The 2023 Toyota Highlander has quickly become a preferred choice among midsize SUV buyers looking for a blend of practicality, style, and reliability. Whether you’re moving up from a compact crossover or downsizing from a full-size SUV, the Highlander offers a compelling package. But before you dive into your car-buying journey, you’re probably wondering: How much does a 2023 Highlander cost?
This article delivers the most accurate, up-to-date pricing information, insights into trim levels and configurations, and everything you need to know about what you can expect within different budget ranges.
2023 Highlander Pricing: A Summary
The 2023 Toyota Highlander starts at $37,220 for the base L trim (MSRP) and can go up to over $54,500 for the top-tier Platinum hybrid trim. Toyota offers seven distinct trims for the 2023 model year, including four hybrid options. Several configurations exist for every trim, depending on engine type (gasoline or hybrid), driver configuration (front-wheel drive or all-wheel drive), and optional packages.
Trim Level Breakdown of 2023 Highlander Prices
Let’s take a closer look at the cost of each trim. Prices listed are Manufacturer’s Suggested Retail Price (MSRP) as published by Toyota, before taxes, dealer charges, and optional accessories.
| Trim | Engine | Drivetrain | Starting MSRP (2023) |
|---|---|---|---|
| L | V6 Gasoline | FWD | $37,220 |
| LE | V6 Gasoline | FWD | $39,770 |
| XLE | V6 Gasoline / Hybrid | FWD / AWD | $43,370 (V6 FWD) |
| Hybrid LE | Hybrid (Base V6 + Electric) | FWD | $45,230 |
| Hybrid XLE | Hybrid | FWD / AWD | $47,370 (FWD) |
| Hybrid Limited | Hybrid | AWD | $52,470 |
| Hybrid Platinum | Hybrid | AWD | $55,510 |
Each trim includes a progressively richer set of features, including enhanced tech amenities, comfort features, driver-assist systems, and design enhancements.
What You Get at Each Price Level
Understanding what each trim offers beyond its sticker price is key to determining which version of the Highlander best meets your needs and budget.
2023 Toyota Highlander L – Starting at $37,220
The L trim is the no-frills entry point into the Highlander lineup. It features a 3.5L V6 gasoline engine producing 295 horsepower, front-wheel drive, and some key standards like adaptive cruise control and automatic emergency braking.
This trim is ideal for buyers who want a capable midsize SUV without spending on luxury features. Optional packages include all-wheel drive, upgraded audio systems, and the Convenience Package featuring keyless entry and push-button start.
2023 Toyota Highlander LE – Starting at $39,770
Moving up to the LE trim adds features like a 7-inch touchscreen, heated front seats, fabric upholstery with accent stitching, and a 4.2-inch multi-information display.
This trim builds on the L’s core appeal, offering more comfort and technology while keeping the affordable starting price intact. It also supports option packages like the Sun and Entertainment Package, adding a panoramic sunroof and rear-seat entertainment system.
2023 Toyota Highlander XLE – Starting at $43,370 (V6 FWD)
The XLE trim introduces a more upscale vibe, featuring standard leather upholstery, an 8-way power-adjustable driver seat, Toyota Smart Key, and available all-wheel drive.
This trim is a smart middle-of-the-road option that adds premium touches while maintaining an affordable cost. Optional Hybrid models are available, starting at $47,370 for FWD versions.
2023 Toyota Highlander Hybrid LE – Starting at $45,230
The Hybrid LE is Toyota’s entry-level hybrid iteration of the Highlander. It’s powered by a 2.5L Hybrid engine system offering an EPA-estimated 36 mpg combined, making it a strong option for fuel-conscious buyers.
This trim includes many upgraded features over the standard LE, such as a moonroof, 12.3-inch touchscreen, and a third-row inductive charging tray. While more expensive upfront, the hybrid’s fuel economy can justify the higher cost over time.
2023 Toyota Highlander Hybrid XLE – Starting at $47,370 (FWD)
The Hybrid XLE is one of the more popular mid-range trims combining comfort, fuel economy, and tech features. It includes leather-trimmed seats, a 12.3-inch touchscreen with Entune™ Premium Audio, JBL sound system, and Android Auto integration.
Optional packages include the Safety Sense 2.5+ system and all-wheel drive. The hybrid XLE also supports the Premium Package and Sun and Entertainment Package.
2023 Toyota Highlander Hybrid Limited – Starting at $52,470
The Hybrid Limited is where the Highlander truly starts to feel like a luxury vehicle. Key features include semi-aniline leather, navigation, a 12.3-inch color head-up display, Toyota Care Connect, and a Bird’s Eye View camera system.
