No, this sound excessive to me and would be in my area. OEM type rotors are around $100 for the set of 2. Pads are around $50. Labor should be around $130. So a price of $250-$300 would not be excessive.
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how to replace break pads on 2001 4runner
At http://www.pepboys.com/parts/brakes/overview/ you can purchase brake pads are rotors for your vehicle. If you spend 100 dollars or more you can save 20 dollars using their coupons.
If it is a Toyota, they do not know how to fix the squeaking brakes either. Even after replacing all the pads and machining the rotors and rear drums
How_much_does_it_cost_to_replace_brakes_and_Rotors_on_a_1992_Toyota_Camry
There is no need to spend the money if it doesn't need done. Typically your rotors last longer than your brakes do anyway, so you should be fine for a while.
A common reason is that the front rotors have warped. Go check out WikiAnswers on the topic of "warped brake rotors". Rotors should wear out smoothly in normal driving. Use of the brakes that generate lots of heat (hard braking, riding the brakes) will result in warped rotors.
If you need to replace the pads only, it can cost about $20 and more depending on state and city. If you need to replace rotors or/and calipers, it might cost $400 to $500 on average and more.
you might have to bring it to a brake lave to size up the rotors and brake drums.
Your rotors had the grooves before, from the old pads. You should have had them turned. Next time check rotors at time of fitting new pads. If you can see or feel grooves then they should be repaired.
Answer: Most likely warped rotors. This can be eliminated by either having the current rotors machined or replaced (or both if manufacture recommends it). Visit your local dealer or brake specialist.
It depends on what type they are, but a rough estimate is about thirty to fifty dollars without the rotors. If you need rotors, it will cost $100 plus.