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HomeToyotaToyota Corolla
2023 Toyota Corolla
#3 Best Compact Cars of 2023

Used 2023 Toyota Corolla

4.4
rating
Expert
4.0
rating
Consumer
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2023 Toyota Corolla Exterior: 0
2023 Toyota Corolla Exterior: 1
Exterior (19)
2023 Toyota Corolla Interior: 0
Interior (22)
2023 Toyota Corolla Exterior: 0

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Hybrid Variation Available

Fuel Economy
34 - 35 combined mpg
Horsepower
169 hp
Engine
4-Cyl, Dynamic-Force, 2.0 Liter
Cargo Volume
13.1 cu ft
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2023 Toyota Corolla Review

Eric Brandt

By Eric Brandt

Updated January 30, 2025

Eric Brandt is a Managing Editor, with more than a decade of experience in automotive journalism. He has written extensively about cars and motorcycles and has produced video and social media content that helps vehicle shoppers make informed decisions. In addition to Kelley Blue Book and Autotrader, his work has appeared in The Drive, Cars & Bids, The Motley Fool, and others. Eric specializes in family vehicles guiding readers and viewers toward car choices that suit their needs, wants, and budgets. Eric lives in Wisconsin with his wife and six children, and spends his free time riding his Gold Wing, autocrossing his Corvette, and camping with his family.

Pros

  • Famously reliable
  • Fuel-efficient
  • Many standard features

Cons

  • Trunk not as roomy as others

What's New?

  • Refreshed styling
  • Standard 2.0-liter engine
  • Updated infotainment and safety tech

The Toyota Corolla has a long track record as a good value in compact cars. It’s a practical car with excellent fuel economy and consistently good safety and reliability ratings. The Corolla gets a refresh for 2023, with new front and rear styling plus updated safety and infotainment features to keep it competitive with compacts like the Honda Civic, Hyundai Elantra, and Mazda3. It’s also dropped the old 1.8-liter 4-cylinder engine in favor of a 2.0-liter engine, which is now standard. There are also hatchback and hybrid variants of the Corolla, which are reviewed separately.

2023 Toyota Corolla Pricing

2023 Toyota Corolla pricing starts at $20,700 for the Corolla SE Sedan 4D, which had a starting MSRP of $25,045 when new. The range-topping 2023 Corolla XSE Sedan 4D starts at $21,900 today, originally priced from $27,945.

Original MSRP
KBB Fair Purchase Price (national avg.)
SE Sedan 4D
$25,045
$20,700
LE Sedan 4D
$25,235
$19,600
XSE Sedan 4D
$27,945
$21,900

The Kelley Blue Book Fair Purchase Price for any individual used vehicle can vary greatly according to mileage, condition, location, and other factors. The prices here reflect what buyers are currently paying for used 2023 Toyota Corolla models in typical condition when purchasing from a dealership. These prices are updated weekly.

Driving the Toyota Corolla

We’re pleased that the 2.0-liter 4-cylinder engine is now the standard powerplant in the Toyota Corolla. The old 1.8-liter engine, which was discontinued this year, was hard to recommend since the 2.0-liter unit is both more powerful and more fuel-efficient.

This 169-horsepower engine has more than enough muscle for the daily drive, but it’s still not as exciting as the sporty variants of the Honda Civic, Mazda3, and Hyundai Elantra.

Most trims of the Corolla are tuned for comfort over performance. The ride is compliant, the seats are comfortable, and it’s hard to find fault in how it drives. It gets a little sportier in the Apex Edition models thanks to the lowered sport-tuned suspension and a sport-tuned exhaust.

Interior Comfort

The interior of the Toyota Corolla is a pleasant place to be. The seats are comfortable, and there’s adequate space in the rear seats for a car this size. It’s worth noting that the Corolla sedan has more rear-seat space than the Corolla hatchback.

The Corolla gets a little nicer inside in the upper trims. The upper trims get SofTex faux leather seating rather than cloth, and you can get features like a wireless charging pad, JBL audio, and a 7-inch driver information screen.

As for cargo space, the trunk is a little small, even for a compact car. It’s fine if you don’t need a ton of cargo room, but if you’re looking for a small car with a lot of space, consider the hatchback variants of the Corolla, Mazda3, or Honda Civic.

Exterior Styling

The exterior of the Corolla gets a refresh for 2023. The front and rear fascias are new, and it has stylish LED signature lighting. The SE and XSE models get a new rear diffuser and 18-inch gloss graphite-colored wheels.

The Apex Edition models get a sporty appearance package with unique wheels, a lower stance, a black/bronze body kit, a sport mesh black grille, and a rear spoiler.

