What Is the Price of a Toyota Corolla? The starting price of the 2022 Toyota Corolla is $20,075, which is approximately typical for the compact car segment. The top-of-the-line Corolla XSE Apex Edition costs $28,360.
In This Article...
What should I expect to pay for a 2020 Corolla?
The base Manufacturer’s Suggested Retail Price (MSRP) for the 2020 Toyota Corolla is $20,430 for the L variant (plus a $930 destination fee). The 2019 Corolla’s price hikes range from $815 to $1,300 for comparably equipped models.
Is buying a pre-owned Corolla worthwhile?
The Toyota Corolla will run for 300,000 miles without having any costly overhauls as long as you provide regular servicing and stay on top of maintenance. Accordingly, a new Corolla has a lifespan of roughly ten years, making 2012 and later vehicles a better option when looking to buy used.
If you’re considering an older model, owners of the 2004 model have driven their Corollas 300,000 miles so far, and they anticipate going up to 500,000 miles before needing to replace the engine and transmission.
Corollas are everyday drivers, so it’s critical to adhere to their recommended maintenance schedule if you want yours to join the 300k club as well.
The following are some Toyota Corolla necessities:
- Tire rotation and oil changes every 5,000 miles.
- Inspection and re-filling of the cooling system every 15,000 kilometers. examination of the brakes (lookout for signs of wear.) examining the exhaust and steering systems.
- The air filter should be changed every 30,000 miles. Look for leaks or corrosion in the fuel system.
- Replace the transmission fluid and inspect the transmission every 60,000 miles. Verify the driver’s seatbelt.
- Replace the spark plugs and change the coolant every 100,000 miles.
Repair Pal estimates that your annual maintenance and repair expenses will be around $362. Of course, this figure can change based on the age, mileage, and area in which you drive. The Toyota Corolla is the least expensive Toyota to maintain in its segment, surpassing rivals like the Honda Accord and Toyota Prius, which are the Corolla’s primary internal rivals on the used market.
How much should I spend on a 2021 Corolla?
The starting MSRP for the Toyota Corolla base sedan is $20,025, while the starting MSRP for the Corolla base hatchback is $20,665. Both numbers are a little higher than typical for a tiny automobile. For the Corolla hatchback and sedan, the top-of-the-line XSE model starts at $23,615 and $25,925, respectively.
A Toyota Corolla will depreciate 21% after 5 years and have a 5 year resale value of $19,177.
Surprisingly, the Toyota Corolla outperforms its larger relative, the Camry, when it comes to maintaining value. The Corolla performs in the top 20 in years 5 and 7, while the Camry performs in the middle of the pack in terms of value retention. This demonstrates that the Corolla offers fantastic value, whether it is new or used, and that it is a great inexpensive car for those on a budget that will be light on your wallet or purse, regardless of how old it is.
The anticipated depreciation over the following ten years is shown in the figure below. These outcomes apply to cars that travel 12,000 miles annually on average and are in good condition. Additionally, it counts on a new-car selling price of $24,275. Enter the purchase price, anticipated length of ownership, and yearly mileage estimate. We can estimate the Toyota Corolla’s projected resale value using our depreciation calculator.
Share
What Toyota can I get at the lowest price?
Previously, as AutoGuide said, the Yaris sedan was Toyota’s most affordable new vehicle. Toyota, however, said that starting with the 2021 model, the whole Yaris range would be retired. The ever-popular Corolla is now Toyota’s least expensive vehicle, with prices for the 2022 model starting at $20,075 as a result of this adjustment.
The Toyota Corolla has been one of the best-selling cars in the world for 12 generations, according to Kelley Blue Book. It’s not just a budget-friendly option, but also a secure one. The Corolla also has tremendous resale value and is simple to maintain. The Corolla is available in a variety of configurations to best meet your needs. Just keep in mind that the 2022 Corolla L car is the least expensive version and that pricing for these various choices vary.
Excellent performance and safety features come standard on the Corolla L. A 1.8-liter four-cylinder engine with 139 horsepower and 126 lb-ft of torque powers the vehicle. The vehicle boasts a seven-inch media touchscreen that supports Android Auto and Apple CarPlay inside, LED headlights and accent lighting outside, a built-in backup camera, and other features. 10 airbags and Toyota Safety Sense 2.0, which provides a variety of driver assistance functions like lane departure alert, automatic high lights, and pre-collision pedestrian recognition, are among the other safety features listed by Toyota.
What issues are there with the Toyota Corolla?
There have been grievances regarding excessive oil usage in many Toyota vehicles from the beginning of 2000.
