And both models come with a good amount of options.

The 2021 Lexus IS sedan hits dealerships later this year, but today the company is revealing how much its new luxury sedan will cost. The most affordable version is the base IS 300 rear-wheel-drive model, which costs $39,900 before options and delivery fees ($1,025). That is the lone four-cylinder Lexus IS in the range, powered by a turbocharged 2.0-liter good for 241 horsepower (179 kilowatts) and 250 pound-feet (338 newton-meters).

Moving to the IS 300 all-wheel-drive model will cost $41,000, and that version gets a 3.5-liter V6 engine with 260 hp (194 kW) and 236 lb-ft (319 nm). At the top of the range is the IS 350 F Sport (the F Sport visual package is now standard on the 350), which costs $42,900 with rear-wheel drive or $44,900 with all-wheel drive. Powering the IS 350 F Sport is a 3.5-liter V6 that produces 311 hp (231 kW) and 280 lb-ft (380 nm). Here's how it all breaks down:

2021 Lexus IS 350 F Sport Exterior
2021 Lexus IS 350 F Sport Exterior
  Price Engine Performance
IS 300 RWD $39,900 Turbo 2.0L Four-Cylinder 241 HP / 250 LB-FT
IS 300 AWD $41,000 3.5L V6 260 HP / 236 LB-FT
IS 350 F Sport RWD $42,900 3.5L V6 311 HP / 280 LB-FT
IS 350 F Sport AWD $44,900 3.5L V6 311 HP / 280 LB-FT

Most versions of the 2021 Lexus IS are actually more affordable than their predecessors – apart from the base IS 300 RWD, which sees a price hike of $1,340. The IS 300 AWD is $10 cheaper than the previous model, the IS 350 RWD F Sport is $2,475 cheaper, and the IS 350 AWD F Sport is $1,810 cheaper. That said, the IS 300 does lose the F Sport option for 2021.

The options list for the new IS isn't too long, either. Things like LED headlights, push-button start, rain-sensing wipers, and Lexus Safety System Plus 2.5 (with automatic emergency braking, lane-keep assist, lane tracing, and adaptive cruise control) come standard on every trim, even the base 300 RWD model. In terms of technology, every Lexus IS features a standard 8.0-inch touchscreen with Apple CarPlay, Android Auto, and Amazon Alexa compatibility.

2021 Lexus IS Interior
2021 Lexus IS Interior
  Price
Premium Paint $425 / $595
Intuitive Parking (With Brake Assist) / Intuitive Parking (With Pedestrian Detection) $600 / $1,400
Mark Levinson Audio System $1,080
Triple-Beam LED Headlights $1,250
Navigation Package $1,670
Comfort Package (300 Only) $1,950
F Sport Dynamic Handling Package (AWD) $3,800
F Sport Dynamic Handling Package (RWD) $4,200

If you want a larger 10.3-inch touchscreen with navigation, it will cost an extra $1,670. And other options like advanced parking assist, rear automatic emergency braking, navigation, a power moonroof, and nicer exterior colors will set you back even more. The most expensive option, though – available exclusively on the IS 350 F Sport models – is the new F Sport Dynamic Handling package, which adds an adaptive suspension and a limited-slip differential on the rear-drive model. That costs $4,200 on the rear-wheel-drive model and $3,800 on the all-wheel-drive model. Assuming you tick every option box offered on the range-topping IS 350 F Sport AWD, you could be spending more than $55,000.

The new 2021 Lexus IS officially hits dealerships in the US later this year. We'll have our full review on Lexus's latest luxury sedan in the coming weeks.

Gallery: 2021 Lexus IS Pricing