Used 2023 Lexus IS for Sale nearMississauga, ON

How much does the 2023 Lexus IS cost?

Prices have held steady compared to this time last year, signaling a stable and predictable market for this model year.

There are 79 listings available, which gives you a modest amount of choice in the used market.

Is the 2023 Lexus IS a good car?

Yes — the 2023 Lexus IS earns a 4.8/5 user rating, which points to strong owner satisfaction. Owners consistently praise its sporty design, smooth performance, and luxurious interior, and many also highlight its great handling and good value for money. That fits well if you want a compact luxury sedan with sharp styling and a premium feel, especially if you are shopping for a car that appeals to young professionals or drivers who rarely carry passengers. With 21.5% of listings marked as good or great deals, you still have some room to find a competitive offer.

Is the 2023 Lexus IS reliable?

Owners rate it 4.8/5, a strong signal of long-term satisfaction.

The owner feedback also points to a reliable, dependable ownership experience, with the car’s durability and trouble-free character coming through in the way people describe it. That kind of reputation matters if you want a used luxury sedan you can count on over the long term. For used buyers, the main risk is less about the car’s core reliability and more about paying a premium for one with a harder life or weaker maintenance history.

Is now a good time to buy a used 2023 Lexus IS?

This looks like a moderate, selective buyer’s market, so you can shop patiently and still find worthwhile options.

• Deal availability: 21.5% of listings are priced as good or great deals.
• Inventory: There are 79 listings available.
• Price trend: Prices have held steady compared with last year.

If you find a listing below $43,281 CAD, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2023 Lexus IS's resale value?

The current average of $45,790 CAD sits slightly above last year's $45,575 CAD.

That small increase suggests the 2023 Lexus IS has been holding its pricing well, which is a positive sign if you plan to sell later. A stable price trend usually means the market sees the car as desirable without being overly volatile. For you, that can translate into more predictable depreciation and a better chance of recovering value when it is time to move on.

Vehicles with strong owner satisfaction ratings, like this model year's 4.8/5, tend to retain buyer demand, which supports resale value over time.

Should I buy a 2023 Lexus IS or consider a different year?

If you're weighing the 2023 against nearby model years, here's how to think about it:

Choose the 2023 if:

• 21.5% of listings are priced as good or great deals.
• Price trend: Prices have held steady compared with last year.
• Owners rate it 4.8/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $40,069 CAD, the 2022 costs less than the current year's $45,790 CAD average.
• It adds a more performance-focused character.

The bottom line: Choose the 2023 if you want the stronger current-market balance of price stability, owner satisfaction, and available inventory. If your priority is spending less up front, the 2022 is the better value path, especially if you are comfortable trading some of the current year's market position for a lower purchase price.

These recommendations are based on CarGurus' proprietary market data from September 29, 2026, CarGurus experts' opinions, and generative AI.