Toyota Corolla Depreciation

A Toyota Corolla will depreciate 21% after 5 years and have a 5 year resale value of $19,177.

The Toyota Corolla does very well in holding its value, and surprisingly, beats out its bigger cousin, the Camry, by quite a bit. Whereas the Camry falls in the middle of the pack in terms of value retention, the Corolla scores in the top 20 in years 5 and 7. This shows that the Corolla provides a great value, whether new or used, and for those on a budget, it is a great economical car which will be light on your wallet or purse, no matter how old it is.

The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $24,275 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the Toyota Corolla.

Toyota Corolla Depreciation Calculator

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Toyota Corolla Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $1,406 94.21% $22,869 12,000 2022
2 $3,641 85.00% $20,634 24,000 2023
3 $4,127 83.00% $20,148 36,000 2024
4 $4,612 81.00% $19,663 48,000 2025
5 $5,098 79.00% $19,177 60,000 2026
6 $5,583 77.00% $18,692 72,000 2027
7 $6,069 75.00% $18,206 84,000 2028
8 $6,554 73.00% $17,721 96,000 2029
9 $7,040 71.00% $17,235 108,000 2030
10 $7,525 69.00% $16,750 120,000 2031

Toyota Corolla Depreciation

Years Old Depreciation Residual Value Resale Value
1 $1,406 94.21% $22,869
2 $3,641 85.00% $20,634
3 $4,127 83.00% $20,148
4 $4,612 81.00% $19,663
5 $5,098 79.00% $19,177
6 $5,583 77.00% $18,692
7 $6,069 75.00% $18,206
8 $6,554 73.00% $17,721
9 $7,040 71.00% $17,235
10 $7,525 69.00% $16,750

Buying a Toyota Corolla New vs Used

If you purchase a used Toyota Corolla that is 2 years old, then you could save $3,641 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $1,457. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Corolla models become available.

What About Toyota Corolla Insurance Costs?

The average cost to insure a Toyota Corolla is about $1,927 per year. This adds up to around $9,635 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a Toyota Corolla. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure

The Best Model Years to Buy a Toyota Corolla

The 2020 Toyota Corolla is our top pick for the best model year value for the Corolla. With the 2020, you would only pay, on average, 85% of the price as new, with 83% of the vehicle's useful life remaining. The 2021 and 2019 model years are also attractive years for the Corolla, and provide a relatively good value. Our rankings consider multiple factors, including the Corolla's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the Toyota Corolla models.

Toyota Corolla Historical Depreciation

Year New Price Current Price Maintenance $ Decline % Decline % Paid Value Rating
2022 $24,275 $24,275 $152 $0 0% 100%
2021 $24,214 $22,988 $175 $1,287 5.3% 94.21% Better
2020 $21,761 $18,708 $212 $4,280 18.62% 85% Best
2019 $20,484 $17,002 $271 $1,706 9.12% 83% Better
2018 $19,344 $15,669 $320 $1,333 7.84% 81% Good
2017 $19,290 $15,239 $397 $430 2.74% 79% Good
2016 $19,013 $14,640 $553 $599 3.93% 77%
2015 $18,867 $14,150 $615 $490 3.35% 75%
2014 $18,425 $13,450 $673 $700 4.95% 73%
2013 $17,091 $12,135 $759 $1,315 9.78% 71%
2012 $16,908 $11,667 $770 $468 3.86% 69%
2011 $16,691 $11,589 $861 $78 0.67% 64.27%
2010 $17,121 $10,202 $995 $1,387 11.97% 53.78%
Year Price % Paid Value Rank
2022 $24,275 100%
2021 $22,988 94.21% Better
2020 $18,708 85% Best
2019 $17,002 83% Better
2018 $15,669 81% Good
2017 $15,239 79% Good
2016 $14,640 77%
2015 $14,150 75%
2014 $13,450 73%
2013 $12,135 71%
2012 $11,667 69%
2011 $11,589 64.27%
2010 $10,202 53.78%

Toyota Corolla Depreciation Rankings

Depreciation Rankings

We've ranked over 200 models from best to worst for Depreciation. See where the Toyota Corolla ranks for Depreciation compared to other vehicles. Also check out how the Corolla stacks up in our rankings for Maintenance, Insurance and Overall Costs.

Depreciation Rankings

Other Toyota Corolla Costs of Ownership

Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major Toyota Corolla costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses: