Toledo connected on 56.3 percent of its shots from 3-point range and made it to the free-throw line 22 times.
The Rockets scored 45 points from 3s and free throws alone.
Ball State had 14 turnovers, and Toledo took advantage, scoring 20 of its points off those turnovers.
Junior guard Ryan Weber led the way for the Cardinals with 18 points, shooting 6-8 from behind the 3-point line.
Overall, the Cardinals were out-played, trailing in every statistical category besides turnovers, assists and rebounds.
The loss keeps Ball State (18-10, 9-6 MAC) in first place in the MAC West, but the win for Toledo (17-11, 8-7 MAC) brings them within another game of that lead.
The Cardinals will return to action Feb. 27 at Worthen Arena. Ball State will tip off against Eastern Michigan at 2 p.m.