With AWD standard and rear-wheel drive-independent suspension for improved comfort, this trim is ideal for families and luxury buyers who don’t want to compromise on performance or amenities. It also includes advanced driver-assist features like Proactive Driving Assist and predictive pedestrian detection.
2023 Toyota Highlander Hybrid Platinum – Starting at $55,510
The flagship trim is the Hybrid Platinum, offering a premium driving and passenger experience. It includes a 12.3-inch digital instrument cluster, a hands-free liftgate, memory settings for driver, climate, and steering wheel, ventilated and heated front seats, and a digital rearview mirror with streaming video capabilities.
It also comes with 12.3-inch touchscreen and 1200-watt JBL audio system, a panoramic sunroof, and a full complement of Toyota’s latest safety and convenience technologies.
Options That Affect the 2023 Highlander’s Final Price
When calculating your total investment for a 2023 Toyota Highlander, it’s important to understand how optional packages can impact your final price.
Popular Optional Packages
- Comfort and Technology Package – $1,450+
- Sun and Entertainment Package – Includes Panoramic Roof and Rear Seat Entertainment, starting from $2,500+
- Trailer Tow Package – Required for maximum towing (3,500 lbs for HYBRID models), ~$750
- All-Wheel Drive Upgrade (for V6 trims) – $1,400–$1,500
Add-on Technologies
If you choose the premium Tripod camera system, adaptive headlights, hands-free liftgate, or driver memory settings, each of these individual features can raise the final purchase cost by hundreds of dollars.
What Is the Total Cost of Ownership? Understanding Beyond MSRP
While MSRP is the easiest number to focus on, it’s vital to consider the total cost of ownership (TCO) when evaluating any vehicle purchase.
Fuel Efficiency and Fuel Costs
If you opt for a hybrid model, the Hybrid LE delivers up to 36 mpg combined fuel economy based on EPA ratings, compared to the V6’s 22 mpg city/29 highway/25 combined. That’s a significant difference for long-distance drivers or those with long commutes.
Calculating based on an annual 12,000-mile driving plan (avg. 20,000 km), a hybrid saves approximately $1,500 annually in gas costs, depending on local fuel prices.
Maintenance and Reliability
Toyota’s reputation for reliability and durability continues with the 2023 Highlander. Routine maintenance is usually affordable, averaging between $150 and $300 per visit. Scheduled maintenance plans often include generous coverage for hybrid components up to 10 years/150,000 miles.
Insurance Costs
Hybrid trims, especially Platinum, may carry higher insurance premiums due to their value and advanced tech content. On average, a 2023 Highlander insurance in the U.S. ranges between $1,100 and $1,800 per year, depending on driver age, coverage, and location.
Is It Better to Buy, Lease, or Finance a 2023 Highlander?
Your budgeting decisions will also involve whether to buy outright, lease, or finance with a loan. Let’s explore each option in detail.
Buying
Paying in full allows you to avoid interest and retain full ownership. However, it’s uncommon for most buyers to do so. Toyota typically offers solid resale values and retains 56% of its original value after 5 years — above industry average.
Financing
Many 2023 Toyota Highlander buyers choose financing, especially if attractive APR rates are available. Toyota Finance offers rates ranging from near-zero for qualified buyers with strong credit to ~3–7% for average buyers, depending on term and model.
Leasing
If you want lower monthly payments and enjoy driving newer vehicles every few years, a lease may be attractive. Toyota frequently offers competitive lease deals with the 2023 Highlander starting at $419/month for qualified drivers on select hybrid trims ($1,999 due at signing).
Leasing, however, comes with limitations like annual mileage restrictions (typically 10k or 12k miles) and does not build equity.
Where to Buy a 2023 Highlander and Tips to Negotiate a Better Price
Securing the best value for your 2023 Highlander purchase begins by researching local dealership incentives, availability, and comparing offers online.
Start With Comparison Tools
Most car buyers start by using tools like Edmunds, Kelley Blue Book (KBB), or TrueCar to compare trims and see average transaction prices (ATPs). These sites also let you generate pre-negotiated offers at local dealerships.
Negotiation Tips
- Research recent ATPs at your local dealers to find fair pricing
- Know what manufacturer incentives are currently offered
- Don’t finalize a deal until you’ve received at least two competing offers
- Avoid long-term leases with high residual values when you may have uncertain plans
Best Times to Buy
Consider shopping during end-of-year sales (December), holiday sales (Memorial Day, Fourth of July, Thanksgiving), or during local incentive periods. These times often produce the best discounts across the U.S.
