How much does your favorite vehicle truly cost?
When you purchase a vehicle, you’re not just paying for the car itself. Ongoing costs like fuel, maintenance, insurance, and value depreciation affect how much you’ll be paying for your vehicle years down the road.
That’s why Kelley Blue Book (KBB.com), an automotive research company, takes those variables and tallies their long-term price. And in 2023, Toyota won the company’s 5-Year Cost to Own brand award — meaning that, compared to other vehicle brands, it costs less to own a Toyota in the long run. It’s Toyota’s third consecutive year receiving the award.
KBB.com also recognized specific vehicles in different categories based on their cost to own. Let’s see which Toyota models were top of their class.
2023 Toyota Corolla Hybrid
In 2023, there are more Corolla Hybrid trims than gas-powered trims!
Distinction: Best 5-Year Cost to Own award for Hybrid Vehicle
KBB.com’s estimated 5-year cost to own: $30,207
It makes sense that a hybrid would have fewer ongoing costs than a gas-powered vehicle — and it makes even more sense that KBB.com picked the 2023 Corolla Hybrid. This vehicle’s 5-year cost to own is $30,207, about $11,000 less than the average hybrid.
Thanks to its additional electric motor and battery, the 2023 Corolla Hybrid boasts up to 50 combined miles per gallon. In 2023, the Corolla Hybrid also has four different trim levels, compared to just one in 2022. This expansion gives you more options than ever, whether it be the Hybrid SE Infrared Edition’s stylish red accents or the Hybrid XLE’s standard power tilt/slide moonroof.
Click here to learn more about the 2023 Corolla Hybrid.
2023 Toyota Sienna
Toyota redesigned the Sienna in 2021, with
every trim now featuring a hybrid powertrain.
Distinction: Best 5-Year Cost to Own award for Minivan
KBB.com’s estimated 5-year cost to own: $42,669
The 2023 Toyota Sienna is a minivan, but it’s also a hybrid. This uncommon but advantageous combination and the vehicle’s “class-leading value” led KBB.com to place it at the top of the minivan category. The Sienna’s 5-year cost to own is $42,669 – about $6,300 less than other minivans.
With a standard hybrid powertrain on every trim, the 2023 Toyota Sienna boats up to 36 combined miles per gallon. This year also marks the Sienna’s 25th year in production, ushering in the 25th Anniversary Edition Sienna. This vehicle has unique features like special badging and memory seats, which save the seat position settings of two drivers. Only 2,525 will be produced.
Click here to learn more about the 2023 Sienna.
2023 Toyota Tundra
Distinction: Best 5-Year Cost to Own award for Full-Size Pickup Truck
KBB.com’s estimated 5-year cost to own: $48,254
When it comes to the 2023 Toyota Tundra, KBB.com is complimentary as ever. The Tundra has “rugged good looks, a comfortable cabin, and recognized reliability and resale value,” says KBB.com*. Leading the Full-Size Pickup Truck category, its 5-year cost to own is $48,254 — nearly $11,000 less than the average truck.
Toyota redesigned the Tundra from the ground-up in 2022. Among the changes is the available i-Force MAX engine, an award-winning hybrid powertrain that offers 437 horsepower and 583 lb.-ft of torque. This year’s Tundra also adds the SX appearance package to the SR5, which features Dark Gray Metallic 18-in. wheels and extra black trimming.
Click here to learn more about the 2023 Tundra.
Make an informed decision when it comes to your vehicle
It’s important to choose a vehicle that is not only affordable at the get-go but also affordable as the years pass. Alongside the 5-Year Cost to Own award, Toyota also won Kelley Blue Book’s Best Resale Value brand award in 2023.
With low ongoing costs and unmatched value, Toyota has proved it will provide for you in the present and the future. Visit your local Toyota dealership to see which Toyota is right for you.
*From 2023 Toyota Tundra Double Cab Review on Kelley Blue Book’s KBB.com. Kelley Blue Book is a registered trademark of Kelley Blue Book Co., Inc.