Used 2023 Lexus IS for SaleNationwide

How much does the 2023 Lexus IS cost?

Prices have softened 2.35% compared to this time last year, making it a favourable time to shop this model year.

There are 72 listings available, which suggests a modest amount of inventory for shoppers to compare.

Is the 2023 Lexus IS a good car?

Yes — owners rate it 4.8/5, which points to strong overall satisfaction. Reviewers consistently praise its sporty design, smooth performance, and luxurious interior, and many also highlight its great handling and good value for money. In practical terms, that lines up well if you want a compact luxury sedan with sharp styling, easy-to-use technology, and a driver-focused feel rather than maximum family space. With 18.1% of listings marked as good or great deals, there is some room to shop selectively.

Is the 2023 Lexus IS reliable?

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

The review summary points to a car that owners see as reliable, with dependable performance and a reputation that supports trouble-free ownership over time. That matters if you want a used luxury sedan you can count on rather than one that feels high-maintenance. For used buyers, the main long-term ownership risk is less about the car’s core reputation and more about finding 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 market for selective buyers, with enough inventory to compare options but not so much supply that every listing is heavily discounted.

• Deal availability: 18.1% of listings are priced as good or great deals.
• Inventory: There are 72 listings available.
• Price trend: Prices have softened 2.35% compared with last year.

If you find a listing below $43,280 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 $45,510 CAD sits slightly below last year's $46,606 CAD.

That kind of softening can help you as a buyer today, but it also suggests future sellers may need to price carefully to stay competitive. Because the model is still holding close to its annual range, resale value looks relatively stable rather than sharply volatile. Strong owner satisfaction can also support demand when it is time to sell.

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:

• 18.1% of listings are priced as good or great deals.
• Price trend: Prices have softened 2.35% compared with last year.
• Owners rate it 4.8/5 — a strong satisfaction signal.

Consider the 2022 if:

• At $40,001 CAD, the 2022 costs less than the current year's $45,510 CAD average.
• It offers a more performance-focused personality, including a standout V8 option.

The bottom line:
Choose the 2023 if you want the newer used-market option with strong owner satisfaction and a modestly softer price trend. If your priority is spending less up front, the 2022 is the better value path, especially if you want to save several thousand dollars and can live with the older model year.

These recommendations are based on CarGurus' proprietary market data from September 15, 2026, CarGurus experts' opinions, and generative AI.