Lexus IS 1st Gen

Introduced in North America for the 2001 model year, the Lexus IS 300 was Toyota's direct challenge to the BMW 3 Series. Known as the Toyota Altezza in Japan, it paired a compact, rear-wheel-drive chassis with the famously smooth 3.0-liter 2JZ-GE inline-6, producing 215 horsepower. While most were sold with a 5-speed automatic, a 5-speed manual became available in 2002 and is now the most desirable configuration.

The IS 300's appeal comes from its excellent driving dynamics, legendary engine reliability, and clean, timeless design. The car's clear-lensed tail lights, dubbed "Altezza lights," sparked a worldwide aftermarket trend in the early 2000s. Collectors and enthusiasts seek out well-preserved, unmodified examples, but they are becoming increasingly difficult to find. The manual transmission sedans carry a significant premium over their automatic counterparts.

The market for the first-gen IS is robust, with an average sale price around $13,000. This number is skewed by a large number of modified or high-mileage cars at the low end and a small number of pristine, manual-equipped examples at the high end. Cars with documented service history and few owners are consistently bringing strong prices, proving the IS 300's status as an appreciating modern classic.

Prices for the first-generation Lexus IS range from $2,025 for project cars to over $35,600 for exceptional, low-mileage examples.