I've owned both a '99 Discovery II and a '95 Discovery I, and now a '96 TLC FZJ-80. There is no comparison. I've owned Toyota trucks/4Runners since 1991 and am very loyal to the brand.
As a simple comparsion, check out the topics of posts on this board vs. Discovery boards (
www.discoweb.org) and perhaps you will notice what I did. Land cruiser boards such as ih8mud.com (and toyota boards in General) are filled with posts about modifications, customizations, etc... and posts about fixes/repairs. Posts about fixes/repairs, while present, are not as numerous. Look at a Land Rover board, and it's full of posts on the same types of repairs over and over--service engine soon light, check engine light, sticky valves, electrical problems, leaky problems, blown suspension air bags, ABS lights, leaky sunroofs, malfunctioning sunroofs, ABS turning on at inappropriate times, weak front drive shafts causing lots of carnage, rust, expensive parts, hard to find parts, more electrical problems, and more leaky problems. And oh yes, some posts about modifications/customizations. The point is, people seem to spend more time talking about fixing their land rovers than they do actually using them and customizing/modifying them. I bought two land rovers hoping "I would get a good one" and not have those issues, but alas, I did. Whereas with Toyotas, we seem to have more free time/money to put into catagories that don't fall into repairs/fixes.
Yes, Land Rovers are cheaper, but there's a darn good reason why. I thought I was getting a sweet deal on a 6 year old Disco II with under 100,000 miles, fully loaded with all options including ACE, heated windshield, jump seats, 18" wheels, etc.... But, there was a reason it was being sold so cheap. They suck! Luckily, I wasn't the original owner. The previous owner was the original owner, and the sticker price was $43,375 on my Disco II before taxes and registration. He paid cash. I bought it for $6000 at only 6 years old. You will NOT find a '99 Land Cruiser for that price unless it were severely totalled. The good news is, the Land Cruiser will continue to hold on to it's value. While yes the purchase investment is more on a Land Cruiser, you will get it back in the end when you sell it. Even when new, Discoveries and Cruisers are priced about the same. It's pretty sad that a Disco will depreciate to half it's value in only a couple years. Heck, I sold a '99 Honda CR-V just recently and it was worth more than the '99 Disco II, despite the fact the CR-V was very basic and started out new at less than half the price of a new '99 Disco II. I bought a couple Land Rovers because they looked cool and had lots of cool features. However, the headaches and money that go along with it are just not worth it.
IIRC, the Disco and Cruiser weigh about the same (e.g. heavy!), both have underpowered motors though the v8 in the Disco is even more underpowered, and the 4WD capability is the same. Both are permenant 4WD with more of an AWD mode when in high range, meaning the center diff is unlocked. Both have a low range that locks the center diff. The Disco does NOT come available with OEM front/rear locking differentials. The TLC does. The earlier TLC FJ-80's come with a center diff lock switch to lock in high range, and the later years can easily have a switch added. Meanwhile, the Disco I's have a figure 8 center differential lever allowing high/low and lock/unlock. Early year Disco II's do not have the option of the diff lock in high range, while a fairly simple transfer case modification can be made to get it like the Disco I. The later model Disco II's have a different transfer case that isn't modifiable and you would have to swap in an older transfer case. Lastly, the Disco's of any year have very small wheel wells and much trimming/lifting needs to be done to fit larger tires. TLC's are much easier to lift. So, if anything, the TLC has a more capable 4WD.
If you want to get there in style, drive a Land Rover. If you want to get back home, drive a Land Cruiser.
If a Land Rover isn't leaking fluid, pull over because it all leaked out already.