Toyota Corolla Ownership Costs

Toyota Corolla is one of America’s best-loved cars. And with good reason. The Corolla offers great value for a modest price. But, of course, competition is stiff. When you’re the best, your competitors strive all the harder to knock you off your pedestal. Some car companies seem willing to rest on their laurels. But not Toyota. We continue to innovate and compete. The best way to do that it to keep doing what we do best: Offer great value at a great price.

But what determines value? Is it a simple function of initial cost? Or is there more to the picture? We’re here to assure you there’s more to a car’s true value than meets the eye. Take projected five-year cost of ownership. When a vehicle has been on the market for five or more years, it’s possible to ascertain certain factors that affect the true costs of ownership. Factors such as reliability, projected resale value, depreciation, insurance, gas mileage and other variables.

Here’s a telling fact: According to independent sources, up to 90% of Toyota Corolla vehicles sold in the past ten years are still on the road. Ninety percent. That alone should tell you a lot about Toyota’s legendary reliability and durability.

We’ve also made it easy for you to see—in black, white, and red—exactly how a 2015 Toyota Corolla SE compares to the vehicles in its class that are its closest competitors. Take the Toyota Corolla SE versus the Ford Focus SE, for example. Despite nearly identical MSRPs, the Ford will actually cost you far more to own and operate in the long run. According to our estimates; more than $2,800 more. So, despite initial appearances, the Toyota Corolla SE is clearly the better value. Regardless of any other differences in these comparable vehicles, the Toyota will simply cost you less in the long run.

Toyota Corolla SE also comes out ahead in projected five-year cost of ownership comparisons against models such as Honda Civic LX, Hyundai Elantra SE, and Chevy Cruz LS.