The size of the Corolla is in line with other compact sedans in this class. Its dimensions are similar to the Honda Civic, Mazda3, and Nissan Sentra.

Favorite Features

1. Standard 2.0-liter engine
The new standard engine in the Corolla is a 2.0-liter 4-cylinder engine, which is a nice upgrade over the outgoing 1.8-liter engine. The new standard engine makes 169 horsepower and returns up to 40 mpg on the highway, making it a perfect fit for the Corolla.

2. Toyota Safety Sense 3.0
The new standard safety tech suite in the Corolla bundles many desirable features. It has automatic emergency braking with pedestrian detection, lane-keep assist, adaptive cruise control, lane tracing assist, road sign assist, and automatic high beams.

3. 8-inch Toyota Audio Multimedia
The standard 8-inch screen in the Corolla is loaded with features like wireless Android Auto and Apple CarPlay, dual Bluetooth phone connectivity, and over-the-air updates.

4. Great fuel economy
An impressive fuel economy rating adds to the value proposition of the Corolla. The standard 4-cylinder engine is rated at 31 city/40 highway/34 combined mpg. No matter what the gas price is in your area, the Corolla has lower fuel costs than most of its rivals.

5. Apex Edition
The Apex Edition adds style and performance to the Corolla. It comes with the same base engine as the rest of the Corolla lineup, but it has a lowered, sport-tuned suspension, a sport-tuned exhaust, and an appearance package that conveys its sportier nature.

6. Intelligent Assistant
This optional feature on the Corolla adds a cool piece of modern tech to this compact. Just say, “Hey, Toyota,” and the infotainment system acts like a smart speaker responding to voice commands. You can use it to get directions, control the audio, change the temperature, and more.

Engine & Transmission

The Toyota Corolla used to come standard with a 1.8-liter 4-cylinder engine, but that’s been dropped for the 2023 model year. The standard engine is now a 2.0-liter 4-cylinder rated at 169 horsepower. It’s also good on gas, returning up to 34 combined mpg. The old 1.8-liter mill was a bit underpowered, so we can’t say we miss it.

Every non-hybrid Corolla sedan has front-wheel drive (FWD) and a continuously variable automatic transmission (CVT).

2.0-liter 4-cylinder engine
169 horsepower @ 6,600 rpm
151 lb-ft of torque @ 4,400 rpm
EPA city/highway fuel economy: 31/40 mpg


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New Toyota Corolla Deals and Incentives

APR

4.49% APR | 48 months

Get 4.49% APR for 48 months on a new 2026 Corolla Hybrid.

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End Date: 09/30/2026
LEASE

$259 /mo | 36 months | Due at Signing

Lease a new 2026 Corolla Hybrid LE for $259 per month for 36 months with $3,999 due at signing.

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End Date: 09/30/2026
See All Current Corolla Deals

2023 Toyota Corolla
KBB.com Consumer Reviews

4.0
Consumer Rating
Based on 109 Consumer Reviews
Write a Review
77%Recommend this vehicle
Value
4.0
Performance
3.9
Quality
4.0
Comfort
3.9
Reliability
4.3
Styling
4.2

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2023 Toyota Corolla Values and Prices

