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By Eric Brandt
Updated January 30, 2025
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 starts at $22,786 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 $24,700 today, originally priced from $27,945.
Original MSRP | KBB Fair Purchase Price (national avg.) | |||
---|---|---|---|---|
$25,045 | $22,786 | |||
$25,235 | $21,636 | |||
$27,945 | $24,700 |
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.
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.
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.
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.
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.
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
Get 4.99% APR for 60 months on a new 2025 Corolla.
Lease a new 2025 Corolla LE for $259 per month for 36 months with $2,999 due at signing.
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Year | Vehicle Depreciation* | Resale Value | Trade-In Value | ||
---|---|---|---|---|---|
2023 | - | $25,235 | $25,235 | ||
2024 | $4,838 | $20,397 | $18,063 | ||
Now | $339 | $20,058 | $17,869 |
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2-Year Forecasted Depreciation
*Depreciation for the last 12 months of the private party resale value.
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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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 |
Alloy Wheels | Available | ||
---|---|---|---|
Moon Roof/Sun Roof | Available | ||
Number of Doors | 4 doors | ||
Roof Rails | Available | ||
LED Headlights | Available | ||
Rear Spoiler | Available |
City | 32 mpg | ||
---|---|---|---|
Highway | 41 mpg | ||
Combined | 35 mpg |
Drivetrain | FWD | ||
---|---|---|---|
Transmission Type | Automatic | ||
Recommended Fuel | Regular | ||
Hill Start Assist | Available |
Horsepower | 169 @ 6600 RPM | ||
---|---|---|---|
Torque | 151 @ 4400 rpm | ||
Engine | 4-Cyl, Dynamic-Force, 2.0 Liter |
Basic | 3 years / 36000 miles | ||
---|---|---|---|
Powertrain | 5 years / 60000 miles | ||
Corrosion | 5 years / Unlimited miles |
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.
Used 2023 Toyota Corolla | New 2025 Toyota Corolla | Used 2023 Hyundai Elantra | Used 2023 Volkswagen Jetta | ||
---|---|---|---|---|---|
Price | $21,636 | $23,460 | $21,670 | $19,888 | |
KBB.com Rating | 4.4 | 4.5 | 4.6 | 3.9 | |
Consumer Rating | 4.1 | 4.1 | 4.1 | 4.1 | |
Fuel Economy | City 32/Hwy 41/Comb 35 MPG | City 32/Hwy 41/Comb 35 MPG | City 30/Hwy 40/Comb 34 MPG | City 29/Hwy 40/Comb 33 MPG | |
Fuel Type | Gas | Gas | N/A | N/A | |
Safety Rating | 5.0 | N/A | 5.0 | 5.0 | |
Seating Capacity | 5 | 5 | 5 | 5 | |
Basic Warranty | 3 years or 36000 miles | 3 years or 36000 miles | 5 years or 60000 miles | 4 years or 50000 miles | |
Horsepower | 169 @ 6600 RPM | 169 @ 6600 RPM | 147 @ 6200 RPM | 158 @ 5500 RPM | |
Engine | 4-Cyl, Dynamic-Force, 2.0 Liter | 4-Cyl, Dynamic-Force, 2.0 Liter | 4-Cyl, 2.0 Liter | 4-Cyl, Turbo, 1.5 Liter | |
Drivetrain | FWD | FWD | FWD | FWD |
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Yes, the Toyota Corolla is a safe and reliable compact car with excellent fuel economy and modern tech features.
We expect the 2023 Toyota Corolla to start at about $22,000.
The low-maintenance Toyota Corolla earns excellent reliability ratings. This compact can last many years and miles with routine maintenance.
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.
2023 Toyota Corolla city/highway fuel economy ratings range from 31/40 mpg to 32/41 mpg, depending on trim and equipment.
Used 2023 Toyota Corolla prices currently range from $21,636 for the LE Sedan 4D to $24,700 for the XSE Sedan 4D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.
The cheapest 2023 Toyota Corolla is the LE Sedan 4D, with a Kelley Blue Book Fair Purchase Price of $21,636.
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.