2024 Lexus IS 500 F Sport: Review, Prices, and Specs

Text by Tom Appel

2024 Lexus IS 500 F Sport Performance Premium

Specs

Class: Premium Compact Car

Color: Incognito

Seating Capacity: 5

Miles driven: 140

Real-world fuel economy: 19.2 mpg

Driving mix: 65% city, 35% highway

EPA-estimated fuel economy: 17/25/20 (city, highway, combined)

Fuel type: Premium gasoline

Base price: $63,370 (not including $1150 destination charge)

Options on test vehicle: BBS-brand 19-inch allow wheels ($2450), door-edge guards ($155), illuminated door sills ($425), carpeted trunk mat ($120), rear bumper applique ($90), dash camera ($375)

Price as tested: $68,135

Pros and Cons

The great: Refined performance, great handing

The good: Classy cabin, top-notch assembly quality

The not so good: Small door openings, limited 2nd-row passenger space

Overview

It’s okay to have fun. Seriously. If you’re closing in on your Fifties, and your career is going well, you pay your bills, and the kids are happy and healthy—and their college funds up to date—consider having some fun.

Now, if you are already of an indulgent bent, say you own a lifted Ford F-350 with five digits worth of added chrome bits and Banks-brand diesel performance upgrades, and you just dropped $1200 on an unlikely Draft Kings parlay, this message probably isn’t for you.

We’re talking to the responsible mom or dad who rarely thinks of themselves. Lexus has a car for you, and given how much fun it is to drive, you’ll be pleased to know it’s also a fairly responsible purchase. It’s also just anonymous enough that it won’t blow your cover when parked in your office reserved spot.

If you’re looking for something well built, rewarding to drive, and more than just a little indulgent—something that slots somewhere in the flashy spectrum between the Toyota Camry and the Chevrolet Corvette, we recommend the Lexus IS 500 F Sport.

Engines

Now, there’s an argument to be made that any of the small premium sedans that comprise the IS lineup is fun to drive and at least a little indulgent, but we don’t want to hear it. Because only the 500 boasts a Simmering 5.0-liter V8 under the hood. And the V8 is really key to the sort of indulgence we’re endorsing here.

Starting at $41,235, the IS lineup is often compared to the BMW 3-Series, an apt enough analogy as both cars are small, sporty sedans with premium cabins and compelling topline trim levels. Though, and this is key, the BMW is not offered with a V8, and generally costs more than the Lexus.

Lesser IS models feature either a 2.0-liter turbocharged 4-cylinder engine, or a smooth 3.5-liter V6. And while 4-cylinder models serve up only acceptable levels of power, the V6 is both refined and potent. But neither engine compares to the 500’s standard 471-horsepower V8. The large, old-school normally aspirated (no turbo) V8 mates exclusively to an 8-speed automatic transmission and, per Lexus, revs freely to 7100 rpm. Note that while other IS trim levels are offered with AWD, the 500 comes only with rear-wheel drive.

F Sport Equipment

In addition to the V8 engine, 500 F Sport models also enjoy the following performance upgrades:

• Performance–tuned adaptive variable suspension
• Torsen-brand limited-slip rear differential
• Yamaha-brand rear performance dampers
• Two-piece aluminum 14.0-inch front, and 12.7-inch rear brake rotors

And for those trying to keep their automotive indulgence on the down low, none of the above can be seen—save for the brakes—from outside of the car.

Prices and Trim Levels

For 2024, the IS 500 F Sport is offered in two configurations: Base ($60,020), and Premium ($64,520). That latter includes such niceties as a navigation system, Mark Levinson-brand audio systems, and LED headlamps.

New for the 500 for 2024 is Incognito paint (seen here) and a Special Appearance Package, the latter of which is only offered on the Premium.

Consumer Guide recently spent a week behind the wheel of a 2024 IS 500 F Sport in Incognito with optional BBS-brand 19-inch wheels. All told, our test car came to $68,135, including destination charge.

Color and Design

If you had described this color combination to us over the phone, we probably would have passed, but in person, we see the charm. That stark red-and-black cabin actually works well with the muted exterior hue, in a way hiding the excitement from onlookers and passers-by.

Room and Comfort

We’ve noted this before, but larger folks (such as this editor) will find the IS’s small front door openings a hindrance to getting into and out of the car. Once inside, things are cozy, but roomy enough, even for big guys. Second-row space is another matter. The IS is not well suited for four-adult long trips, as things are snug in the back, especially behind taller front-row occupants.

The cabin is handsome, in a man-cave sort of way, and for the most part top-notch materials are employed as part of the décor, though the lower door trim looks cheap, especially in red. We find the solid-color door-panel speaker surrounds especially Playskool looking.

Connectivity

The IS still employs the old Lexus touchpad digital interface, though a touchscreen is not part of the system, so the odd touch/push pad can now largely be ignored. All that said, the touchscreen system works well enough, though at 10-inches, its very small by contemporary standards.

A note to music lovers: The Mark Levison sound system, standard on the 500 Premium, is outstanding, and especially well suited to the mid-century jazz favored by this author.

But, as flawed—but generally indulgent—as the IS cabin may be, it is its on-road performance that matters most, especially if you’re looking to extract a little fun from your daily commute.

Power and Performance

We’re happy to report that the 500’s big V8 pair well with the car’s 8-speed automatic, serving up of all sorts of power from a standstill, and when tasked to provide muscle underway. The 500 makes short and easy work of highway and passing maneuvers, and frankly just blasts forward for as long as you keep the go-pedal depressed. Also, not that we’d know, but back of the IS can be induced to break free using the throttle and a quick snap of the wheel. We’re talking old-school, V8-powered, Rockford Files kind of stuff here, and stuff that should never be attempted on public roads. If you don’t know what we’re talking about, wait until you can practice in an empty parking lot covered with at least an inch of snow.

Ride and Handling

To go along with all the power, the IS 500 F Sport boasts excellent, weighty, accurate steering, and impressively controlled lean in corners. The brakes, too, feel strong and powerful.

We’re happy to report, that none of this performance seems to have taken a toll on ride quality, which is firm, yet complaint, and never harsh, not matter the road surface.

The IS 500 Boasts one of our favorite exhaust notes. The burble from the rear end is just aggressive enough, and it never sounds crude or synthetic. Noises levels come down in routine driving. In fact, the IS 500 is generally quiet, unless you the driver give it reason to bark.

Review

We frankly love the IS 500. The old-school formula of shoe-horning a big engine into a little car goes back a long time, but is rarely executed so effectively as Lexus has done here. And again, if you’re open to a little restrained indulgence, and your wallet allows, the 500 may be the perfect car for you—and think of all the money you’ll save on therapy. We recommend ordering yours in Incognito—the perfect color to mask your ride’s real potential.

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2024 Lexus IS 500 F Sport Pictures

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