Used 2023 Lexus IS for Sale nearToronto, 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 73 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 lines up well if you want a compact luxury sedan that feels engaging to drive while still offering a premium cabin and easy-to-use technology. With 17.8% of listings marked as good or great deals, you have some room to shop carefully.

Is the 2023 Lexus IS reliable?

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

Reviewers also describe it as reliable, and the feedback points to a dependable, trouble-free ownership experience that many buyers can count on. That kind of reputation matters in a used luxury sedan, especially if you want something that should feel reassuring over the long term. For used buyers, the main ownership risk is less about outright reliability and more about paying a premium for a car that still needs careful value comparison.

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

This looks like a moderate market for selective buyers, so it makes sense to shop with a clear target price and condition threshold.

• Deal availability: 17.8% of listings are priced as good or great deals.
• Inventory: There are 73 listings available.
• Price trend: Prices have held steady compared with last year.

If you find a listing below $43,285 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 $45,857 CAD sits slightly above last year's $45,847 CAD.

That small increase suggests the 2023 Lexus IS has been holding its value rather than sliding meaningfully. For a future seller, that is a positive sign because stable pricing can make it easier to recover a strong share of your purchase price. The model's premium positioning and steady demand also help support resale confidence, especially if your car is well maintained and lightly used.

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:

• 17.8% 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 $40,051 CAD, the 2022 costs less than the current year's $45,857 CAD average.
• It adds a more performance-focused character, including a V8-powered flagship.

The bottom line: Choose the 2023 if you want the newer price benchmark, steady market behaviour, and strong owner satisfaction. If you are more price-sensitive, the 2022 is the better path because it costs less while still delivering a compelling luxury-sedan experience.

These recommendations are based on CarGurus' proprietary market data from September 22, 2026, CarGurus experts' opinions, and generative AI.