Used 2023 Toyota Corolla for Sale nearScarborough, ON

How much does the 2023 Toyota Corolla cost?

Prices have softened 7.58% compared to this time last year, making it a favourable time to shop this model year.

There are 520 listings available, which gives you a decent amount of inventory to compare.

Is the 2023 Toyota Corolla a good car?

Generally — 4.33/5 is a strong user rating for a compact car that leans into practicality, efficiency, and low-stress ownership. The 2023 Corolla’s appeal is its broad range of body styles and features, including sedan and hatchback choices, plus useful standard equipment such as wireless Apple CarPlay and Android Auto, blind spot monitoring on most versions, and a well-equipped base model. If you want a sensible daily driver with broad appeal rather than something sporty, this model year fits that brief well. With 31.2% of listings marked as good or great deals, you also have a reasonable 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 2023 Corolla is described as having a strong dependability record, and its appeal is tied closely to Toyota’s reputation for practical, low-drama ownership. It also benefits from a straightforward layout and a focus on everyday usability, which tends to reduce ownership headaches over time. For used buyers, the main long-term risk is less about complexity and more about choosing a well-maintained example that has been cared for properly.

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

This is a moderate, selective buyer’s market, so you can shop patiently and still find worthwhile options.

• Deal availability: 31.2% of listings are priced as good or great deals.
• Inventory: There are 520 listings available.
• Price trend: Prices have softened 7.58% compared with last year.

If you find a listing below $24,277 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 $24,354 CAD sits slightly below last year's $26,353 CAD.

That softer pricing can be helpful if you are buying now, but it also means future sellers may face a more competitive market if prices stay under pressure. The Corolla’s broad appeal and practical reputation should help support demand, especially for well-equipped examples. Still, resale value will depend heavily on condition, mileage, and how closely a specific car matches what shoppers want.

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:

• 31.2% of listings are priced as good or great deals.
• Price trend: Prices have softened 7.58% compared with last year.
• Owners rate it 4.33/5 — a solid satisfaction signal.

Consider the 2022 if:

• At $22,266 CAD, the 2022 costs less than the current year's $24,354 CAD average.
• It offers broad choice across body styles, transmissions, and powertrains.

The bottom line:
Choose the 2023 if you want the newer model-year updates, stronger feature content, and a market that still offers some deal opportunities. If your priority is spending less up front, the 2022 is the better value play, especially if you can find one in good condition with the equipment you want.

These recommendations are based on CarGurus' proprietary market data from October 6, 2026, CarGurus experts' opinions, and generative AI.