Sahtt & others,
Thanks for the feedback. I verified with 2 other Lexus dealers that this IS an interference engine as you stated (my first advisor contact was mistaken). In others posts, there seemed to be some uneasiness regarding this type of engine. However, as a counterpoint, the extremely reliable 3.0 and 3.5L engines in the Honda vehicles are also the interference type--as you say, do the service and fret about something else like rising interest rates.
I am contemplating my first 98-2000 Lexus purchase for primarily one reason--reliability. Yes, many of the vehicle's other attributes will be appreciated, but I am looking for one of the most reliable used cars available in this price range with this type of feature content. The LS seems, according to reports from various sources [JD, ConRep, etc], to be one of the most reliable vehicles on the road. I'm simply looking for support or refute from current owners in terms of reliability in relation to other competing products, luxury class or not. With the high expectation for reliability near prefection, it can be easy to develop a negative attitude towards even minor problems--I need to keep that in mind with some of the other threads I've read.
I was also concerned about the reported much higher-than-average repair costs for this car. I called yesterday to inquire about a TB/WP replacement as well as an alternator replacment. Interestingly, the lexus dealer was 10% higher and 10% lower respectively for an LS than a HOnda dealer for comparative hypothetical repairs to an 04 Honda Odyssey. Not what I expected.
Any other reliability/repair feedback is appreciated.