More multi-purpose than a toaster and smaller than an oven, toaster ovens typically get a thumbs-up from those who own them, despite some major and minor drawbacks. With models ranging from $40 to $500 for a conventional toaster oven and up to $2,000 for a convection model, toaster ovens come with different features and different levels of performance.

Consider the features, your own cooking style and your budget as you weigh the benefits and weaknesses of a toaster oven versus a regular oven or a simple toaster.