the check engine light in currently on and according to the owner a P0755 code which I know is a solenoid transmission related error. Apparently the light has been coming on and off intermittantly for some time. I haven't pressed the owner for more info yet other than what have you found out about this issue from your mechanic and why can't they seem to resolve it.? The owner says the vehicle shifts flawlessly and no issue other than that code and I will determine that myself after a test drive. What should I be asking or looking for to get to the bottom of this issue? Assuming it seems to run and shift fine at all speeds would you consider buying a 4runner with this issue or just walk away and keep looking? I am not a mechanic by any stretch and wondering how often this type of code means major tranny issue or more likely a wiring harness, connection or solenoid issue. Any advice is welcome.

I would ask to run it by your mechanic. Get a quote and either give him the option to fix it before purchase or ask him to be prepared to take the estimated repair costs off the price tag. Just my opinion for starters.

Agree, I'd have it checked out. At least the owner is being honest about it with you and not resetting it and hoping you don't find out until after you've bought it. Get an estimate to get it repaired and use that to negotiate a price if you still think it's worth buying. CEL codes don't just occur when nothing is wrong. Sometimes they represent a real issue, sometimes it's because a sensor is failing. In my mind, both are problems and should be addressed.

Knock off $3k off the asking price so you can have the transmission rebuilt or replaced.