Toyota Cars Under $40,000

Summary

These cars under $40,000 boast incredible EPA-estimated mileage ratings, interior specs and exterior style while staying on budget. Find your perfect car today with many models to choose from and configurations that have something for everyone — all under $40,000 MSRP.

  • Enjoy peace of mind with the latest safety technology standard on these models that won’t break the bank.
  • Build a car that ticks all the boxes without going over budget with these cars under $40,000.
  • Get the features you want and need without spending extra on accessories with plenty of standard features that are sure to please.
  • Save even more on gas with available hybrid models.
  • Stay entertained with all the latest multimedia technology in these cars under $40,000.
  • Enjoy multiple models to choose from so you can compare and find your perfect car.

Toyota Cars Under $40,000 Highlights

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2023
4Runner
$39,555
16/19

4Runner’s legendary reliability continues with power from its 4.0-liter V6 engine. With up to 270 hp and 278 lb.-ft. of torque, you have all that you need to take you from adventure to adventure.

AWD Available
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2023
Camry
$26,220
28/39

Available All-Wheel Drive (AWD) performance gives you peace of mind for days that are less than perfect. When sensing slippage at the front wheels, Camry AWD can send up to 50% of the torque to the rear wheels for more grip in gravel, rain or snow.

Hybrid
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2023
Camry Hybrid
$28,355
51/53

Camry Hybrid’s powerful shape and captivating design will announce your arrival with authority. Sweeping curves and chiseled surfaces complement its muscular build, leaving us with a unique silhouette that redefines the look of efficiency.

Hybrid Available
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2023
Corolla
$21,550
32/41

Corolla ups its performance numbers with 169 horsepower and 151-lb.-ft. of torque and gets up to speed from 0-60 mph in under 9 seconds. Its efficient, available 2.0L Dynamic Force Engine can be paired with an available Dynamic-Shift CVT, which combines the immediate response of a traditional fixed first gear with the efficiency of a Continuously Variable Transmission (CVT).

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2023
Corolla Hatchback
$23,005
32/41

Corolla Hatchback gives you the control you crave. With a traditional first gear and ten selectable ratios, Corolla Hatchback’s paddle shifters let you take command and set your own pace.

Hybrid
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2023
Corolla Hybrid
$22,800
53/46

The power of an intelligent grip. Corolla Hybrid’s Electronic On-Demand All-Wheel Drive (AWD) provides all-weather capability and confident on-road driving dynamics. The system uses a dedicated electric drive motor to automatically supply power to the rear wheels for instant improvement in traction.

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2023
GR86
$28,400
20/27

Take control as you accelerate out of corners. Whether rowing through the gears of the 6-speed manual with short-throw shifter or triggering the paddle shifters of the 6-speed auto with Dynamic Rev Management, GR86 will be ready for your next move.

Hybrid Available
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2023
Highlander
$36,420
22/29

A new 2.4L turbo 4-cylinder engine provides 265 horsepower with an enhanced 310 lb.-ft. of torque. Along with up to an EPA-estimated 25 combined mpg rating, Highlander is ready to take on your adventures.

Fuel Cell Electric Vehicle
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2023
Mirai
$49,500
76/71

This Toyota car is the future of alternative fuel vehicles. Since this Toyota car is powered entirely by a hydrogen fuel cell, water is the only thing this eco-sensitive car emits.

Hybrid Available
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2023
RAV4
$27,975
27/35

Enjoy a smooth ride that delivers driving confidence. RAV4’s multi-link rear suspension helps enhance handling and control by working with its natural body rigidity in order to keep traction steady.

Hybrid
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2023
RAV4 Hybrid
$30,725
41/38

Take your adventures as far as you can go. RAV4 Hybrid’s advanced engine produces an ample 219 combined net horsepower for impressive acceleration all the way to highway speeds. And with an EPA-estimated rating of 41 mpg city, you can take the scenic route.

Hybrid
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2023
Sienna
$36,135
36/36

Whether you’re driving around the city during the day or taking a weekend road trip, Sienna’s class-leading EPA-estimated 36 combined mpg helps keep you going. And with 3500 lbs. of towing capacity, you can bring more with you on your next adventure.

