New Lexus IS for Sale near Caistor Centre, 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 $35,364 CAD, and its lowest point over the past year was $30,462 CAD. Recently, prices have come down for the 2022 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 pick if you want a stylish, sporty luxury sedan with a loyal owner following. The all-generations owner rating is 4.61/5 across every model year in the data.

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

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

The main trade-offs are the tight rear seat, limited cargo space, and fuel economy that can trail expectations in some versions.

29.0% of listings are priced as good or great deals.

Are Lexus IS models reliable?

Owners and experts consistently highlight the Lexus IS for its strong build quality, reliability, and polished driving feel. The model’s sporty character and luxurious cabin also come through repeatedly in owner feedback.

• 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 can be a reassuring long-term ownership choice, especially if you prioritise durability and a premium feel.

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, making it the most accessible way into the lineup.
• IS 350 F Sport: This trim adds a robust 311-hp 3.5-litre V6 engine and suits you if you want a stronger performance focus without stepping up to the V8 model.
• IS 500 F Sport Performance: The range-topping choice brings a normally aspirated 5.0-litre V8, 472 hp, an eight-speed automatic, standard limited-slip differential, adaptive variable suspension, a Yamaha rear performance damper, triple-beam headlights, navigation, surround-view monitoring, and a 17-speaker Mark Levinson premium sound system. It is the best-value pick if you want the most distinctive performance character.

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 attract the most shoppers because they offer newer features, broader availability, and more comparable listings to choose from. That makes it easier to find the right colour, trim, and price point.

What is the Lexus IS's resale value?

Most model years are down year over year, and several have posted sizeable declines. That creates more room for used buyers to find value, especially in older and mid-cycle examples. A few newer years are close to flat or slightly higher, which suggests stronger demand for the freshest inventory.

The 2023 and 2024 model years are holding steady, with prices close to flat year-over-year.

The 2020, 2015, and 2023 model years have held their value best, with prices flat to rising year-over-year.

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 −0.74% versus a year ago, and the 2022 model is at −6.2%.
• Deal availability: The 2024 model has 14.1% good and great deals, and the 2022 model has 32.2%.
• Sweet-spot year: The 2023 model has the most listings at a current average price of $45,857 CAD. The Lexus IS offers a sporty, stylish character with a premium feel that has helped it stay appealing across generations.

Consider waiting if:

• Powertrain/efficiency: The latest model pairs a normally aspirated 5.0-litre V8 with 472 hp and 395 lb-ft of torque.
• Tech: The latest model includes an 8-inch touchscreen, Apple CarPlay, Android Auto, Bluetooth, SiriusXM satellite radio, a 10.3-inch touchscreen, a navigation system, and a 17-speaker Mark Levinson premium audio system.
• Safety: The latest model includes Lexus Safety System+ 2.5, adaptive cruise control with lane-centring assistance, blind spot monitoring, lane-departure warning, and low-speed automatic braking.
• 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 22, 2026, CarGurus experts' opinions, and generative AI.