Toyota is one of the world’s most important car manufacturers today. The company has made a name for itself by producing affordable vehicles that are durable and inexpensive to maintain. From reliable powertrains to innovations in fuel economy, its core business is making cars that appeal to just about everyone.
If you’re looking for an affordable vehicle that offers tons of value in the form of standard features, Toyota is one of the best brands to go with. Regardless of what segment you’re looking in, it’s likely that they have an option that will meet all of your needs while still being more affordable than most of their competitors.
We’ve looked at Toyota’s current lineup and found the most affordable car in each segment. We’ve sorted them by segment and MSRP to find the Japanese brand’s most affordable options. We’ll take a look at the value they offer and what’s under the hood, and show how each option stacks up against its rivals.
To provide you with the most current and accurate information possible, the data used to create this article comes from Toyota and other authoritative sources.
10 Cheapest compact car – Corolla
MSRP: $22,050
The cheapest Toyota you can buy new in 2024 is the Corolla sedan. It’s not the most impressive or exciting option on the market, but it’s the most sensible. Its value lies not in its performance, but in its standard features.
Performance specifications
Motor |
2.0-litre inline four-cylinder naturally aspirated engine |
transmission |
10-speed CVT automatic |
PS |
169 hp |
Torque |
151 pound-feet |
drive |
Front-wheel drive |
0–60 mph |
8.3 seconds |
Top speed |
183km/h |
The Corolla has a sluggish powertrain under the hood that prioritizes efficiency and reliability above all else. A hybrid version of the powertrain is available in the sedan models, but hatchbacks only get the gasoline-powered version. This engine is mated to an automatic CVT, and the Corolla is available with either front- or all-wheel drive.
9 Cheapest mid-size car – Camry
MSRP: $28,400
The era of the gasoline-powered Camry is officially over. The 2025 model hits the road and is now only available as a hybrid. While that may be a negative for some, we believe it helps the Camry better focus on its mission of offering high-quality features at a low price.
Performance specifications
Motor |
2.5-litre hybrid inline four-cylinder |
transmission |
CVT |
PS |
232 hp |
Torque |
163 pound-feet |
drive |
FWD or AWD |
0–60 mph |
6.8 seconds |
Top speed |
185km/h |
For the 2025 model year, the Camry will receive two powertrain options. While all models are equipped with a 2.5-liter inline four-cylinder, the all-wheel drive models have an additional motor on the rear axle to generate more power. The front-wheel drive models produce 225 hp.
8 Cheapest subcompact SUV – Corolla Cross
MSRP: $23,860
If you like the Corolla but want the added utility of an SUV, the Corolla Cross is the car for you. It offers the same reliability and low price as the Corolla, but with higher ground clearance and additional space for luggage.
Performance specifications
Motor |
2.0-litre inline four-cylinder naturally aspirated engine |
transmission |
10-speed CVT automatic |
PS |
169 hp |
Torque |
151 pound-feet |
drive |
FWD or AWD |
0–60 mph |
9.2 seconds |
Top speed |
120 miles per hour |
Under the hood, you’ll find the same engine as the regular Corolla and the same automatic CVT transmission. Because the Cross sits a little higher and is a little heavier, the SUV version feels a lot heavier and is noticeably slower when accelerating.
7 Cheapest compact SUV – RAV4
MSRP: $28,675
The RAV4 has been around for decades and has earned a legendary reputation as one of the most affordable adventure vehicles on the market. Its rugged, no-frills approach makes it one of the best-selling vehicles in the United States.
Performance specifications
Motor |
2.5-litre inline four-cylinder naturally aspirated engine |
transmission |
8-speed automatic |
PS |
203 hp |
Torque |
184 pound-feet |
drive |
FWD or AWD |
0–60 mph |
8.3 seconds |
Top speed |
119 miles per hour |
The RAV4 comes in many shapes and sizes, with trim levels tailored to different types of customers. While the cheapest models come with a gasoline-powered inline four-cylinder engine, the Hybrid and Prime models feature electric motors that give the compact SUV more oomph and better efficiency.
6 Cheapest midsize SUV – Venza
MSRP: $35,070
The midsize Venza is one of the less talked about Toyotas today. The Venza focuses on efficiency and a nice list of standard features, but misses the mark when it comes to interior space and functionality. The 2024 model year is the Venza’s last, and soon the Highlander will be the Japanese brand’s cheapest midsize SUV.
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Performance specifications
Motor |
2.5-litre hybrid inline four-cylinder |
transmission |
CVT |
PS |
219 hp |
Torque |
163 pound-feet |
drive |
All-wheel drive |
0–60 mph |
7.6 seconds |
Top speed |
118 miles per hour |
The Venza has been carried over completely unchanged from the 2023 model year and features the same underpowered hybrid drivetrain. One advantage, however, is that it comes with all-wheel drive as standard.
