Used 2023 Lexus IS for Sale near Ontario

How much does the 2023 Lexus IS cost?

Prices have softened 3.01% compared to this time last year, making it a favourable time to shop this model year.

There are 80 listings available, which suggests a modest amount of inventory for shoppers to compare.

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. Reviewers also highlight its great handling and good value for money, which fits well if you want a compact luxury sports sedan that feels engaging without giving up everyday comfort. It is especially appealing if you rarely carry passengers and want a premium badge with a comparatively low entry price.

With 21.3% of listings marked as good or great deals, there is a decent amount of market opportunity if you shop carefully.

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 dependable, trouble-free ownership experience, with reviewers calling out its reliable performance and overall long-term appeal. That kind of feedback matters if you want a used luxury sedan you can count on rather than one that feels fragile or overly complicated.

For used buyers, the main long-term ownership risk is less about outright reliability and more about choosing a well-kept example with a clean service 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 listings.

• Deal availability: 21.3% of listings are priced as good or great deals.
• Inventory: There are 80 listings available.
• Price trend: Prices have softened 3.01% compared with last year.

If you find a listing below $43,274 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 $43,785 CAD sits slightly below last year's $45,144 CAD.

That softer pricing suggests the market has eased a bit, which can help you buy more confidently now but may also limit short-term upside if you plan to resell soon. If prices remain stable, a buyer who purchases near the lower end of the range could be better positioned later than someone who pays near the top. The model’s premium badge and strong owner satisfaction should help support demand, even if the current trend is not especially aggressive.

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:

• 21.3% of listings are priced as good or great deals.
• Price trend: Prices have softened 3.01% compared with last year.
• Owners rate it 4.8/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $39,899 CAD, the 2022 costs less than the current year's $43,785 CAD average.
• It adds a more performance-focused personality.

The bottom line:
Choose the 2023 if you want the stronger all-around value story, current-market pricing, and the reassurance of high owner satisfaction. If your priority is spending less up front, the 2022 is the better secondary path, especially if you want to save several thousand dollars and can live with an older model year.

How does the 2023 Lexus IS compare to the 2023 BMW 3 Series?

Read our full side-by-side expert comparison here.

These recommendations are based on CarGurus' proprietary market data from November 4, 2026, CarGurus experts' opinions, and generative AI.