The Toyota Corolla packs a lot of comfort and practicality into a popular family car. However, Corolla owners may not know that their sedans are worth more than most other vehicles in resale and trade-in value. Specifically, the 2018, 2019, 2020, and 2021 model years hold values at an admirable level. That means that if you can afford to do so, you might consider trading in or, better yet, selling your Toyota Corolla. Also, if you got rid of your car, how would you replace it?
Is the Toyota Corolla a good car?
Toyota’s family sedan is a staple for consumers who want reliability and usability in a car. It may not win any awards for styling or horsepower, but the Corolla does pay dividends in balance. Specifically, it achieves respectable fuel economy across the board without compromising too much. Also, if you’re interested in fuel economy, the Corolla offers hybrid technology with an exceptional 53 mpg city and 52 mpg at highway speeds.
Furthermore, the Toyota sedan offers shoppers variety. If a Toyota customer wants a sporty 2021 Corolla, they could have picked out an APEX SE or APEX XSE with minor treatments like a sport-tuned suspension and an exhaust upgrade. Conversely, if you’re looking for efficiency, you can find a preowned Corolla Hybrid LE.
Which year of Corolla is best?
In terms of trade-in and resale value, the last few model years are difficult to beat. Specifically, 2018, 2019, 2020, and 2021 Corollas are paying the most substantial returns in the current market. Cars.com reports that recent model year Corolla owners can expect around 8% more in resale value than they would have in 2019.
In terms of choosing a model year, Consumer Reports recommends the 2018, 2019, and 2020 model years. However, they don’t recommend the 2021 model. The 2021 Corolla has only a three out of five in predicted reliability, while the others score much higher. Since reliability is one of the core promises of the lineup, consumers might consider buying a 2018-2020 Corolla instead of a 2021 model.
Which cars are better than the Toyota?
Since the market is beckoning you to sell that extra Corolla, you might want to consider a couple of alternatives. Consumers in the market should consider the Subaru Impreza, with standard all-wheel drive (AWD). In addition to sure-footedness in inclement weather, the Impreza tops Consumer Report’s lists of small sedans.
Should I sell or trade in my car?
If you can capitalize on a market that will pay you top dollar for a trade or outright sale, you might consider selling. However, if your Toyota sedan is your only vehicle, it might not be practical to cash in. Furthermore, if you’re looking to get out of your Corolla and into a new car, keep in mind that you might have difficulty finding one. Supply chain issues have hampered dealerships’ ability to get new inventory, and when they do, they might be missing features. Scroll down to the following article to read about an alternative to the Corolla Hatchback.