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Toyota and Honda are longtime rivals, with many of their models vying for the top spots in the sales charts. Also, both Japanese automotive brands have a much-deserved reputation for producing high-quality cars at affordable prices. However, which are cheaper: Toyota or Honda cars?

Toyota or Honda: Which car brand has the cheapest models?

You can find affordable models from both Toyota and Honda. For Toyota, the cheapest new model is the 2023 Corolla compact sedan ($21,550 MSRP). For Honda, it’s the 2023 HR-V subcompact crossover SUV ($23,800 MSRP).

Here are the 10 most affordable new models for Toyota and Honda:

1. 2023 Toyota Corolla Sedan: $21,550 MSRP1. 2023 Honda HR-V: $23,800 MSRP
2. 2023 Toyota Corolla Hatchback: $23,005 MSRP2. 2023 Honda Civic Sedan: $25,050 MSRP
3. 2023 Toyota Corolla Cross: $23,060 MSRP3. 2023 Honda Civic Hatchback: $25,850 MSRP
4. 2022 Toyota C-HR: $24,280 MSRP4. 2023 Honda Accord: $27,295 MSRP
5. 2023 Toyota Camry: $26,220 MSRP5. 2023 Honda Civic Si Sedan: $28,500 MSRP
6. 2023 Toyota Prius: $27,450 MSRP6. 2023 Honda CR-V: $31,610 MSRP
7. 2023 Toyota Tacoma: $27,750 MSRP7. 2023 Honda Odyssey: $37,490 MSRP
8. 2023 Toyota RAV4: $27,975 MSRP8. 2023 Honda Ridgeline: $38,800 MSRP
9. 2023 Toyota GR86: $28,400 MSRP9. 2023 Honda Pilot: $39,150 MSRP
10. 2023 Toyota Prius Prime: $32,350 MSRP10. 2023 Honda Passport: $41,100 MSRP

In addition to offering the cheapest entry-level model with the Corolla Sedan, Toyota offers more new models that cost less than $30,000. It has 10, compared to five for Honda. Additionally, if we counted the many Toyota hybrid variants of the brand’s gas-powered models, the list of affordable cars would be even larger. 

Affordability comparison for specific Toyota and Honda models

Let’s also break down this affordability comparison according to specific Toyota and Honda model types. For example, in the compact SUV segment, the 2023 Toyota RAV4 starts at $27,575 MSRP, compared to $31,610 MSRP for the 2023 Honda CR-V.

Here’s a price comparison for each Toyota and Honda model type:

Model TypeToyotaHonda
Compact sedan2023 Toyota Corolla: $21,550 MSRP2023 Honda Civic: $25,050 MSRP
Subcompact SUV2023 Toyota Corolla Cross: $23,060 MSRP2023 Honda HR-V: $23,800 MSRP
Midsize sedan2023 Toyota Camry: $26,220 MSRP2023 Honda Accord: $27,295 MSRP
Midsize SUV2023 Toyota Highlander: $37,420 MSRP2023 Honda Pilot: $39,150 MSRP
Midsize truck2023 Toyota Tacoma: $27,750 MSRP2023 Honda Ridgeline: $38,800 MSRP
Minivan2023 Toyota Sienna: $36,135 MSRP2023 Honda Odyssey: $37,490 MSRP

As you can see, all Toyota cars are cheaper than the Honda models for each respective vehicle class. The Toyota models have a lower starting price than their Honda rivals, whether it’s the Corolla (vs. Civic), Corolla Cross (vs. HR-V), Camry (vs. Accord), Highlander (vs. Pilot), Tacoma (vs. Ridgeline), or Sienna (vs. Odyssey).

Other differences between Toyota and Honda

Along with Toyota being cheaper than Honda on average, there are some other notable differences between the Japanese car brands. Part of the reason why Honda cars are more expensive than ones from Toyota is that they typically have a more upscale design. This is especially true for the cabins, which tend to have a more premium look and feel.

Additionally, Honda has a slight advantage in engine technology, with its vehicles usually having more powerful engines than the ones found in Toyotas.

However, Toyota offers a greater variety of model types. For example, unlike Honda, Toyota offers a full-size truck (Tundra) and a full-size SUV (Sequoia). Also, there are the Toyota GR Supra and GR86 sports cars. While Honda offers a “hot hatch” variant of the Civic Hatchback with the Type R model, it doesn’t currently offer a pure sports car in the United States. 

Furthermore, Toyota has more hybrid models than Honda. Also, unlike Honda, Toyota offers plug-in hybrid vehicles with the RAV4 Prime and Prius Prime. Still, both automakers are late to the party regarding all-electric models, with Toyota only offering the underwhelming bZ4X and Honda announcing the upcoming Prologue.

So, in terms of affordability, Toyota has the advantage. Its cars are cheaper than ones from Honda. If you’re a budget-minded car shopper deciding between the two Japanese automotive brands, you’ll likely save money if you choose a Toyota model.