2001-2005 Lexus IS300 Buyer's Guide (Common Problems, Options, Engine)

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The is300 was known as the Altezza in Japan and was first released to the Japanese market in 1998. The platform for the Altezza was a modified version in use by the Toyota Progrès (pronounced "Prog-Ray). Engineers at Toyota shortened the wheelbase by 110 mm, and pushed the front wheels out by 20 mm and rear wheels out by 25 mm. The physical design of the Altezza was finalized and frozen by designer Tomoyasu Nishi in 1996. Engineering for the Altezza project was lead by Nobuaki Katayama, a Toyota motorsports executive who competed in rallies and other races. In the 1990s he was a big part of Toyota motorsports, assisting with the WRC, SCWC, and Le Mans racing. With the Altezza, Katayama wanted to build a smaller, sportier, and more nimble car, one that could take on the German sport sedans head-to-head. Katayama’s own Altezza was fitted with a supercharger and stiffer, lowered suspension.

The exterior design of the is300 was certainly skewed towards the sporty side of the spectrum. It had a nice, rear-wheel-drive stance with flared fenders that gave the car a svelte look. At the rear, the taillights were responsible for starting the obsession with “Altezza” tail lights. The quasi fastback roofline, chrome exhaust tip, aggressive alloy wheels, and 105.1” wheelbase proved a good combination. While busier than offerings from the German competitors, the is300 paved new roads for Lexus in the USA. It helped establish trends and bring in a younger demographic that may have gravitated towards a 3-series or Audi A4.

There were 2 body styles on offer, a sedan and a wagon variant called the SportCross. If the SportCross interests you, keep in mind that they are very rare. There was a total of 3,078 made, with the most popular year being 2002 with 1,958 SportCross models being sold.

Common exterior problems you'll run into include body panels that are misaligned due to neglect, headlight lenses that are cloudy or hazy due to age and sun exposure, rust in colder areas, and faded paint in hot areas.

Like the exterior, the interior also set some new trends. Buyers could choose between half Alcântara / half leather seating combinations usually in Ivory or Black, or full leather seats depending on options and trim. The instrument cluster was very unique - it sported a chronograph watch style, that housed the MPG, ammeter, and coolant temperature inside of the speedometer. Lexus compared the look to a high tech timepiece. The three-spoke leather-wrapped steering wheel housed buttons of the E-Shift Automatic transmission, similar to Porsche’s Tiptronic system. The chrome ball shift knobs were a nice touch, as well as the drilled pedals that were inspired by the head engineer’s son, whose car had drilled pedals.

Things to be mindful of for the interior include dashboards that can melt or disfigure in the hot sun. This was a defect with many Toyota built vehicles that were produced in the early to middle 2000s. Remedies include removing the dash, stripping the melted plastics using acetone or chemical removers, and repainting it. You may be able to remove the melting bits with the dashboard installed. Other issues include CD-Changers and cassette players that break often and wear on the Alcântara parts of the seats. Alcântara is certainly grippy but can pile up and wear differently than other materials.

The first-gen is300 models were only available as the is300 in the United States. That’s a very good thing because it means they all come with the coveted 2JZ-GE 3.0-liter DOHC 24-valve straight-six engine. The engine has VVT-i continuously variable valve-timing system with an output that was respectable for its day —215 horsepower and 218 pound-feet of torque. According to Lexus, 0-60 mph was accomplished in 7.3 seconds with the E-Shift transmission. The E-Shift automatic was the only transmission available in 2001, but starting in 2002 a manual transmission was available. Note that the SportCross never received a manual transmission from the factory. Some owners and enthusiasts have fitted a manual gearbox to the SportCross models.
Lexus models are known for their reliability, and the is300 is no exception. The engine as well as both of the transmissions are very durable and should last you 200K miles or more. You may however need to change the O2 sensors more frequently than you’d like, but really it’s not a big deal.

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