You Can Buy A 416-Horsepower V8 Lexus IS F For The Price Of A New Corolla

The 2000s were an amazing time for performance cars. Natural aspiration, big displacement, and huge jumps in torsional rigidity resulted in cars we’ll never see again like the E90 BMW M3, the C6 Chevrolet Corvette Z06, and the V10-powered Audi S8. Sure, Japan might not have had the same presence as it did in the previous decade, but the 416-horsepower Lexus IS F absolutely deserves to be part of the conversation.

While it didn’t have the 8,300 RPM redline of the V8 BMW M3 or the massive 6.2 liters of displacement boasted by the Mercedes-Benz C 63 AMG, the IS F still had a baritone naturally aspirated five-liter V8 that’s since been updated for use in cars like the LC 500 and IS 500 F Sport Performance. Nowadays, this is your entry point to one of the greatest engines still on the market, and you can pick up an IS F for the price of a new Corolla.

What Are We Looking At?

Back in 2003, Lexus tapped Rod Millen to put the V8 from a GS 430 into an IS 300 sports sedan. The resulting show car was called the IS 430, and it was spectacular enough to start a burning desire to compete with cars like the Mercedes-Benz C 55 AMG and the Audi S4. The seeds were sown, and for the next generation, Lexus would put a V8 in its compact sport sedan. However, it wouldn’t be just a standard model with more power. Instead, Lexus put together a skunkworks team, and tapped Supra engineer Yukihiko Yaguchi to lead the effort.

Black Lexus Is F 1 — *Photo credit: Autotrader Seller*

Lexus started with the UR family of V8 engines, used in models like the Lexus LS 460. However, the brand couldn’t leave that engine alone for this application, and so it was punched out to five liters before Yamaha was given the task of designing the cylinder heads. The result included titanium valves, unique camshafts, provisions for direct injection in addition to port injection, and an 11.8:1 compression ratio. Revving to an initial 6,800 rpm, the 2UR-GSE pumped out 416 horsepower and 371 lb.-ft. of torque in the IS F, putting it comfortably ahead of the four-liter V8 in the BMW M3 of the time.

Lexus Is F Interior — *Photo credit: Cars & Bids*

Next came what some might regard as a misstep. Instead of offering a manual transmission, Lexus bolted up an eight-speed torque converter automatic, specifically the AA80E shared with the LS 460. It might not have offered a third pedal, but thanks to being able to lock the torque converter in second through eighth, shift times were as good as 100 milliseconds, and effective highway gearing was long enough to help the IS F escape the U.S. gas guzzler tax. Add in lower and stiffer suspension, six-piston front calipers, widened fenders, a bulging hood, and BBS forged wheels, and Lexus ended up with a seriously credible sports sedan. When Car And Driver took a 2008 example in for long-term testing, the magazine’s example ran from zero-to-60 mph in 4.4 seconds, dashed through the quarter-mile in 12.8 seconds, and reportedly awed with the soundtrack from its dual-stage intake. There was just one problem, as the outlet explained:

Because the IS F sits so low to the road and its big wheels leave little space between fender and tire, there is very little suspension travel available, and the resulting tune is firm. The car bucks and heaves and never settles down; it will bob like an apple over a seemingly good freeway. Nonetheless, Lexus claims its sophisticated sport-tuned suspension offers improved body control without degrading ride quality. We disagree. One of our number with deep technical credentials noted astutely: “Lexus really needs a good suspension consultant to fix this car.” Indeed.

Alright, so the ride quality on early IS F models was apocalyptic, but Lexus improved the car over the years. In 2010, it got a standard Torsen limited-slip differential. In 2011, it got significant suspension revisions that vastly improved comfort. Flash forward more than a decade, and the aftermarket has devised a litany of alternative spring and damper setups that can soften the ride, so if you’re still in for a thunderous V8 sports sedan that costs new Corolla money, the IS F is still on the table.

How Expensive Are We Talking?

Lexus Is F Front Three Quarters 1 — *Photo credit: Cars & Bids*

These days, a well-equipped Corolla XSE stickers for $29,175, and that’s before any options. Can you buy a Lexus IS F for less? Can you ever. Take this Matador Red 2008 example, which recently sold on Cars & Bids for $27,250. Sure, the aftermarket Linea Corse wheels might not be to everyone’s tastes and there’s a minor hit on the Carfax, but with a reasonable 81,600 miles on the clock, this is a reasonably low-mileage example that might be worth rolling the dice on.

Photo credit: Autotrader Seller

Is red not your color? How about black? This murdered-out 2008 example up for sale in Georgia flies a bit further under the radar, and it’s listed for a reasonable $26,999. Sure, 112,920 miles is daily driver stuff, but four name-brand Toyo tires is usually a good sign, which may allay fears over the aftermarket taillights.

2011 Lexus Is F Red 1 — *Photo credit: Autotrader Seller*

Look a bit harder, and you might even be able to find an updated 2011 model within budget. This Matador Red 2011 IS F is up for sale in Arizona for $27,499, and while it does have two minor hits on its Carfax, 125,408 miles on the clock, and a few cosmetic mods that aren’t to everyone’s liking, the suspension tweaks make a huge difference and this is an IS F you won’t feel bad about street parking.

What Could Possibly Go Wrong On A Lexus IS F?

Lexus Is F Engine 1 — *Photo credit: Cars & Bids*

Unlike just about all of its competitors, the Lexus IS F seems to be aging well from a reliability standpoint, with few common problems. Other than the potential for exhaust manifold leaks which can happen to many 17-year-old cars, the only majorly expensive one that’s really surfaced is a common slow coolant leak from the valley plate under the intake manifold at higher mileage. Access sucks, it’s a 14-hour job, and there’s also a wiring harness in that vicinity that may break when removed. If you want this one done at a Lexus dealership with a loaner car, coffee, and a warranty on the repairs, expect to spend between $2,000 and $3,000.

On a less expensive note, radiators are known to fail internally with mileage, which can be a problem considering it’s a shared heat exchanger for both the coolant and the transmission fluid. Proactively replacing the radiator will run you $528.15 for the part and calls for three hours of book labor, meaning you should be in at about a grand even if you want to dealer service it. Otherwise, these cars are rock-solid. Early water pump issues should all be addressed by now, and both the engines and transmissions seem incredibly robust, capable of more than 200,000 miles with few unscheduled repairs. Yep, it’s a Lexus, alright.

Should You Buy A Lexus IS F For The Price Of A New Corolla?

Lexus Is F Rear Three Quarter 1 — *Photo credit: Cars & Bids*

Usually, buying a heavily depreciated luxury performance car instead of something new and reliable is a great way to spend a lot of time in service loaners. However, the IS F isn’t some complex Autobahn warrior. It’s a Lexus, and it seems to be aging like a Lexus should. If you don’t mind expensive brake discs or V8 fuel economy, and the idea of potentially doing one major repair at most isn’t a turn-off, absolutely buy one because it’s real daily driver material. Just maybe buy a set of coilovers too for a pre-2011 model to mellow out the ride.

Top graphic credit: Cars & Bids

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