In a time of endless crossovers and SUVs, the Toyota sedan lineup continues to sell well — with the compact Corolla and the midsize Camry. For those choosing between the two sedans, there’s an important element in the Corolla’s favor. The 2023 Toyota Corolla has one huge strength over the 2023 Toyota Camry: It’s more affordable to buy and own. 

2023 Toyota Corolla is more affordable than the 2023 Toyota Camry

Inflation has caused vehicle prices to skyrocket over the past two years. It’s challenging to find a new car that won’t do some damage to your bank account. However, the 2023 Toyota Corolla is a budget-friendly exception. It’s the most affordable new car in the Toyota lineup — and much cheaper than the 2023 Toyota Camry.

The starting price of the Corolla ranges from $21,550 MSRP for the L trim up to $26,700 MSRP for the XSE trim. Compared to the Corolla, the Camry has a starting price that’s $4,650 higher — and is considerably more expensive for the upper trims. It starts at $26,220 MSRP for the LE trim and goes up to $36,645 MSRP for the XSE V6 trim. 

2023 Corolla has lower ownership costs than the 2023 Camry

In addition to having a lower purchase price, the 2023 Toyota Corolla is more affordable to own than the 2023 Toyota Camry. This lower ownership cost is due to a couple of reasons. The first is reliability. 

Toyota has a long-standing reputation for high-level reliability — and this is exemplified by the 2023 Toyota Corolla. Following the annual Auto Reliability Survey, Consumer Reports put out a list of the 10 most reliable cars. The hybrid version of the Corolla took the top spot as the most reliable car, while the standard gas-powered model placed seventh. However, the 2023 Toyota Camry didn’t make the list.

There are multiple benefits of high-level reliability. This includes longevity, safety, optimal performance, and the peace of mind of dependably getting you to your destination. A reliable car like the Corolla also typically translates to fewer and less severe repairs. This results in less money spent at a service center. 

The other factor that keeps ownership costs low for the Corolla is its high gas mileage. It’s a very efficient car, resulting in savings at the pump. It gets an estimated fuel economy of up to 31 city/40 highway mpg, compared to 28 city/39 highway mpg for the Camry. 

Other benefits of the Toyota Corolla over the Camry

There are other benefits of the 2023 Corolla over the 2023 Camry. With its lighter weight, smaller size, and tighter turning circle, the Corolla is more maneuverable than the Camry. The maneuverability aids such things as parking, backing up, and driving through curves and around corners. 

Also, unlike Camry, the Corolla offers a hatchback model. An advantage of the Corolla Hatchback is its versatile configurations. Plus, it offers more total cargo space than the Camry (23.0 vs. 15.1 cu-ft). 

The 2023 Toyota Corolla is more affordable to buy and own than the 2023 Toyota Camry, which gives it a big strength. When choosing which car to get, affordability is a crucial factor to consider.