Used 2024 Lexus IS for Sale nearMississauga, ON

How much does the 2024 Lexus IS cost?

Prices have softened 1.58% compared to this time last year, making it a favourable time to shop this model year.

There are 77 listings available, which suggests you have a reasonable amount of inventory to compare before you buy.

Is the 2024 Lexus IS a good car?

The 2024 Lexus IS is aimed at you if you want a compact luxury sports sedan with comparatively low pricing and a driver-focused feel. It is positioned as an entry-level Lexus with compact proportions, and it is best suited to younger buyers or people who do not often carry passengers.

The trade-off is practicality: the back seat is really tight, so it is less useful if you regularly carry family or friends. It is also described as fun to drive and easy to use, but limited cargo space and poor fuel economy mean it makes more sense if you value sporty character and a well-equipped cabin over space or thrift.

With 23.4% of listings marked as good or great deals, you have some room to shop selectively.

Is the 2024 Lexus IS reliable?

The 2024 Lexus IS benefits from the third-generation update introduced for 2021, which brought updated styling and technology along with standard Lexus Safety System+ features. That includes automatic emergency braking, pedestrian detection, lane departure warning, adaptive cruise control, automatic high beams, and lane trace assist.

For used buyers, the main long-term ownership risk is less about complexity and more about whether the car’s tight cabin, limited cargo space, and poor fuel economy fit your day-to-day needs over time.

Is now a good time to buy a used 2024 Lexus IS?

This looks like a moderate market, so you can be selective without expecting every listing to be a bargain.

• Deal availability: 23.4% of listings are priced as good or great deals.
• Inventory: There are 77 listings available.
• Price trend: Prices have softened 1.58% compared with last year.

If you find a listing below $45,766 CAD, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2024 Lexus IS's resale value?

The current average of $48,980 CAD sits slightly below last year's $49,767 CAD.

That small decline suggests the market has eased a bit, which can help you as a buyer today. If you plan to sell later, the current pricing trend points to steady but not especially strong short-term appreciation. A well-kept example should still hold appeal, but the resale picture will depend heavily on condition, mileage, and how well the car is equipped.

Should I buy a 2024 Lexus IS or consider a different year?

If you're weighing the 2024 against nearby model years, here's how to think about it:

Choose the 2024 if:

• 23.4% of listings are priced as good or great deals.
• Price trend: Prices have softened 1.58% compared with last year.

The bottom line: The 2024 is the better pick if you want the updated third-generation IS with current tech and a sporty luxury feel. If your priority is stretching your budget further, a nearby model year may be worth a look, but the 2024 makes sense when you want the newer-market balance of features and pricing.

How does the 2024 Lexus IS compare to the 2024 BMW 3 Series?

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

These recommendations are based on CarGurus' proprietary market data from October 27, 2026, CarGurus experts' opinions, and generative AI.