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I'm not actually thinking of buying a Lexus, just the engine and gearbox.
I'm toying with the idea of an engine swap build as a lead in to my all ambitious plan to build some sort of mid-engined DIY supercar and I really like the idea of building a JDM RS4/ AMG Wagon slayer.
So...
I was thinking of picking up an early Subaru Impreza GF8 Wagon and doing a v8 swap on it followed by lovely interior trim etc. I'm torn between going for an early LS400 donor car with the 1UZ and making it a turbo build to end up with c.400bhp (not sure which gearbox to go with in that case) or going for an LS460 donor so I'll get the 1UR engine which makes about 375bhp stock n/a and has the AA80E/ AA80F 8sp automatic gearbox with sequential shifting and all the bells and whistles...
I kind of like the idea of the LS460 route as I suspect a good turbo build on a 1UZ will end up making up the price difference between the LS400 vs LS460 donors and I'm rather enamoured by the idea of having a stock Lexus engine and gearbox with a few mild tweaks for breathing (should easily enough pass 400bhp with an intake and change of exhaust) just from the point of view of reliability...
Obviously there are major concerns with making the 1UR and AA80E/ AA80F transmission fit into a GF8 (1UZ swaps have been done before so I know that does fit) and then mating the whole lot up to the Impreza AWD drivetrain but if I can figure out those two issues I think it should be quite doable.
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I was part of the media team that launched the LS460, in EMEA, back in 2006. Drove it a lot back then as we had a loaner car for a couple of months.
Engine wise, I thought the 460 was fine - a bit slow because of the heft but the AWD meant it kept power down very well (never drove the RWD). The 8 speed auto was a bit ponderous on step down but shifts were super smooth. Fuel consumption was laughable.
The LS600h engine was much better off the line but the CVT was terrible.
All round though, they're heavy. Certainly not 'dynamic' to drive.
Agree with @Pifko though - no amount of Halfords parts bins are going to get away from the image of Alan Partridge and string back driving gloves.