Style
Trade-In Value
Private Party Value
Fair Purchase Price
LE Sedan 4D
$15,250
$17,800
$19,600
SE Sedan 4D
$17,250
$18,750
$20,700
XSE Sedan 4D
$18,500
$19,750
$21,900
Values above are based on "Good" condition vehicles. Estimated Trade-In Values range from about $15,250 to $18,500 depending on vehicle style. Estimated Private Party Values range from about $17,800 to $19,750 depending on vehicle style. Values and prices are based on national averages and typical mileage for this model, but they can vary greatly according to mileage, condition, location, and other factors. Valid through 9/11/2026.
Trade-In Value
Trade-In Value is the amount you can expect to receive this week when trading in your vehicle at a dealership.
Private Party Value
Private Party Value is the fair price you can expect when selling your car to an individual, not to a dealer.
Fair Purchase Price
Fair Purchase Price shows what others in your area are actually paying for this vehicle.
Style
Trade-In Value
Private Party Value
Fair Purchase Price
Core Hatchback 4D
$25,900
$29,500
$31,800
Circuit Edition Hatchback 4D
$28,200
$33,200
$35,700
Morizo Edition Hatchback 4D
$34,200
$38,500
$41,400
Values above are based on "Good" condition vehicles. Estimated Trade-In Values range from about $25,900 to $34,200 depending on vehicle style. Estimated Private Party Values range from about $29,500 to $38,500 depending on vehicle style. Values and prices are based on national averages and typical mileage for this model, but they can vary greatly according to mileage, condition, location, and other factors. Valid through 9/11/2026.
Trade-In Value
Trade-In Value is the amount you can expect to receive this week when trading in your vehicle at a dealership.
Private Party Value
Private Party Value is the fair price you can expect when selling your car to an individual, not to a dealer.
Fair Purchase Price
Fair Purchase Price shows what others in your area are actually paying for this vehicle.
Style
Trade-In Value
Private Party Value
Fair Purchase Price
XLE Sedan 4D
$16,600
$18,200
$19,950
SE Infrared Sedan 4D
$17,500
$18,700
$20,800
LE Sedan 4D
$16,750
$19,050
$21,100
SE Sedan 4D
$16,950
$19,800
$21,900
Values above are based on "Good" condition vehicles. Estimated Trade-In Values range from about $16,600 to $17,500 depending on vehicle style. Estimated Private Party Values range from about $18,200 to $19,800 depending on vehicle style. Values and prices are based on national averages and typical mileage for this model, but they can vary greatly according to mileage, condition, location, and other factors. Valid through 9/11/2026.
Trade-In Value
Trade-In Value is the amount you can expect to receive this week when trading in your vehicle at a dealership.
Private Party Value
Private Party Value is the fair price you can expect when selling your car to an individual, not to a dealer.
Fair Purchase Price
Fair Purchase Price shows what others in your area are actually paying for this vehicle.
Style
Trade-In Value
Private Party Value
Fair Purchase Price
SE Hatchback 4D
$16,050
$19,000
$21,000
XSE Hatchback 4D
$18,600
$20,400
$22,500
Values above are based on "Good" condition vehicles. Estimated Trade-In Values range from about $16,050 to $18,600 depending on vehicle style. Estimated Private Party Values range from about $19,000 to $20,400 depending on vehicle style. Values and prices are based on national averages and typical mileage for this model, but they can vary greatly according to mileage, condition, location, and other factors. Valid through 9/11/2026.
Trade-In Value
Trade-In Value is the amount you can expect to receive this week when trading in your vehicle at a dealership.
Private Party Value
Private Party Value is the fair price you can expect when selling your car to an individual, not to a dealer.
Fair Purchase Price
Fair Purchase Price shows what others in your area are actually paying for this vehicle.
See Full Specs for All 2023 Toyota Corolla Styles
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2023 Toyota Corolla Depreciation

A 2023 Toyota Corolla has depreciated $7,535 or 29% in the last 3 years and has a current resale value of $17,700 and trade-in value of $15,350.

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2023 Toyota Corolla
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2023 Toyota Corolla Annual Depreciation

Year
Vehicle Depreciation*
Resale Value
Trade-In Value
2023
-
$25,235
$25,235
2024
$4,347
$20,888
$18,923
2025
$1,509
$19,379
$17,315
Now
$1,679
$17,700
$15,350
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2-Year Forecasted Depreciation

*Depreciation for the last 12 months of the private party resale value.

2023 Toyota Corolla Depreciation

Annual Depreciation is an estimation of what your vehicle's value might be over time based on an average of similar vehicles. Estimations are calculated by comparing Kelley Blue Book Private Party Values of vehicles similar to yours over time, as well as forecasts from Manheim Auction data comparing current and projected auction values against current Kelley Blue Book Private Party and Trade-In Values. This is not a guarantee of actual depreciation. Local weather conditions, market factors and driver performance will also impact your vehicle's actual depreciation.


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Specifications

Dimensions, Weights & Capacities

Curb Weight
2955 lbs.
EPA Total Interior
88.6 cu.ft.
Fuel Capacity
13.2 gallons
Front Head Room
38.3 inches
Front Leg Room
42.0 inches
Max Seating Capacity
5
Minimum Ground Clearance
5.3 inches
Overall Length
182.3 inches
Front Shoulder Room
54.0 inches
Trunk or Cargo Capacity
13.1 cu.ft.
Turning Diameter
35.6 feet
Wheel Base
106.3 inches
Width with mirrors
70.1 inches

Exterior

Alloy Wheels
Available
Moon Roof/Sun Roof
Available
Number of Doors
4 doors
Roof Rails
Available
LED Headlights
Available
Rear Spoiler
Available

Fuel Economy

City
32 mpg
Highway
41 mpg
Combined
35 mpg

Mechanical

Drivetrain
FWD
Transmission Type
Automatic
Recommended Fuel
Regular
Hill Start Assist
Available

