Used 2023 Lexus IS for Sale near Port Dover, ON

How much does the 2023 Lexus IS cost?

Prices have softened 2.90% compared to this time last year, making it a favourable time to shop this model year.

There are 73 listings available, which gives you a modest amount of inventory 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, and many also highlight its good handling and value for money. It fits best if you want a compact luxury sports sedan with driver appeal and a well-equipped cabin, especially if you do not need much rear-seat space. With 19.2% of listings marked as good or great deals, there is still some room to shop selectively.

Is the 2023 Lexus IS reliable?

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

Reviewers describe it as dependable in everyday use, with a reputation for smooth performance and a trouble-free ownership experience. The feedback also suggests it is a car you can count on for long-term enjoyment, especially if you value a refined driving feel and luxury-brand polish. For used buyers, the main long-term ownership risk is less about durability and more about accepting its tight rear seat and limited practicality.

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 but should move quickly on the right car.

• Deal availability: 19.2% of listings are priced as good or great deals.
• Inventory: There are 73 listings available.
• Price trend: Prices have softened 2.90% 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 $43,776 CAD sits slightly below last year's $45,084 CAD.

That softer pricing can help you buy in at a more favourable point, but it also means future resale gains may be more limited if the market stays soft. If you plan to sell later, the current trend suggests you should focus on buying well and keeping the car in strong condition. 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:

• 19.2% of listings are priced as good or great deals.
• Price trend: Prices have softened 2.90% compared with last year.
• Owners rate it 4.8/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $40,159 CAD, the 2022 costs less than the current year's $43,776 CAD average.
• It adds a more performance-focused character with a rare V8 option.

The bottom line: Choose the 2023 if you want the newer pricing context and strong owner satisfaction in a compact luxury sports sedan. If you are more price-sensitive, the 2022 is the better value play, especially if you want to spend less up front while still getting the Lexus IS formula.

These recommendations are based on CarGurus' proprietary market data from October 20, 2026, CarGurus experts' opinions, and generative AI.