Used Lexus IS for Sale near Caledon, ON

How much does the Lexus IS cost in today's market?

Used Lexus IS prices span a wide range depending on model year. Here's what the market looks like right now:

The Lexus IS's current nationwide average price is $35,378 CAD, and its lowest point over the past year was $30,545 CAD. Recently, prices have come down for the 2022, 2023, and 2024 models, making now a good time to shop recent model years.

Is the Lexus IS a good car?

Yes — the Lexus IS is a strong used pick if you want a compact luxury sedan with sporty character and a polished feel. The all-generations owner rating is 4.6/5 across every model year in the data.

Owners consistently praise the Lexus IS for its sporty design, smooth handling, and luxurious interiors. Reliability and build quality also come up often, along with the car’s balance of performance and comfort.

Expert reviews rate the 2022 and 2021 models among the highest across all years.

The main trade-offs are a tight rear seat, limited cargo space, and fuel economy that can trail expectations in some versions. Even so, the Lexus IS remains appealing if you value style, driving enjoyment, and long-term durability.

26.7% of listings are priced as good or great deals.

Are Lexus IS models reliable?

Owners and experts consistently praise the Lexus IS for its strong build quality, reliable performance, and upscale feel. Across the model range, it also earns frequent praise for sporty handling and a comfortable, well-finished cabin.

• Owners rate the Lexus IS between 3.0 and 5.0 out of 5 stars across all model years in the data.

For used buyers, that combination points to a model that should be a reassuring long-term ownership choice, especially if you want a premium sedan with a solid reputation.

What should I look for when buying a used Lexus IS?

Key things to evaluate:

• Fuel efficiency: The IS 500 isn’t particularly fuel-efficient, averaging 13.3 litres per 100 kilometres during our evaluation. That figure fell short of the official Natural Resources Canada fuel consumption rating of 11.9 L/100 km in combined driving.
• Infotainment: Lexus switched to a touchscreen infotainment display for the 2021 model year, and the IS 500 Premium’s dynamic voice command system is also outstanding.
• Safety package: Lexus Safety System+ 2.5 (LSS+ 2.5) is standard on all 2022 IS models.

Which Lexus IS trim should I buy?

The 2022 Lexus IS offers these trims:

• IS 300 RWD: This is the entry point for the 2022 lineup, with the standard turbo 2.0-litre four-cylinder engine and the core Lexus luxury and technology setup.
• IS 350 F Sport: This trim adds a robust 311-hp 3.5-litre V6 engine and is described as a satisfying sports sedan in its own right, making it the best-value choice for many shoppers.
• IS 500 F Sport Performance: This trim brings the normally aspirated 5.0-litre V8, rear-wheel drive, an eight-speed automatic, a limited-slip differential, adaptive variable suspension, a Yamaha rear performance damper, triple-beam headlights, a navigation system, a surround-view monitoring system, and a 17-speaker Mark Levinson premium sound system.

What Lexus IS do most buyers choose?

The Lexus IS years with the most listings are 2023, 2024, and 2025.

These higher-volume years tend to be the easiest places to shop because they give you more inventory to compare and more chances to find the right colour, trim, and price. They also tend to attract the broadest mix of buyers, which usually keeps them near the centre of the used-market conversation.

What is the Lexus IS's resale value?

Most Lexus IS model years are moving lower year over year, which is good news if you’re shopping used and want to stretch your budget. The biggest drops are concentrated in older and mid-cycle years, while a couple of recent years are essentially flat or slightly higher.

The 2018 and 2021 model years are holding steady, with prices close to flat year-over-year.

The 2020, 2021, and 2018 model years have held their value best, with the smallest year-over-year price changes.

Is the Lexus IS safe?

• 2022: 8/10
• 2021: 7/10

Lexus Safety System+ 2.5 is standard on all 2022 IS models.

For the safest used buy, the 2022 model posts the highest confirmed score of 8/10.

Should I buy a used Lexus IS now or wait for the next model?

Buy now if:

• Price trend: The 2024 model is at −5.11% versus a year ago, and the 2023 model is at −3.84%.
• Deal availability: The 2024 model has 21.9% good and great deals, and the 2023 model has 21.6%.
• Sweet-spot year: The 2023 model has the most listings at a current average price of $45,138 CAD. The Lexus IS offers a sporty design, smooth handling, and a luxurious interior that make it easy to live with as a premium compact sedan.

Consider waiting if:

• Powertrain/efficiency: The IS 500’s 5.0-litre V8 makes 472 hp and 395 lb-ft of torque, and Lexus says it can hit 60 mph in 4.4 seconds.
• Tech: Standard features include an 8-inch touchscreen, Apple CarPlay, Android Auto, Bluetooth, and SiriusXM satellite radio.
• Safety: Lexus Safety System+ 2.5 is standard on all 2022 IS models, and it includes lane keep assist, adaptive cruise control with lane-centring assistance, blind spot monitoring, and automatic emergency braking.
• Starting price: The base price is $72,900 Canadian.

If you're buying used today, the 2023 model year offers the best mix of value and availability. If you want the latest tech and features, it may be worth waiting for the next model year's inventory to build up.

These recommendations are based on CarGurus' proprietary market data from September 11, 2026, CarGurus experts' opinions, and generative AI.