Performance

Horsepower
169 @ 6600 RPM
Torque
151 @ 4400 rpm
Engine
4-Cyl, Dynamic-Force, 2.0 Liter

Warranty

Basic
3 years / 36000 miles
Powertrain
5 years / 60000 miles
Corrosion
5 years / Unlimited miles

Comfort & Convenience

  • Remote Control Liftgate/Trunk Release
  • Integrated Garage Door Opener

Entertainment

  • Satellite Radio
  • Bluetooth Streaming Audio

Interior

  • Power Windows
  • Rear Window Defroster
  • 12V Power Outlet
  • Power Outlet
  • Steering Wheel Controls
  • Tilt Steering Wheel
  • Tilt/Telescoping Steering Wheel

Seating

  • Folding Rear Seat
  • Cloth Seats

Technology

  • Bluetooth Wireless Technology
  • Cruise Control
  • Hands Free Phone
  • Remote Keyless Entry
  • Internet Access
  • Proximity Sensing Keyless Entry
  • Push-Button Engine Start
  • Smartphone Interface
  • Touch Screen Monitor
  • USB Port
  • Voice Recognition System

2023 Toyota Corolla Safety

Safety Features & Technology

Dynamic Radar Cruise Control

Full-speed adaptive cruise control adds safety and comfort to highway driving by automatically keeping a safe and steady distance from the car in front of you.

Pre-Collision System

This automatic emergency braking system includes pedestrian detection. It comes standard on every Corolla.

Lane Departure Alert

This standard system warns the driver if you’re drifting out of your lane, and a steering assist feature can help keep you safely in your lane.

5.0

Crash Test Rating

Provided by the National Highway Traffic Safety Administration
Frontal Crash
5.0
Side Barrier
5.0
Rollover Rating
4.0
Side Crash
5.0

Compare to Similar Vehicles

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Used 2023
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See Details
See Details
See Details
Price
$19,600
$20,200
$21,800
$19,150
KBB.com Rating
4.4
4.6
3.9
4.1
Consumer Rating
4.0
4.0
4.2
3.9
Fuel Economy
City 32/Hwy 41/Comb 35 MPG
City 30/Hwy 40/Comb 34 MPG
City 29/Hwy 40/Comb 33 MPG
City 28/Hwy 37/Comb 32 MPG
Fuel Type
Gas
N/A
N/A
N/A
Safety Rating
5.0
5.0
5.0
N/A
Seating Capacity5555
Basic Warranty
3 years or 36000 miles
5 years or 60000 miles
4 years or 50000 miles
3 years or 36000 miles
Horsepower
169 @ 6600 RPM
147 @ 6200 RPM
158 @ 5500 RPM
149 @ 6000 RPM
Engine
4-Cyl, Dynamic-Force, 2.0 Liter
4-Cyl, 2.0 Liter
4-Cyl, Turbo, 1.5 Liter
4-Cyl, 2.0 Liter
Drivetrain
FWD
FWD
FWD
FWD

2023 Toyota Corolla Rankings

Rank
Vehicles
HP
#1
2023 Hyundai Sonata Hybrid
192
#2
2024 MAZDA MAZDA3
191
#3
2023 Hyundai Sonata
191
#4
2024 Nissan Altima
188
#6
2023 Toyota Corolla
169

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FAQs

Is the 2023 Toyota Corolla a good car?

Yes, the Toyota Corolla is a safe and reliable compact car with excellent fuel economy and modern tech features.

How much is a 2023 Toyota Corolla?

We expect the 2023 Toyota Corolla to start at about $22,000.

How many miles can a 2023 Toyota Corolla last?

The low-maintenance Toyota Corolla earns excellent reliability ratings. This compact can last many years and miles with routine maintenance.

Is the 2023 Toyota Corolla a good vehicle?

Yes, the 2023 Toyota Corolla is a good car, as reflected by its above-average Kelley Blue Book rating of 4.4 out of 5.

What is the MPG for a 2023 Toyota Corolla?

2023 Toyota Corolla city/highway fuel economy ratings range from 31/40 mpg to 32/41 mpg, depending on trim and equipment.

How much should a 2023 Toyota Corolla cost?

Used 2023 Toyota Corolla prices currently range from $19,600 for the LE Sedan 4D to $21,900 for the XSE Sedan 4D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.

What's the cheapest Toyota Corolla?

The cheapest 2023 Toyota Corolla is the LE Sedan 4D, with a Kelley Blue Book Fair Purchase Price of $19,600.

Is the 2023 Toyota Corolla reliable?

The 2023 Toyota Corolla is part of the 12th-generation Corolla, which our owners give an above-average reliability rating of 4.3 out of 5.

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