Lexus IS 300 Lease Deals: F Sport, AWD & Sedan Options Compared (2026 Update)

Author: Mo | 021 Auto Leasing Last Updated: March 2026

If you're searching for a Lexus IS 300 lease, here's the most important thing to know: Lexus discontinued the IS 300 for 2026. Both the turbocharged four-cylinder and the detuned V6 versions are gone. The entire IS lineup now starts with the IS 350 F Sport Design at $46,795 MSRP, powered by the full 311-hp 3.5-liter V6.

That's actually good news for lessees. The IS 350 was always the better car — more power, better resale, stronger residual values.

With our current Lexus IS lease deals, you can get into a 2026 IS 350 F Sport for $499/month with $4,000 down on a 39-month term right here in California. Here's how IS lease pricing breaks down and how to get the best deal.

What Happened to the Lexus IS 300?

Lexus dropped the IS 300 from the U.S. lineup starting with the 2026 model year. The 241-hp 2.0-liter turbo-four (IS 300 RWD) and the 260-hp detuned 3.5-liter V6 (IS 300 AWD) are both gone, along with the V8-powered IS 500 at the top of the range.

The 2026 IS now comes in just two trims — IS 350 F Sport Design ($46,795) and IS 350 F Sport ($49,245) — both running the 311-hp V6. AWD adds $2,000 to either trim. If you're coming from a 2024 or 2025 IS 300 lease and wondering what your upgrade path looks like, the IS 350 F Sport Design is the direct replacement.

For shoppers who loved the IS 300's lower price point, the silver lining is that used and CPO IS 300 inventory is still widely available. If you want a new Lexus IS on a lease, the IS 350 is now your only option — and it's a better car for it.

How Much Does a Lexus IS 350 Lease Cost in 2026?

Here's what IS 350 lease payments look like right now:

IS 350 F Sport Design (RWD), $46,795 MSRP: Estimated $430–$500/month on a 36-month term with $3,000–$4,000 down. This is the entry point and includes synthetic leather, heated seats, wireless charging, and Lexus Safety System+ 3.0.

IS 350 F Sport (RWD), $49,245 MSRP: Estimated $470–$540/month on 36 months. The F Sport adds adaptive variable suspension, ventilated front seats with larger bolsters, a rear spoiler, and red brake calipers. This is the trim we recommend for drivers who actually enjoy the drive.

AWD adds ~$30–$50/month to either trim. The AWD version pairs with a six-speed automatic instead of the eight-speed, which slightly dulls the driving dynamics. For California drivers, AWD is unnecessary unless you regularly drive mountain roads in winter.

At 021 Auto Leasing, we currently have a 2026 IS 350 F Sport available at $499/month with $4,000 down on a 39-month term. That's a real, broker-negotiated deal — not an estimated payment from a calculator.

Is the Lexus IS 350 F Sport Lease Worth the Extra Cost?

The F Sport trim adds about $40–$60/month to your lease over the F Sport Design. Here's what you get for that premium:

Adaptive Variable Suspension (AVS) — This is the biggest differentiator, adjusting damping in real time based on road conditions and driving input. The F Sport Design rides well, but the F Sport genuinely handles like a sport sedan. If you're cross-shopping a BMW 330i, this is the trim that competes.

Ventilated front seats — Not just heated, but cooled. In California, this is arguably more valuable than AWD.

Visual upgrades — Red brake calipers, a rear ducktail spoiler, and the F Sport badge. These aren't just cosmetic — they also contribute to stronger resale value when the lease ends.

The F Sport trim historically holds value better than base trims, which means Lexus Financial assigns it a higher residual value. A higher residual means a lower lease payment relative to the vehicle's sticker price. In practical terms, the $2,450 MSRP difference between the two trims doesn't translate to a full $2,450 increase in lease cost — it's partially offset by the better residual.

How to Get the Best Lexus IS Lease Deal in California

Most shoppers walk into their local Lexus dealer, get one quote, and either take it or leave it. That single-dealer approach almost always costs you money. Here's how the broker approach works differently:

We contact multiple Lexus dealers across California simultaneously with your target spec. Dealers compete on selling price — the number that directly drives your monthly payment. The dealer who wants to move inventory the most gives the best number, and we bring that deal to you.

