If there were a king of the midsize truck market, the Toyota Tacoma would be that truck. This is one of the few models to continually be part of the midsize pickup market when American models departed for a few years. That Tacoma is one of Toyota’s bestsellers, making it a top choice in the market. The 2023 Toyota Tacoma has been named the Kelley Blue Book Midsize Truck Best Buy of 2023, which adds a stamp of approval to this venerable pickup.
The 2023 Toyota Tacoma is the final model year for the previous generation. Although this generation was overdue for a change and a new version, the 2023 Tacoma retains almost all of its value compared to its original price and value. For this reason, you might still pay nearly as much for a 2023 Tacoma as when it was brand new.
The depreciation percentage for the first year of Tacoma ownership is 4.9 percent, which means that a model that was driven an average of 12,000 miles for the year loses less than five percent of its initial value. After five years, the depreciation rate reaches a total of 28 percent, which means this rate accelerates over time but then slows again.
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The depreciation rates were sourced from CarEdge, while vehicle pricing figures were sourced from Kelley Blue Book, and vehicle information was sourced from Toyota.
2023 Toyota Tacoma Value
Something To Consider
When the depreciation percentage is quoted, the assumption is that the vehicle was purchased during the model year and driven an average of 12,000 miles for that year. What happens when the 2023 Tacoma stays on the lot during the entire model year and is never sold? In this situation, the price should be a little closer to the original value. A 2023 Toyota Tacoma that hasn’t left the lot during the model year should fall into the following price range.
Original MSRP | KBB Fair Purchase Price | |
Tacoma Access Cab | $29,935 — $40,155 | $28,746 — $38,179 |
Tacoma Double Cab | $30,765 — $52,075 | $29,423 — $49,865 |
Using The CarEdge Depreciation Calculator
On the other hand, if a 2023 Toyota Tacoma was sold during the model year and driven an average of 12,000 miles during that year, it should fall into the average depreciation percentage for this truck. This means the price for the one-year-old Tacoma should be.
Original MSRP | KBB Fair Purchase Price | |
Tacoma Access Cab | $29,935 — $40,155 | $28,468 — $37,765 |
Tacoma Double Cab | $30,765 — $52,075 | $29,257 — $49,523 |
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Tacoma Features And Trims
Tons Of Configurations
Toyota offers 34 model configurations for the 2023 Tacoma, making it easy to find a midsize Toyota truck that fits you and gives you what you want to drive and enjoy. This truck has two cab configurations, two bed lengths, and two engine options. You’ll also have the choice between a manual and automatic transmission, and the choice between a 2WD or 4WD model.
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In addition to these options, the Toyota Tacoma comes in six trims: SR, SR5, TRD Sport, TRD Off-Road, Limited, and TRD Pro. Some of the features offered in each trim are:
Tacoma SR
- Six-speaker audio system
- Apple CarPlay, Android Auto, Amazon Alexa
- Three USB ports
- Four adjustable tie-down cleats on the bed
- Front skid plate/limited-slip differential
Tacoma SR5
- Heated side mirrors
- Fog lights
- Leather-wrapped steering wheel
- Remote keyless entry
- Eight-inch touchscreen
TRD Sport
- Sport-tuned suspension
- Power-adjustable driver’s seat
- Wireless smartphone charger
- LED daytime running lights
- Available Panoramic View Monitor
Tacoma TRD Off-Road
- TRD-tuned off-road suspension
- 16-inch machine-finish alloy wheels
- Electronically locking rear differential
- Optional TRD Premium Off-Road Package
- Optional blind-spot monitoring/rear cross-traffic alert
Tacoma Limited
- Leather upholstery
- Heated front seats/power driver’s seat
- Moonroof
- Panoramic View Monitor
- 18-inch chrome-finish alloy wheels
Tacoma TRD Pro
- Black TRD Pro leather upholstery
- TRD-tuned off-road suspension
- Black 16-inch alloy wheels with all-terrain tires
- Multi-Terrain Monitor with Crawl Control
- TRD front skid plate
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Powertrains
Power Two Ways
The 2023 Toyota Tacoma is the final model year before the truck transitioned to strictly four-cylinder engines, turbocharging, and hybrid setups. The two engines of this final model of the previous generation were both naturally aspirated models, which meant they were antiquated for the modern age.
