The second-generation Lexus IS, launched for 2006, was a complete redesign that elevated the model to a direct competitor against German sport sedans. With a larger, more luxurious chassis and a new range of V6 engines, it offered a compelling blend of performance and Toyota's hallmark reliability. The lineup included the IS 250 with a 2.5L V6 and the more powerful IS 350 with a 306 hp 3.5L V6. The introduction of the V8-powered IS F in 2008 solidified its performance credentials.
Collectors and enthusiasts appreciate the 2nd-gen IS for its timeless styling, rear-wheel-drive dynamics, and strong aftermarket support. The IS 350 is particularly sought after for its robust 2GR-FSE engine, which doesn't suffer from the carbon buildup issues that can affect the smaller IS 250. While the high-performance IS F occupies a different market segment, clean V6 models, especially in RWD Sport Package configuration, are becoming increasingly desirable.
The market for the standard IS models remains highly accessible. With an average sale price under $9,000, these cars represent a great value. The low end of the market consists of high-mileage IS 250s, while the upper end, approaching $22,000, is reserved for low-mileage, well-maintained IS 350 examples. It's a car where condition and maintenance history heavily influence value.
Buying Tips
- The IS 250's direct-injection V6 is prone to carbon buildup on intake valves. The IS 350's engine adds port injection, which prevents this common issue.
- Check the dashboard and door panels for a sticky, melting texture, a common problem on 2006-2008 models that is expensive to fix.
- Look for signs of a leaking water pump, a known failure point. Dried pink crust around the front of the engine is a tell-tale sign.
- Test the navigation touchscreen thoroughly. The digitizer can fail, making the infotainment system difficult or impossible to use.
Based on recent sales, prices for the second-generation Lexus IS range from $710 for project cars to $21,900 for well-preserved examples.
9,799 Lexus IS 2nd Gen vehicles have been tracked across auctions and listings on Hypercars, with 2877 currently live.
Data sourced from Bring a Trailer, Cars & Bids, eBay Motors, PCarMarket, and Collecting Cars. Updated daily.
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