For the IS 350, Lexus Financial Services does offer supported lease programs — unlike the Mercedes G-Class, the IS qualifies for manufacturer-backed residuals and money factors. That means the baseline deal structure is already competitive, with residuals typically in the 55–60% range on a 36-month term.

A broker's job is to push the selling price below MSRP on top of that manufacturer support. The money factor and residual are set by Lexus Financial and can't be negotiated (unless the dealer is willing to "buy down" the rate, which some will do to move inventory). The selling price is the variable — and it's where the savings happen.

We recently worked with a client who wanted a 2026 IS 350 F Sport in Ultrasonic Blue. Her local Lexus dealer in the Valley quoted $539/month with $4,500 down — at full sticker price.

We reached out to our dealer network and found the same spec at a dealership in Orange County running a quarter-end push. The negotiated selling price came in at $1,800 under MSRP, which dropped her payment to $489/month at the same $4,500 down.

That's $50/month saved, or $1,800 over the life of the lease, with zero hassle on her end.

That's a smaller savings than a G Wagon deal, but on a $47K car, getting $1,800 under sticker is significant. Multiply that across every lease in your household and it adds up fast.

IS 300 Lease vs. IS 350 Lease: Understanding the Shift

If you leased an IS 300 in 2024 or 2025 and your lease is ending, here's how the transition looks:

The 2025 IS 300 RWD started at $41,830. The 2026 IS 350 F Sport Design starts at $46,795 — a $4,965 jump. But you're getting a substantially better car: 311 hp vs. 241 hp, better standard equipment, and the latest Lexus Safety System+ 3.0 with a 12.3-inch touchscreen.

In lease payment terms, expect roughly $50–$80/month more than your outgoing IS 300 lease. That gap narrows if your broker negotiates under MSRP and if Lexus Financial is running competitive money factors (which they typically do for the IS lineup).

The good news is that the IS 350 holds its value significantly better than the IS 300 did. A stronger residual means you're paying less in depreciation over the lease term — so the real cost gap between the old IS 300 lease and a new IS 350 lease is smaller than the sticker difference suggests.

If the price increase doesn't work for your budget, check out our Lexus IS 300 model overview for used and CPO options. A 2024–2025 IS 300 F Sport with low miles is an excellent value in the used market right now, with prices dropping as the new IS 350 takes over. Our used IS 300 F Sport buying guide covers what to look for and which model years to target.

Frequently Asked Questions About Lexus IS Leasing

Can I still lease a Lexus IS 300 in 2026?

Not as a new vehicle — Lexus dropped the IS 300 from the U.S. lineup for 2026, and the entire IS range is now IS 350 only. Some dealers may still have leftover 2025 IS 300 inventory, and used/CPO IS 300 models are widely available for purchase or finance.

How much is a Lexus IS 350 lease per month?

A 2026 Lexus IS 350 F Sport Design leases for approximately $430–$500/month on a 36-month term with $3,000–$4,000 down. The F Sport trim runs about $40–$60/month higher. Broker-negotiated deals at or below MSRP bring payments to the lower end of these ranges.

Is the Lexus IS 350 F Sport worth the lease premium over the F Sport Design?

For most drivers who value the driving experience, yes. The adaptive variable suspension transforms the car's handling, and ventilated seats are a real quality-of-life upgrade in California. The F Sport also holds value better, which contributes to a stronger residual and partially offsets the higher MSRP.

Should I lease a Lexus IS 350 AWD in California?

For most Southern California drivers, no. AWD adds $2,000 to the MSRP and roughly $30–$50/month to the lease, and it pairs with a slower six-speed transmission instead of the eight-speed. Unless you regularly drive in mountain snow, the rear-wheel-drive version is the better value and the better drive.

How does a Lexus IS lease compare to a BMW 330i lease?

The 2026 BMW 330i starts at $47,500, putting it within $1,000 of the IS 350 F Sport Design, and BMW often runs more aggressive lease incentives so monthly payments can be comparable. The IS wins on reliability and long-term ownership costs; the BMW wins on driving dynamics and tech. A broker can pull competitive quotes on both to help you decide.

Ready to lease a Lexus IS at a price the dealership won't offer? Request your personalized IS 350 lease quote from 021 Auto Leasing — or browse our current Lexus deals to see what's available right now.