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2023
Tacoma
$27,750
18/22

Blaze your own trail and be seen in the Toyota Tacoma with available part-time 4WD. Learn how standard advanced active safety features compliment Tacoma’s legendary off-road capability to tackle any adventure. 

Hybrid Available
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2023
Tundra
$37,865
18/24

The Toyota Tundra with available part-time 4WD is ready for action. Learn more about the power of its standard iFORCE and available i-FORCE MAX Hybrid powertrain, as well as its impressive towing capacity of over 12,000 lbs. on certain models today. 

Hybrid
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2023
Venza
$34,120
40/37

Venza’s advanced hybrid powertrain and specially tuned suspension offer smooth acceleration and balanced turns for a refined drive every time you get behind the wheel. And Venza features four distinct drive modes to match your mood: EV, Eco, Sport and Normal.

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2022
4Runner
$38,105
16/19

This under-$40,000 base model Toyota is built for action. Turn heads with standard Hill Start Assist Control (HAC) and available Downhill Assist Control.

AWD Available
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2022
Camry
$25,845
28/39

Learn about the impressive choices for this Toyota under $40,000. This smooth ride elevates your driving experience and is loaded with extras.

Hybrid
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2022
Camry Hybrid
$27,980
51/53

Make driving pure excitement with this Toyota under $40,000 MSRP while also saving at the pump.

Hybrid Available
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2022
Corolla
$20,425
31/40

The sporty design of this under $40,000 Toyota has been tested for optimal performance. Learn more about the available Sport driving mode.

First-Ever
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2022
Corolla Cross
$22,445
31/33

From standard Toyota Safety Sense™ 2.0 (TSS 2.0), to its available 8-in. touchscreen display and sporty interior, this Toyota car keeps your commute fun.

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2022
Corolla Hatchback
$21,165
32/41

Enjoy tech and style with this Toyota under $40,000. Comes with the standard Smart Key System and available dual-zone automatic climate control.

Hybrid
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2022
Corolla Hybrid
$24,050
53/52

Explore the hybrid version of this under $40,000 Toyota. Schedule a test drive to get to know its smart interior.

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2022
GR86
$27,700
20/27

Enjoy a thrilling driving experience. Backed with Toyota's proven technology, this Toyota under $40,000 features Hill Start Assist Control (HAC) and Smart Stop Technology.

Hybrid Available
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2022
Highlander
$35,855
21/29

A premium interior offers space for up to eight in this Toyota. Learn about three-zone automatic climate control and an Advanced Airbag System.

Hybrid
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2022
Highlander Hybrid
$39,555
36/35

Expect efficiency with a 2.5-liter L4HV engine in this base trim car under $40,000. Explore available Driver Easy Speak and Android Auto™ compatibility.

Hybrid
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2022
Prius
$25,075
58/53

There is room to stretch with the smart seat design in this Toyota. Explore the modern interior and additional features like enhanced parking support.

Plug-in Hybrid
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2022
Prius Prime
$28,770
54/133

Schedule a test drive today for this car that has an MSRP of less than $40,000. Explore Toyota innovations like its aerodynamic design and available Predictive Efficient Drive, both of which help boost fuel efficiency.

Hybrid Available
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2022
RAV4
$26,975
27/35

A variety of driving modes, like NORMAL, SPORT, and ECO, let you tailor your drive. Add quality to every adventure with this new Toyota for under $40,000.

Hybrid
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2022
RAV4 Hybrid
$29,575
41/38

Power meets efficiency with this Toyota. Electronic All-Wheel Drive brings sportiness to every drive. Explore the spacious interior and loads of cargo room.

Hybrid
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2022
Sienna
$35,285
36/36

Toyota is a perfect choice for family fun in this base model under $40,000. Toyota's one and only Swagger Wagon boasts a bold look.

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2022
Tacoma
$27,150
18/22

Seek out tougher roads with this new base trim Toyota under $40,000. Explore the off-road capability and towing options for this truck that is trail-ready.

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2022
Tundra
$35,950
18/24

Every one of these legendary V8-engine All-Wheel Drive trucks are assembled in San Antonio, Texas with the classic, durable full-size truck lover in mind.

Hybrid
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2022
Venza
$33,240
40/37

Drive this car under $40,000 and experience its EPA-estimated 40/37/39 (city/hwy/comb) and Toyota Safety Sense 2.0 (TSS 2.0).