Highlander Trims Compared: V6 vs. Hybrid
Toyota offers most trims in both gas and hybrid versions, except for the base L and LE trims, which are only available as gas models.
| Features | 2023 Highlander V6 | 2023 Highlander Hybrid |
|---|---|---|
| Starting Price | $37,220 | $45,230 |
| Total Power | 295 hp | 243 hp |
| MPG (City/Highway/Combined) | 22/29/25 | 36 (combined estimate) |
| Average Fuel Cost (annually) | $2,000 | $1,000 |
| Towing | 5,000 lb | 3,500 lb |
If fuel efficiency is a top priority, and you can afford the higher starting cost, the hybrid trim is a strong choice.
Hassle vs. Value: Determining the Best Value Highlander Trim
While personal preference plays a role, the Hybrid XLE (starting at $47,370) is widely considered the best overall value trim of the 2023 Toyota Highlander lineup. This trim offers a compelling blend of advanced features, fuel efficiency, and luxury appointments at a relatively affordable price.
Why Hybrid XLE Is Worth It
- Combines hybrid efficiency with luxury-grade interior
- Includes 8-way power driver’s seat, heated front seats, leather-wrapped steering
- Apple CarPlay, Android Auto, Alexa support come standard
- Available AWD and panoramic moonroof
- Smart key, push-button start, and 12.3-inch touchscreen
Market Reception and Incentives
Toyota continues to attract buyers with the 2023 Highlander’s modern styling and robust Toyota Safety Sense system. Despite its slightly higher than average starting price among competitors like the Honda Pilot or Hyundai Palisade, experts praise its reliability, resale value, and hybrid fuel economy.
Current Nationwide Incentives
At the time of writing, Toyota offers lease incentives, APR financing offers to qualified buyers, and $1,000 customer rebates for certain military families or recent graduates.
Be sure to check your local Toyota dealer’s website for real-time offers based on your ZIP code.
Conclusion: How Much Will You Pay for a 2023 Highlander?
To restate the core detail clearly: the 2023 Toyota Highlander MSRP starts at $37,220 for the base gas-powered L trim, goes up to $55,510 for the hybrid-powered Platinum trim, and optional accessories and packages can increase the final cost further.
Whether you prioritize fuel economy (choose the hybrid), power and towing capacity (opt for the V6), or premium features like panoramic sunroof and semi-aniline leather (go for Limited or Platinum), there’s a Highlander for every budget and lifestyle.
By taking into account total cost of ownership, financing options, tax incentives, and timing of purchase, you can unlock even better savings in your journey to find the best 2023 Highlander value for you.
So, before you step onto the lot or start an online negotiation, do your homework: research the trims, estimate monthly costs, and use a test drive checklist to compare how each Highlander model aligns with your family’s needs.
What is the starting price of the 2023 Toyota Highlander?
The 2023 Toyota Highlander starts at around $37,000 for the base LE trim. This price includes front-wheel drive (FWD), a generous list of standard features such as a touchscreen infotainment system, Apple CarPlay and Android Auto integration, and Toyota’s full suite of safety features known as Toyota Safety Sense (TSS). However, this base model does not include all-wheel drive or some of the more advanced tech and comfort features that many buyers may want.
If you want a more feature-rich experience, it’s important to budget for a slightly higher trim or additional packages. While the LE trim is a solid entry-level option, consumers looking for more comfort, space, or performance may find the starting model lacking in areas like seating materials, cabin tech, and engine output. For a better overall experience, stepping up to the mid-level XLE or Hybrid LE may be a more appealing starting point for many families.
How much does the 2023 Toyota Highlander Hybrid cost?
The 2023 Toyota Highlander Hybrid starts at approximately $40,000 for the LE trim, which is about $3,000 higher than the standard gas-powered model. This increase in price reflects the benefits associated with the hybrid powertrain, which includes improved fuel economy (typically around 36 mpg in combined driving), a quieter ride, and slightly enhanced low-speed performance due to the hybrid system’s electric motor assistance.
The Hybrid LE still offers many of the same standard features as the conventional LE, such as dual-zone climate control, cloth upholstery, and an eight-inch touchscreen. However, for those looking to upgrade to premium features like leather seating, a panoramic sunroof, or advanced driver-assist systems, stepping into the XLE or Limited Hybrid trims—priced between $44,000 and $51,000—would be necessary. The added fuel efficiency and smoother drive often justify the higher starting price for many buyers.
