Toyota Corolla Depreciation
A Toyota Corolla will depreciate 28% after 5 years and have a 5 year resale value of $18,067.
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 $25,110 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.
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Toyota Corolla Depreciation
| Years Old | Depreciation | Residual Value | Resale Value | Mileage | Resale Year |
|---|---|---|---|---|---|
| 1 | $2,453 | 90.23% | $22,657 | 12,000 | 2025 |
| 2 | $3,613 | 85.61% | $21,497 | 24,000 | 2026 |
| 3 | $5,072 | 79.80% | $20,038 | 36,000 | 2027 |
| 4 | $6,170 | 75.43% | $18,940 | 48,000 | 2028 |
| 5 | $7,043 | 71.95% | $18,067 | 60,000 | 2029 |
| 6 | $8,402 | 66.54% | $16,708 | 72,000 | 2030 |
| 7 | $9,454 | 62.35% | $15,656 | 84,000 | 2031 |
| 8 | $10,112 | 59.73% | $14,998 | 96,000 | 2032 |
| 9 | $10,966 | 56.33% | $14,144 | 108,000 | 2033 |
| 10 | $12,746 | 49.24% | $12,364 | 120,000 | 2034 |
Toyota Corolla Depreciation
| Years Old | Depreciation | Residual Value | Resale Value |
|---|---|---|---|
| 1 | $2,453 | 90.23% | $22,657 |
| 2 | $3,613 | 85.61% | $21,497 |
| 3 | $5,072 | 79.80% | $20,038 |
| 4 | $6,170 | 75.43% | $18,940 |
| 5 | $7,043 | 71.95% | $18,067 |
| 6 | $8,402 | 66.54% | $16,708 |
| 7 | $9,454 | 62.35% | $15,656 |
| 8 | $10,112 | 59.73% | $14,998 |
| 9 | $10,966 | 56.33% | $14,144 |
| 10 | $12,746 | 49.24% | $12,364 |
Buying a Toyota Corolla New vs Used
If you purchase a used Toyota Corolla that is 2 years old, then you could save $3,613 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 $3,430. 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 $2,547 per year. This adds up to around $12,735 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 2023 Toyota Corolla is our top pick for the best model year value for the Corolla. With the 2023, you would only pay, on average, 90% of the price as new, with 92% of the vehicle's useful life remaining. The 2022 and 2021 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.
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Toyota Corolla Historical Depreciation
| Year | New Price | Current Price | Maintenance | $ Decline | % Decline | % Paid | Value Rating |
|---|---|---|---|---|---|---|---|
| 2024 | $25,110 | $25,110 | $174 | $0 | 0% | 100% | |
| 2023 | $25,075 | $22,626 | $204 | $2,484 | 9.89% | 90.23% | Best |
| 2022 | $24,275 | $20,781 | $250 | $1,845 | 8.15% | 85.61% | Better |
| 2021 | $24,214 | $19,323 | $326 | $1,458 | 7.02% | 79.8% | Better |
| 2020 | $23,804 | $17,955 | $388 | $1,368 | 7.08% | 75.43% | Good |
| 2019 | $21,346 | $15,359 | $486 | $2,596 | 14.46% | 71.95% | Good |
| 2018 | $21,252 | $14,142 | $562 | $1,217 | 7.92% | 66.54% | |
| 2017 | $21,158 | $13,193 | $591 | $949 | 6.71% | 62.35% | |
| 2016 | $21,534 | $12,863 | $611 | $330 | 2.5% | 59.73% | |
| 2015 | $21,370 | $12,038 | $637 | $825 | 6.41% | 56.33% | |
| 2014 | $19,856 | $9,778 | $676 | $2,260 | 18.77% | 49.24% | |
| 2013 | $19,158 | $9,559 | $736 | $219 | 2.24% | 49.9% | |
| 2012 | $17,577 | $8,684 | $794 | $875 | 9.15% | 49.41% |
| Year | Price | % Paid | Value Rank |
|---|---|---|---|
| 2024 | $25,110 | 100% | |
| 2023 | $22,626 | 90.23% | Best |
| 2022 | $20,781 | 85.61% | Better |
| 2021 | $19,323 | 79.8% | Better |
| 2020 | $17,955 | 75.43% | Good |
| 2019 | $15,359 | 71.95% | Good |
| 2018 | $14,142 | 66.54% | |
| 2017 | $13,193 | 62.35% | |
| 2016 | $12,863 | 59.73% | |
| 2015 | $12,038 | 56.33% | |
| 2014 | $9,778 | 49.24% | |
| 2013 | $9,559 | 49.9% | |
| 2012 | $8,684 | 49.41% |
Toyota Corolla 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.
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:
