timing belt or chain?

Posted by independent_Chain509@reddit | askcarguys | View on Reddit | 17 comments

I recently bought a 2004 Toyota 4runner v8 4.7 sport edition 4wd that has 261k miles on it, a few days later while looking for things that needed to be changed in my car the timing belt came to my attention, first I didn't know if it was a timing belt or a timing chain, after doing some research I found that the 4.7 v8 engine has a timing belt, so I called the ex-owner to ask him when was the last time that he changed it, and here the surprise and the confusion, he said he never changed it he said you don't need to change it, so now either the engine I have is 1 of 1 and this one has a timing chain or the timing belt right now is holding to dear life or it wasn't his car for a long time and he doesn't know what he's talking about ( I bought the car with a really good price and everything on the car is good ), so now I'm confused, what do I have to do? also, he mentioned that he changed the transmission oil once when it had 161k on it, do I have to change it again? if so, when? and the differential oil was never changed btw, do I have to change it? I'm kind of lost.

ps: he doesn't have any paper on when was the last time he changed any of these things.