How long have you been shopping, and how many have you test-driven so far w/ similar pricing?
I think if you test-drove 4-5 at the same price but newer, you'd easily pass.
You need to try out a few others at that price to see what you'd be missing out on.
I paid $9,800.00 for my 2003 in July this year, 100K, excellent condition all around, single owner, all records, drives like a dream, win win win.
That is a nice looking 4 runner. I would not give him 10,000 dollars for a vehicle that is 17 years old regardless of condition. I think you could find a better deal. I paid less than that for my 04 2 years ago...granted it had more miles. Good luck with whatever you decide to do.
If it actually only has 96,000 miles on it, and it is in good condition, 10 grand is not unheard of.
He probably won't get that locally, but a good condition, low mileage 17 year old truck starts gaining value at some point, it's up to the market to figure out when.
You can't compare it to a higher mileage 4th gen, because there are a lot of those around, there aren't a lot of low mileage 3rd gens left.
It might be worth 10 grand to you, as long as you understand what your 10 grand is getting you, if you plan on driving it regularly, you will have to put more money into it.