What are the different trim levels offered for the 2023 Highlander and their prices?
The 2023 Toyota Highlander is available in six trim levels: LE, XLE, XSE, Limited, Platinum, and Hybrid versions of LE, XLE, Limited, and Platinum. Prices for the standard gas versions start at around $37,000 for the LE and go up to nearly $49,000 for the top-of-the-line Platinum trim. Each step up introduces progressively more luxurious features, advanced safety tech, and improved comfort for both drivers and passengers.
For the hybrid models, the LE Hybrid starts at approximately $40,000, and the range climbs to around $52,000 for the Hybrid Platinum. The hybrid lineup mirrors the gas model’s trim structure but offers the benefits of better fuel economy, quieter operation, and slightly different styling cues, particularly in the XSE Hybrid, which is the sportiest version. Choosing the correct trim depends on budget, desired features, and whether performance or fuel efficiency is a priority.
What is included in the 2023 Highlander’s top-tier Platinum trim?
The 2023 Highlander Platinum, the top gas-powered trim, comes with a comprehensive package of premium features, including a 12.3-inch touchscreen with Navigation, a 1,200-watt JBL premium audio system, a digital rearview mirror, and a 360-degree camera system. It also includes upscale interior details like semi-aniline leather seating, heated and cooled front seats, a heated steering wheel, and tri-zone automatic climate control. These upgrades are designed to offer maximum comfort and convenience for families and long-distance drivers.
Safety and driver-assist features are also fully upgraded on the Platinum trim, with enhanced versions of Toyota Safety Sense features like full-speed range adaptive cruise control, lane tracing assist, and advanced pre-collision systems. The Platinum also features a suspension tuned for ride comfort and exclusive 20-inch alloy wheels, giving it both high-performance handling and a luxurious appearance. This high-level trim exemplifies the pinnacle of what the Highlander offers, especially for buyers looking for a premium driving experience.
What additional costs should I expect when purchasing a 2023 Highlander?
Beyond the base Manufacturer’s Suggested Retail Price (MSRP), buyers should consider additional costs such as destination and handling fees, which add about $1,200 to the vehicle’s total price. Local taxes, registration fees, insurance, and dealer charges will also affect the final out-the-door cost. Optional features and packages—such as all-wheel drive (which adds $1,400), premium audio systems, enhanced driver-assist technology, and roof rack additions—can significantly impact the final purchase price.
Financing fees, extended warranties, and maintenance packages may also add to the final cost of ownership. While Toyota offers some of the best reliability in the market, it’s wise to account for these extras when setting a budget. Buyers who opt for lease agreements should also keep in mind initial down payments, monthly lease terms, and potential mileage restrictions. Overall, thoroughly understanding these add-on costs ensures that buyers make a fully informed purchasing decision.
Are there any incentives or rebates available for the 2023 Highlander Hybrid?
Toyota occasionally offers manufacturer incentives and lease deals on the 2023 Highlander Hybrid, especially in regions with stricter emissions regulations or strong interest in eco-friendly vehicles. These incentives can range from a few hundred to a few thousand dollars, although actual eligibility depends on credit score, lease qualifications, and whether the customer is financing through Toyota Financial Services. Buyers should contact their local Toyota dealership and inquire about current offers before finalizing a purchase.
Additionally, the Highlander Hybrid may qualify for federal or state tax credits related to hybrid or plug-in hybrid vehicles. As of now, the standard Highlander Hybrid does not qualify for a large federal credit, but certain states and municipalities may offer local rebates or benefits like carpool lane access. Interested buyers should research current federal and state-level incentives to determine if there are potential savings to be had. These benefits can help reduce the car’s overall cost and improve fuel economy for long-term ownership.
How does the 2023 Highlander’s price compare to its competitors?
The 2023 Toyota Highlander is priced competitively when compared to other midsize three-row SUVUs like the Honda Pilot, Hyundai Palisade, and Ford Explorer. With a starting price around $37,000 for the LE, the Highlander is in line with the Palisade (also starting around $37,000) and slightly higher than the base Pilot (about $35,000). However, the Pilot does not always bundle as many standard tech and safety features as the Highlander does at a similar price point.
In higher trims, the Highlander maintains a strong value proposition, offering refined comfort, a quiet ride, and consistently better resale value than many competitors. While the Palisade may offer slightly more rear legroom and a more modern design, and the Explorer may provide more powerful engine options, the Highlander’s hybrid variant especially remains a standout in the segment due to its fuel efficiency and strong family-oriented interior packaging. This balance helps justify its competitive pricing.