The thermostat on a 2001 Lexus IS300 is located in the engine bay, specifically at the engine's coolant outlet housing, which is connected to the upper radiator hose. To access it, you'll need to remove the upper radiator hose and the bolts securing the thermostat housing. Once removed, you can replace the thermostat, ensuring to use a new gasket for a proper seal upon reassembly.
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