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2024 Lexus IS500 For Sale: The Complete Buyer's Playbook

If you want a genuine naturally-aspirated V8 in a Lexus badge, the 2024 IS500 is essentially your only option. This is a performance sedan that doesn't compromise on luxury, daily comfort, or reliability — but it comes with a premium and scarce supply. Below is everything you need to know before walking into a dealership.

Key Takeaways

• The 2024 Lexus IS500 is the only new car on the market today combining a 5.0L V8, rear-wheel drive, and full Lexus luxury trim.
• Expect pricing between $73,000 and $82,000 depending on options, destination charges, and dealer markup.
• Delivery times run 4–8 months for new units; used inventory is limited but occasionally available through Lexus certified pre-owned programs.
• The IS500 holds value better than most performance sedans, with typical depreciation under 15% in the first year.
• A pre-purchase inspection and VIN check are non-negotiable given the limited production numbers and track-use exposure.

2024 Lexus IS500 at a Glance

Vehicle Specifications

Spec	Detail
Engine	5.0L V8, 472 hp, 395 lb-ft
Transmission	8-speed automatic, RWD
0-60 mph	~4.4 seconds
Base MSRP	$73,575 (including destination)
Seating	5 passengers
Cargo Volume	9.4 cubic feet
Fuel Economy	16 city / 25 highway
Warranty	4-year/50,000-mile basic; 6-year/70,000-mile powertrain

Who Should Buy the IS500

Right-fit profile

• Drivers who want a V8 sound without sacrificing daily drivability
• Buyers who prioritize Lexus reliability and dealer network over raw track lap times
• Those who value exclusivity — fewer than 10,000 units sold annually in the US market
• Customers willing to pay a small premium for a naturally-aspirated engine in an electrifying market

Not the right fit if

• You need maximum rear-seat space — this is a compact performance sedan
• Extreme fuel economy is a priority
• You plan frequent track days without budgeting for high-performance tire wear
• You expect a quick delivery — allocation-based ordering is the norm

Buying Checklist: What to Do Before You Sign

• Research current inventory — check Lexus USA, Autotrader, CarGurus, and Cars.com for both new and used listings
• Get pre-approved financing — Lexus Financial Services offers competitive rates, but a bank or credit union quote gives you leverage at negotiation
• Arrange a pre-purchase inspection — even for new units, have a Lexus-trained technician check the drivetrain, cooling system, and brake components
• Run a VIN report — pull Carfax or AutoCheck to verify no prior damage, recalls, or fleet usage
• Test drive on your typical routes — evaluate visibility, transmission shift quality, and cabin noise at highway speeds
• Review the window sticker — confirm options, destination charge, and any add-on packages before agreeing to price
• Check for outstanding recalls — visit Lexus owners portal and enter your VIN to verify all service bulletins are current
• Negotiate from invoice, not MSRP — dealers price against holdout; knowing your target number prevents emotional decisions
• Consider certified pre-owned — if new wait times are too long, a CPO IS500 with remaining factory warranty can save months of waiting
• Budget for accessories — wheel locks, floor mats, and a dash cam are worth adding before registration

Price Comparison: IS500 vs Key Competitors

Competitive Landscape

Model	Starting Price	Engine	Horsepower	RWD
Lexus IS500	$73,575	5.0L V8	472	Yes
BMW M340i xDrive	$62,200	3.0L I6 turbo