Lexus IS300 Buyer's Guide: The 2JZ Sleeper Nobody Fights Over

What should you know before buying a Lexus IS300? The first-generation IS300 (2001 to 2005) is a rear-wheel-drive sport sedan with a 2JZ-GE straight-six under the hood, the same engine family as the Supra, and the best examples to buy are the manual cars with a full service history. That's the short version of this Lexus IS300 buyer's guide. The rest covers which version to hunt for, what actually goes wrong, and why the Altezza and IS300 both belong on any JDM shopping list.

If you want to see what a properly finished one looks like before you start browsing classifieds, check out our featured Lexus IS300 build, a true JDM street and track legend. It's the best advert for this car we've ever run.

Quick Verdict: Which IS300 Should You Buy?

What Is the Lexus IS300 and Why Do Enthusiasts Want One?

The Lexus IS300 is the 3.0-litre version of the first-gen Lexus IS, known in Japan as the Toyota Altezza, and enthusiasts want it because it packs Supra-family engineering into a small, light and cheap sedan. The naturally aspirated 2JZ-GE makes around 215 horsepower from the factory, which won't set your hair on fire, but it's a famously tough engine with endless aftermarket support. Pair that with a rear-drive chassis and a seriously good build quality and you've got one of the great budget sleepers.

There's a cultural side too. The clear-lens tail lights on the Altezza were copied so widely that "Altezza lights" became a generic term for the look on almost any make of car. Whether you love that trend or hate it, it tells you how big an impact this car had on the scene. If you're deep into late-90s Japanese cars generally, the Stance Auto 90s JDM Classics magazine is our hottest-selling issue and it's right up your street, and you can grab it from our Amazon magazine store.

Which Lexus IS300 Is Best: Manual or Automatic?

The manual is the one to buy, because the automatic gearbox is the weak link in the car. The W58 manual gearbox is widely regarded as tough and will take plenty of abuse. The automatic, the A650E, has a reputation for slipping under power, and a rebuild can cost more than the car is worth on the cheaper end of the market. If you plan to add boost one day, that alone settles it.

Here's where it gets awkward. In the UK, IS300s were automatic only, and they arrived in tiny numbers from 2001. UK buyers who want a manual 2JZ usually end up looking at imports or at swapping a gearbox in. Over in the US, manual cars exist but they're the ones people hold on to. If you find a clean manual that has been looked after, don't haggle yourself out of it.

Lexus IS300 Buyer's Guide: The Pros and Cons of Each Version

IS300 Sedan (Manual)

• The best gearbox, the best driving feel and the best base for modifying
• Proven 2JZ-GE reliability when the maintenance has been done
• Rare and getting harder to find in good shape
• Clean ones don't stay cheap for long

IS300 Sedan (Automatic)

• Smooth, comfortable and easy to live with every day
• Plentiful, so you can be picky about condition
• The A650E automatic is the car's weak point
• Not a great foundation if you want big power later

IS300 SportCross Wagon

• All the sleeper appeal with a proper boot
• Unusual and popular with people who like practical builds
• Automatic only in most markets
• Harder to find clean examples

Toyota Altezza RS200 (JDM)

• Rev-happy 3S-GE engine and a lighter, more focused feel
• Right-hand drive and proper JDM credibility
• Smaller engine, so less torque than the 2JZ cars
• Import costs and condition checks matter a lot

What Are the Common Lexus IS300 Problems to Check?

The most common Lexus IS300 problems are a worn automatic gearbox, tired front suspension joints, a failing VVT-i solenoid and general age-related wear, so test all of them before you hand over cash. This is a reliable car by sleeper standards, and the engine itself is not the worry. What catches people out is the stuff that wears with age.

Start with the gearbox. On an automatic, a slow or slipping shift under load is a deal breaker unless the price reflects a rebuild. Next, listen for clunks from the front suspension, because ball joints and bushings take a beating on a 20-plus-year-old car, and replacing them properly is not a huge job but it adds up. Check for a rattle or fault codes related to the VVT-i system, which has a solenoid that owners commonly mention. Look at the dash too. Owners talk about the dashboard going sticky with age, which looks awful and is a pain to fix.

Then there's the boring but vital stuff. The 2JZ-GE uses a timing belt, so ask for proof of when the belt and water pump were last changed. If there's no paperwork, assume it's due and budget for it. Finally, check for rust around the sills and wheel arches, and look hard for accident damage. These are rear-drive cars and plenty have been thrown into a hedge by someone showing off.

Can You Turbo a Lexus IS300?

Yes, you can turbo a Lexus IS300, and it's one of the main reasons people buy one. The 2JZ-GE is the naturally aspirated sibling of the legendary 2JZ-GTE, and plenty of owners have turned their IS300 into a 400 horsepower street sleeper with a turbo kit, supporting fuel parts and a proper tune. The tough W58 manual box is the right partner for that kind of power, while the stock automatic is likely to struggle.

Just remember the usual rule. Power is only the beginning, and the best IS300 builds spend as much on brakes, cooling and suspension as they do on boost. If you want ideas, our best mods for the first-gen Lexus IS300 guide covers what to do and in what order.

Is the Toyota Altezza Worth Importing?

Yes, if you want a right-hand-drive JDM version and you're willing to pay for condition, the Toyota Altezza is a great buy. Per JDMBuySell, the Altezza ran from 1998 to 2005 and came as the SXE10 RS200 with the 3S-GE BEAMS engine, the GXE10 AS200, and the 2JZ-GE-powered AS300 Gita wagon, which was automatic only because the gearbox couldn't handle 2JZ torque. They also note US import legality arrived under the 25-year rule, and that the market range is broad, so shop around and inspect carefully.

If you're stuck between the two, our comparison of the Lexus IS300 vs IS200 is worth a read before you decide.

See It Done: Real IS300 Builds

If you want to see what owners actually do with these cars, check out these featured builds from the magazine.

• A 2JZ-swapped Lexus IS300 wagon, a JDM masterpiece
• Michael Le's boosted 2002 Lexus IS300
• A 2002 Lexus IS300 SportCross OEM+ build

So, Is the Lexus IS300 Worth Buying?

Yes, a good Lexus IS300 is one of the best-value sleepers going, as long as you buy on condition, prefer a manual and check the gearbox, suspension and timing belt history. That's the honest conclusion of this Lexus IS300 buyer's guide. It's a car that looks like a normal sedan and drives like something special, with a 2JZ heart that gives you a build path as sensible or as wild as you like.

Buy the best one you can afford rather than the cheapest, and don't be put off by high miles if the paperwork is there. The 2JZ-GE has a reputation for going the distance, and that is the whole point of this car. For a second opinion on what to look for, ThreePiece has a handy buying guide that agrees with the gearbox warning.

Related Reads

• Best mods for the first-gen Lexus IS300
• Lexus IS300 vs IS200: which is the better JDM sleeper?
• JDM vs Euro: Lexus IS300 vs BMW 3 Series
• 2JZ-GTE build guide
• What modifications can you do to a Lexus IS200?

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