Toyota Corolla Depreciation

A Toyota Corolla will depreciate 40% after 5 years and have a 5 year resale value of $12,996.

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 fall in the middle of the pack in terms of value retention, the Corolla scores in the top 20 in year 5 and 5th place by year 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 13,500 miles per year. It also assumes a selling price of $21,761 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.

If you purchase a used Toyota Corolla that is 2 years old, then you could save $5,118 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 $3,647. 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.