If it's still running, don't fix it. The top always ticks. If it has a tick or knock from anything oil related, the crankshaft and dohcs are likely done anyways, just try to take care of it while it's putting out power. Wait for the knock to get really bad (but before a rod goes through the block) and to give you a reason to spend an arm and a leg. You'll still come out ahead in cost vs any late model low mileage FJ. Just go with high mileage synthetic and strong maintenance, and understand that these engines sound horrible up top from the factory. If you want peace of mind, take the valve covers off and clean the cams, under that plastic cover is a relatively accessible engine, just make sure you get a gasket/seal kit to avoid oil leaks.
If they didn't replace the guides (the actual main wear part) when they did the timing chain, that's why it's loose, as long as it hasn't skipped a tooth and is enough in spec not to, wait until you can learn to do it and the guides yourself. It's really just a ton of bolts, some basic procedures, and not rocket surgery, and not worth paying a mechanic who has never done it before on an FJ, either.
Don't bother resleeving or rebuilding them unless you want more performance and got a fat wallet, people crash 4.0 Tacomas and 4.0 4Runners everyday with the same engines. Jasper has the correct price for a reman of these engines, but a used junkyard engine from a crash likely will output similar performance. You can probably get something rear ended for way cheaper if you look, because these engines are rarely replaced outside of flood damage. I used to have a junkyard engine just sitting around rebuilt from a leaking intake manifold and waiting to go, and never needed it.
I got a 2007 I've owned since new, and it's always run rich, put out black smoke under heavy load (max towing under acceleration), and ticked like a cummins. It's just how those 1GR-FE first year FJs are. Mine has 180,000 miles, I'm **** at maintenance, and it's just works, better than a Todd Howard product.
TDLR: Find a better local mechanic.
If they didn't replace the guides (the actual main wear part) when they did the timing chain, that's why it's loose, as long as it hasn't skipped a tooth and is enough in spec not to, wait until you can learn to do it and the guides yourself. It's really just a ton of bolts, some basic procedures, and not rocket surgery, and not worth paying a mechanic who has never done it before on an FJ, either.
Don't bother resleeving or rebuilding them unless you want more performance and got a fat wallet, people crash 4.0 Tacomas and 4.0 4Runners everyday with the same engines. Jasper has the correct price for a reman of these engines, but a used junkyard engine from a crash likely will output similar performance. You can probably get something rear ended for way cheaper if you look, because these engines are rarely replaced outside of flood damage. I used to have a junkyard engine just sitting around rebuilt from a leaking intake manifold and waiting to go, and never needed it.
I got a 2007 I've owned since new, and it's always run rich, put out black smoke under heavy load (max towing under acceleration), and ticked like a cummins. It's just how those 1GR-FE first year FJs are. Mine has 180,000 miles, I'm **** at maintenance, and it's just works, better than a Todd Howard product.
TDLR: Find a better local mechanic.