Owners of several model years of the Toyota Corolla also complain about excessive engine oil use.
Toyota created the Warranty Enhancement Program ZE7 to remedy select vehicles with the 2AZ engine’s high oil consumption.
Possible Causes and Solutions
To prevent future harm to the engine of your Corolla, you can repair a damaged oil piston or piston ring.
Here are some recommendations for potential upkeep and fixes:
1. Verify the oil levels:
It’s essential to check the oil level in your engine to avoid engine damage. In order to keep the engine lubricated at all times, it is advisable to regularly check the oil levels.
You may check the oil level using the engine oil indicator light, but it’s also a good idea to check it manually. Normally, the “Check Oil” light won’t turn on until there is little to no oil in the engine.
If the oil level falls that low, it could be harmful to the engine and even cause damage.
2. Replace the piston rings and oil pistons:
Defective oil pistons and rings may be a significant contributing factor to your Corolla’s high engine oil consumption.
It frequently comes with additional symptoms, such as:
- Excessive Exhaust Smoke: A faulty piston may be the cause of your car’s thick, dark gray and blue exhaust smoke. A damaged piston may allow engine oil to flow into the combustion chamber, producing an excessive amount of thick smoke.
- sluggish acceleration
In addition to using too much oil, a damaged piston results in less combustion in the engine, which can diminish power. In order to reach the specified speed, you must accelerate more.
inadequate vehicle performance
When the piston is completely destroyed and the engine loses all of its power, this is a severe situation. Acceleration is not possible in this circumstance, and performance will be very subpar overall. It is advised you fix your piston before it reaches this point.
The majority of the expense of repairing a piston ring is spent on labor costs. While the labor expenses range from $500 to $1,500, the piston costs between $30 and $150.
The usual hourly rate for a mechanic is between $80 and $200, and it takes time to disassemble the engine, repair the piston, and reassemble the engine.
How durable are Toyota Corollas?
Drivers who adhere to the suggested maintenance schedule may expect their new Toyota Corolla to last up to 10 years or 300,000 miles or more, whether they own it outright or are leasing one. Learn from the service professionals at Beechmont Toyota how to maximize the use of your inexpensive vehicle!
Which Toyota Corolla model year is the best?
Every used Toyota Corolla produced between 2014 and 2019 comes highly recommended by Consumer Reports. With the exception of the 2019 Toyota Corolla models, which nonetheless achieved a high score of 4/5, all obtained reliability ratings of 5/5. The overall owner satisfaction score was 3/5.
The Corolla underwent yet another redesign in 2014, which was a significant year for the vehicle. Additionally, it achieved 32 mpg overall with the aid of the continuously variable transmission (CVT).
There are simple controls inside, and some models come with a touchscreen infotainment system. The LE and higher models come standard with automatic temperature control. Automatic emergency braking and forward collision warning were included as standard safety features in 2017 vehicles.
Are Corolla vehicles dependable?
The Toyota Corolla has a 4.5 out of 5.0 reliability rating, which places it first among 36 compact automobiles. Its great ownership costs are reflected in the $362 average yearly repair cost. Major problems are rare for the Corolla because to the low severity of repairs and average frequency of those problems.
Is the Corolla suitable for long trips?
There are occasions when you need to travel as swiftly and economically as you can. When you’re on a tight budget, avoiding rush hour, heavy braking, rapid starts, and idling will only get you so far. Think about choosing a car that is ecologically friendly and economical with gas. The eco-friendly Toyota Corolla Hybrid vehicle has outstanding mileage ratings of 53 city and 52 highway miles per gallon. That translates to almost 700 miles between fill-ups! The Toyota Corolla Hybrid is a wonderful option all around because it is safe and comfortable in addition to getting excellent fuel efficiency.
Must I purchase a used Toyota?
If dependability is your major concern, you probably don’t want to purchase a too old vehicle. Even if it’s a well-kept, low-mileage automobile like a Toyota or a Honda, the older a car gets, the less reliable it’s likely to be. The vehicle’s reliability does depend on how many miles have been driven on it.
What issues does the Toyota Corolla from 2021 have?
The check engine light can come on for a variety of reasons, but faults with the evaporative emission (EVAP) system are one of the more frequent ones for the Toyota Corolla.
Drivers may find this to be a very frustrating condition because EVAP issues are sometimes challenging for experts to identify. Two of the most typical problems, according to RepairPal, are malfunctioning charcoal canisters and loose or damaged gas caps. Repairing this issue could cost between $88 and $111.