5 Cheapest full-size SUV – Sequoia
MSRP: $61,275
Toyota’s cheapest and only full-size SUV on offer is the Sequoia This full-frame SUV drives and feels like a truck, but doesn’t quite have the interior room to keep up with its competitors. What it does have going for it, however, is a rugged powertrain and the option of some awesome TRD off-road gear.
Performance specifications
Motor |
3.4-liter V6 with twin turbocharger |
transmission |
10-speed automatic |
PS |
437 hp |
Torque |
583 LB-FT |
drive |
RWD or 4WD |
0–60 mph |
5.6 seconds |
Top speed |
107 miles per hour |
Under the hood of the Sequoia is the iForce MAX powertrain, which is optional in the Tundra pickup. It delivers competitive power and is incredibly torquey, meaning it’s quick off the line and can tow up to 9,520 pounds.
4 Cheapest midsize pickup truck – Tacoma
MSRP: $31,500
For the 2024 model year, Toyota has redesigned the Taco truck from the ground up. It finally has what it takes to take on its competitors in the midsize pickup segment. Not only does it look beautiful and burly on the outside, but Toyota has also equipped the Tacoma with all the modern amenities that make its cabin a comfortable place to be.
Performance specifications
Motor |
2.4-litre inline four-cylinder with turbocharger |
transmission |
8-speed automatic or 6-speed manual transmission |
PS |
278 hp |
Torque |
317 LB-FT |
drive |
RWD or 4WD |
0–60 mph |
7 seconds |
Top speed |
106 miles per hour |
All Tacomas come with a 2.4-liter turbocharged four-cylinder, but they’re not all built the same. The cheapest SR models have just 228 horsepower. However, all other gasoline-powered models are also available in a 278-horsepower version. Hybrid models can make up to 326 horsepower. This is also one of the last trucks on the market that comes with a six-speed manual transmission.
3 Cheapest Full-Size Pickup Truck – Tundra
MSRP: $39,965
The Tundra has some pretty tough competition in the full-size pickup truck category. While its interior isn’t as big or as packed as some of its competitors, it offers one of the best driving experiences in its segment. What no one can deny is its capability.
Performance specifications
Motor |
3.4-liter V6 with twin turbocharger |
transmission |
10-speed automatic |
PS |
358 hp |
Torque |
406 LB-FT |
drive |
RWD or 4WD |
0–60 mph |
6.1 seconds |
Top speed |
108 miles per hour |
The Tundra breaks with tradition a bit, featuring a twin-turbo V6 in a segment that’s traditionally dominated by V8 engines. This variance is further enhanced by the fact that you can opt for a hybrid version if you’re willing to spend a little more money. Either way, this pickup offers impressive torque and has one of the smoothest-shifting automatic transmissions on the market. It also has a maximum towing capacity of 12,000 pounds.
2 Cheapest sports car — GR86
MSRP: $29,300
With the help of Subaru, Toyota has created a brilliant machine that is sporty and affordable. The GR86 is the ultimate form of four-wheeled fun without breaking the bank. It follows an ideology of simplicity and focuses above all on providing an enjoyable driving experience.
Performance specifications
Motor |
2.4-litre four-cylinder naturally aspirated engine |
transmission |
6-speed manual transmission or 6-speed automatic |
PS |
228 hp |
Torque |
184 pound-feet |
drive |
Rear-wheel drive |
0–60 mph |
6.1 seconds |
Top speed |
135 miles per hour |
The GR86 proves that you don’t need a lot of power to have fun. It comes standard with a flat-four engine and a six-speed manual transmission. The rear-wheel drive proves that this is a real sports car. There are talks of Toyota ending its partnership with Subaru and equipping the GR86 with a more powerful turbo engine.
1 Cheapest Minivan – Sienna
MSRP: $37,685
Closing out our list is the Toyota Sienna. Minivans are slowly dying out, with only a handful of offerings remaining in 2024. Compared to the few options available, the Sienna stands out as one of the best options, if not the best. Its long list of features, comfortable interior, and class-leading fuel efficiency make it a brilliant choice.
Performance specifications
Motor |
2.5-litre hybrid inline four-cylinder |
transmission |
CVT |
PS |
245 hp |
Torque |
176 pound-feet |
drive |
FWD or AWD |
0–60 mph |
7.5 seconds |
Top speed |
189km/h |
Since its 2021 redesign, the Sienna is only available as a hybrid. It comes standard with front-wheel drive, but can be equipped with all-wheel drive, where an electric motor powers the rear wheels. It may not be the fastest minivan on the market, but it has enough pep to get you where you need to go.