Used 2023 Toyota Corolla for Sale nearLondon, ON

How much does the 2023 Toyota Corolla cost?

Prices have softened 8.28% compared to this time last year, making it a favourable time to shop this model year.

There are 540 listings available, which suggests you should have a reasonable amount of inventory to compare.

Is the 2023 Toyota Corolla a good car?

Generally — the 2023 Toyota Corolla is a strong fit if you want a practical compact car with more body-style and feature choice than earlier versions. The Corolla lineup gives you sedan and hatchback options, plus hybrid and GR variants, so you can lean toward efficiency, everyday usability, or a more performance-focused setup depending on your needs. It also brings a useful equipment update for 2023, including fresh bumper designs, an eight-inch touchscreen, and wireless Apple CarPlay and Android Auto support.

That broad usefulness is reflected in its 4.33/5 user rating. With 33.1% of listings marked as good or great deals, you also have a decent chance of finding a competitively priced example.

Is the 2023 Toyota Corolla reliable?

Owners rate it 4.33/5, a solid signal of long-term satisfaction.

The Corolla’s appeal is reinforced by its strong reliability reputation and its focus on sensible ownership rather than flash. It is built around practicality, efficiency, and everyday ease of use, which is exactly what many used-car shoppers want from a compact car.

For used buyers, the main long-term ownership risk is usually less about the Corolla’s core durability and more about choosing the right version for your needs, since the range spans very different body styles and powertrains.

Is now a good time to buy a used 2023 Toyota Corolla?

This looks like a moderate, selective buyer’s market, so you can shop carefully without feeling rushed.

• Deal availability: 33.1% of listings are priced as good or great deals.
• Inventory: There are 540 listings available.
• Price trend: Prices have softened 8.28% compared with last year.

If you find a listing below $24,286 CAD, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2023 Toyota Corolla's resale value?

The current average of $24,309 CAD sits slightly below last year's $26,502 CAD.

That softer pricing can help you as a buyer today, but it also means a future seller may have less room to benefit from appreciation. If you buy well now, the Corolla’s value should still be supported by steady demand for practical compact cars.

Vehicles with solid owner satisfaction ratings, like this model year's 4.33/5, tend to retain buyer demand, which supports resale value over time.

Should I buy a 2023 Toyota Corolla or consider a different year?

If you're weighing the 2023 against nearby model years, here's how to think about it:

Choose the 2023 if:

• 33.1% of listings are priced as good or great deals.
• Price trend: Prices have softened 8.28% compared with last year.
• Owners rate it 4.33/5 — a solid satisfaction signal.

Consider the 2022 if:

• At $22,306 CAD, the 2022 costs less than the current year's $24,309 CAD average.
• It still gives you broad configuration choice and familiar practicality.

The bottom line: If you want the better-equipped and more current version, the 2023 is the stronger all-around pick. If your priority is saving money upfront, the 2022 is the better value path, especially if you can find one in good condition with the features you need.

These recommendations are based on CarGurus' proprietary market data from September 29, 2026, CarGurus experts' opinions, and generative AI.