The age and capability limitations of these powertrains didn’t deter many drivers from choosing the Tacoma. This midsize truck sold 234,768 versions in 2023, which made it the top-selling truck in its class by far.
Powertrain Specifications
Engine | 2.7-liter 4-cylinder | 3.5-liter V6 |
Transmission | 6-speed manual, 6-speed automatic | 6-speed manual, 6-speed automatic |
Horsepower | 159 hp | 278 hp |
Torque | 180 lb-ft | 265 lb-ft |
Driveline | RWD, 4WD | RWD, 4WD |
Fuel Mileage | 20/23 mpg, 19/22 mpg | 17/24 mpg, 19/24 mpg |
Towing Capacity | 3,500 pounds | 6,800 pounds |
Payload Capacity | 1,155 pounds | 1,525 pounds |
As you can see from the powertrains, the base system is barely good enough to be worthy of being equipped in a truck. The low towing figure and power level make a four-cylinder 2023 Toyota Tacoma good for light truck activities, while the more robust V6 can handle nearly twice as much towing weight.
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Pros And Cons
Pros
- Rugged off-road capability
- The composite truck bed has movable tie-down cleats and a power outlet
- Top-level V6 can be paired with a six-speed manual transmission
- Tough as nails
- Impressive selection of standard driver safety features
Cons
- Tall step-up height
- Steering can seem slow on pavement
- The base powertrain is a slouch
- Clumsy automatic transmission
- Strange seating position
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Passenger And Cargo Space
The 2023 Toyota Tacoma has two cab options and two bed choices, giving you several great ways to configure the pickup and enjoy the ride. These configuration options make it easy to find the Tacoma that meets your needs, especially when you consider the 34 different possible configurations.
The Access Cab models provide an old-school feeling with small rear-hinged doors that swing open after the front door is opened. The Double Cab is Toyota’s version of a Crew Cab for this midsize pickup truck, giving you four doors that open individually.
Cab Dimensions
Access Cab | Double Cab | |
Front Headroom | 39.7 inches | 39.7 inches |
Front Legroom | 42.9 inches | 42.9 inches |
Rear Headroom | 34.9 inches | 38.3 inches |
Rear Legroom | 24.6 inches | 32.6 inches |
The Double Cab model has a lot more interior space for passengers than the Access Cab version, which makes it much easier to take a couple of rear-seat passengers for a ride in the Double Cab mode of the Toyota Tacoma.
Two Truck Beds
The 2023 Toyota Tacoma can be had with two different truck bed sizes. These bed sizes allow for various options when it comes to the amount of cargo you can carry. The truck bed dimensions for this midsize truck are:
Bed Length | 5 feet | 6 feet |
Bed Height | 19.1 inches | 19.1 inches |
Bed Width | 53.4 inches | 53.4 inches |
Between the Wheel Wells | 41.5 inches | 41.5 inches |
Maximum Payload | 1,155 pounds | 1,525 pounds |
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Favorite Features
Infotainment System
The 2023 Toyota Tacoma has an excellent, user-friendly infotainment system that starts at the base SR model. This infotainment system comes with Apple CarPlay and Android Auto while also giving you the benefits of satellite radio and a built-in Wi-Fi system.
Multi-Terrain Monitor
The Multi-Terrain Monitor is available for the TRD Off-Road and TRD Pro models to give drivers views around the truck while on the trails. This is a great way to have a view of the trails and area around your truck without the need for a spotter while driving on the wilderness trails.
JBL Audio System
It might not sound like much of an upgrade, but the optional JBL premium audio system gives you an incredible sound in the cabin, turning your midsize pickup truck into a virtual concert hall on wheels. This is a great system to take some music with you into the wilderness.
SX Package
The SX Package is only offered for the SR5 trim, giving this step-up model the black exterior features you want to enjoy when you see your truck. The blacked-out look is impressive and provides the dark look that gives the 2023 Toyota Tacoma a more sophisticated styling than without the package.
