Used Lexus IS for Sale near Cobalt, 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 $35,239 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 stylish luxury sedan with sporty character and broad owner appeal. 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, luxurious interiors, and overall build quality. Across the model years, the recurring themes are a fun-to-drive feel, a premium cabin, and a reputation for reliability.

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

The main trade-offs centre on rear-seat space, cargo room, and fuel economy, especially in the more performance-focused versions.

25.5% 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, refined driving feel, and dependable everyday character. The model’s reputation is reinforced by owner feedback that repeatedly highlights reliability, comfort, and a premium interior.

• 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, long-term ownership risk looks manageable if you choose a well-maintained example and pay close attention to service history.

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, and that figure fell short of the official Natural Resources Canada fuel consumption rating of 11.9 L/100 km in combined driving.

Which Lexus IS trim should I buy?

The 2022 Lexus IS offers these trims:

• IS 300 RWD: The entry rear-wheel-drive version uses a standard turbo 2.0-litre four-cylinder engine and suits you if you want the most accessible way into the lineup.
• IS 350 F Sport: This trim adds a robust 311-hp 3.5-litre V6 engine and is the best-value choice for many shoppers who want stronger performance without stepping up to the V8 model.
• IS 500 F Sport Performance: This trim brings a 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.

Higher-volume model years tend to be the easiest to shop because you usually get more choice in colour, trim, and equipment. They also tend to attract more cross-shopping, which can help keep pricing competitive.

What is the Lexus IS's resale value?

Most Lexus IS model years are down year over year, which is good news if you are shopping used and want prices that have softened. The steepest drops are concentrated in older examples, while a few years are closer to flat and one is slightly higher than a year ago.

The 2020, 2018, and 2023 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 −3.58% versus a year ago, and the 2023 model is at −2.35%.
• Deal availability: The 2024 model has 17.4% good and great deals, and the 2023 model has 18.1%.
• Sweet-spot year: The 2023 model has the most listings at a current average price of $45,510 CAD. The Lexus IS offers a stylish, sporty character that makes it appealing if you want a compact luxury sedan with a strong personality.

Consider waiting if:

• Powertrain/efficiency: The 5.0-litre V8 engine cranks out 472 hp and 395 lb-ft of torque, and Lexus claims it will 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.
• Starting price: The base price is $72,900 CAD.

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 15, 2026, CarGurus experts' opinions, and generative AI.