To keep a long story short, I am house shopping and hope to find a place and close before mid-summer but it could push into the fall. Anyways, I really want to buy a new IS 500 before they aren't being sold anymore. My dealer currently has one on the lot they could exchange for another (I don't like the color combo), but I do not want to park it outside (where I would have to, at my apartment complex).

Is 2024 likely to be the last year? I am hoping even if I wait a few months I can still get into an IS 500.

 

Word on the street 2024 is the last year of the V8 in the lexus IS. Get it while you can!

 

Buy your house first.

I'm willing to bet 2024 won't be the last year.

 

Yeah, inclined to agree. What reason would they have to stop production? Poor sales? It was never going to be high volume seller anyways (the fact they sell it only in N. America, and in Canada of all places where no one wants a RWD car, is proof of that). Costs too much to produce? Its an ensemble of proven parts, tried, tested and true. Everything is going electric? EV sales have plummeted, and the market has cooled off, and will probably stay that way for a while.

 

^^ I wouldnt be surprised for them to stop the 500 in 2025 and just keep the 300/350 - They have had to stop the V8 in teh trucks and SUVs and I think if anything pushes them to stop the 500 with the V8, it would be the emissions. They may refresh it in 2025 with a twin turbo V6 or something but time will tell I guess.

I have mixed feelings - part of me wants them to stop it so we have limited exclusivity but at the same time, that engine is so glorious and would hate for people to miss out on it.

I am still surprised they are offering such a niche car for our market - I mean who buys a RWD V8 sedan in Canada now?!

 

Hmmmm.. So far a mix of "this will be the last year" and "they will make more next year"... What is the source of the "word on the street"? Any reliable sources saying 2024 is the last year?

And more importantly, if that is the case, when should I expect the last chance to buy a new one? One dealer near me told me that Lexus likes to change over model years as early as the summer, and so the last IS 500s could be hitting lots this spring. Near me, there are like 6-7 in freight expected within the next few weeks, and I have not seen them in inventory at all over the past 6 months, so is it possible this is the last burst of IS 500s being made?

Personally, if I could still buy this summer, then I would have time to get into a house, close the sale, and then buy the car. I would prefer that option.

 

As far as I know it's all speculation. Lexus seems to be phasing out v8 motors in their lineup and replacing with smaller turbo motors. I would assume the shift is to keep up with emission standards. Who knows.....it's such a great platform and would be a shame if it wasn't available.

 

I think pretty much everyone knows the V8 is going away in the next few years, the question is just when -- I was wondering why people are saying that the word on the street is MY2024 is the last MY.

Also very curious WHEN specifically I would have to buy. Would the summer be too late?

You know, it's too bad all these performance cars went with turbos to achieve emissions goals.... I feel like N/A motors with hybrids would have been better for both emissions and emotions

 

Buy a house. Worst case find a certified 500 down the road.

 

As someone who bought a house and then an IS 500 shortly after... If you can afford it, do it, but only if it is the color combo, etc. you want. I waited specifically for an Infrared at MSRP to appear in my area, and I jumped on it when it did.

Parking the car outside at your complex for a few months is not going to ruin the car. My IS 350 lived outside most of the two years I had it, and people told me all the time that it looked super clean. (To be clear, I had my house BEFORE I got the IS 500, so it's been parked in a garage basically its whole life.)

On the other hand, the market has cooled, so you could try to wait it out. If you aren't in love with the spec of the car or the price, you should remember that the dealer also wants to sell the car... they have to convince you to buy it! It's their job to do so. If they can't make you a deal you like, well, too bad. As others have said, the IS 500 likely will be around for another year - if not, there will probably be new examples on dealer lots for the rest of this year. That should give you time to at least get your house situation figured out if not closed.

 

To be clear, I don't think the elements will ruin the car (although we do get hail like once a year here), I am more concerned with the theft and breakins in this neighborhood.

If I knew the IS 500 would be around this summer to buy new off the lot I would just wait.

Color combo I am not that picky except absolutely not wanting the red leather (which seems to be specced on about half of these cars) and absolutely not wanting a bright fancy color (for me the point if this car is to be a sleeper)

I'd take a black, gray, silver or white exterior with the black interior.

 

Lots of speculation. Who knows. Lexus has had a twin-turbo V6 in their lineup for many years now, so why didn't they put that in the IS500 instead of the V8 in 2022 on account on emissions ? Of course, we are all ecstatic that they opted for the V8, which is what really gives this car its luster. Now we hear about an all electric IZ, maybe the twin-turbo, maybe some hybrid. I don't think Lexus even knows what they're going to do. Toyota seems to be throttling back on electrics in general. Are there any new rules coming out from the EPA ? What happens to the LC, RCF? I think the current generation IS will continue on for a few more years including the IS500 until Toyota/Lexus figure out what direction they want to go.

 

I did read an article about the origins of the IS 500, the idea came from US based Lexus executives that wanted a vehicle specifically for the US and Canada markets to appeal to motorheads that either grew up with American V8 muscle cars or just love them. That being said I believe the V8's in the GX and LX trucks have gone away in 2024 and the only V8's available now are in the IS and LC 500. With a little foreshadowing I would say the V8's at best will maybe be one more year if that. It just doesn't make sense to me for Lexus to keep them for such a small limited production.

 

I guess nobody knows. I just am not sure what to do. If I knew that now, this winter/spring were my last chance to buy an IS 500 brand new, I would do it despite not having a house yet. But if I could confidently wait until summertime, it would make the house purchase much easier.

 

I would say there would be a good chance of finding a new IS500 somewhere this summer especially if your not particular about color combo, if you absolutely must have a specific color combination I would buy as soon as you find it.