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...
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
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.
Is the Toyota Corolla an affordable car?
- You can upgrade to a much superior Toyota Corolla LE or SE for an additional $740.
- The Corolla hatchback would be our choice to help the tiny sedan become more usable.
Any way you look at it, the Toyota Corolla is a very affordable new automobile. It can be challenging to decide as there are several trims and special editions available. But suppose you want to pay as little as possible for a 2022 Toyota Corolla. Is the Toyota Corolla L at the bottom of the heap worth it? Or are you squandering money by not opting for a fancier model of one of Toyota’s more affordable vehicles?
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!
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.
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.
Corolla has a 20-year lifespan.
How long do Toyota Corollas last? may be on your mind if you’re thinking about buying one. The Toyota Corolla has a life expectancy of up to 10 years or 300,000 miles with routine maintenance and service. You might own your new Corolla for well over a decade if you take good care of it.
Which Toyota model is the best to purchase?
The Top 7 Toyota Vehicles, Per US News & World Report
- Avalon (2017) Any family will be satisfied by the Avalon’s room, efficiency, and power.
- Camry (2018)
- Highlander (2017)
- Prius (2017)
- 86 (2017)
- Sienna (2017)
- Prime Prius (2017)
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.
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.
Why is the Corolla the most popular vehicle?
Because of the reputation it has established over the years, they sell for a good reason. The Toyota Corolla is renowned for its dependability, affordability, and minimal maintenance costs.