Home » You Can Still Buy A Brand New Toyota Corolla For Less Than $24,000

You Can Still Buy A Brand New Toyota Corolla For Less Than $24,000

2026 Corolla Xse Ts
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Does someone in your life need a reasonably priced new car to do reasonably priced car things for the next decade-plus? They’re probably gonna buy a Toyota Corolla. Not only is it the world’s best-selling car nameplate, it’s also been a byword for economical, dependable transportation for nearly 60 years. The latest generation is enjoying a particularly long model cycle, and the good news is that it’s staying inexpensive for 2026, serving a critical role in an age when the average new car price is nearing $50,000.

At $23,920 including freight, not only is the base Corolla LE still one of the least-expensive cars on the market, it’s also only $400 more than last year’s model while adding blind spot monitoring and a seven-inch digital gauge cluster. Blind-spot monitoring used to be part of the $930 LE Convenience Package but is now standard for 2026, meaning most of this price increase isn’t simply inflation, but instead giving people more of what they want.

Vidframe Min Top
Vidframe Min Bottom

Mind you, the LE is the only trim of Corolla under $25,000, because the next rung up the ladder—the SE trim—stickers for $26,360 including freight. Doing the math, that’s also $400 more expensive than last year, and it also gets blind-spot monitoring and the digital cluster, so I’d be tempted to call that a bit of a wash. Same with the $29,635 XSE which is also $400 more expensive than last year’s equivalent, although it gains a 12.3-inch digital cluster instead of a seven-inch one because prestige.

2026 Corolla Xse Windchillpearl
Photo credit: Toyota

Want something more efficient? Starting at the bottom of the range, the 2026 Corolla Hybrid LE stickers for $25,770, a $750 jump over the 2025 model. Like the combustion model, it adds a seven-inch digital gauge cluster and blind-spot monitoring, so if the $400 price jump on the regular Corolla is anything to go by, the cheapest Corolla Hybrid is really like $350 more expensive for the same feature set. Considering it’s rated at 47 MPG combined versus 35 MPG combined for the non-hybrid model, that $350 price hike ought to pay itself off pretty quickly in fuel savings.

2026 Corolla Hybrid Se Awd 001
Photo credit: Toyota

Further up the range, the Hybrid SE sees the same $750 price increase and the same newly standard seven-inch digital cluster and blind spot monitoring. This puts pricing at $28,210, undercutting the cheapest Civic Hybrid by $2,235 but with an asterisk. Not only is the electrified Civic more powerful, it also gets toys like a moonroof and heated seats.

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2026 Toyota Corolla Hybrid 002
Photo credit: Toyota

In that sense, the range-topping Corolla Hybrid XLE is probably a closer match, and with a price tag of $30,135 for 2026, it slides under the Civic Hybrid’s nose by just $310. Granted, it does go pretty much blow-for-blow on features and then some. We’re talking toys like heated leatherette seats, a 12.3-inch digital gauge cluster, and a 10.5-inch infotainment screen. Likewise, if you want an electric motor on the rear axle for through-the-road all-wheel-drive, it’s available on LE and SE trims for an extra $1,400, but I probably wouldn’t bother.

Corolla Le
Photo credit: Toyota

See, the Toyota Corolla is a car best enjoyed cheap and cheerful, and having spent time behind the wheel of a base model a handful of years ago, I’m pleased to report that it’s really all the car most commuters need. The fundamentals are solid from chassis rigidity to a reasonably peppy engine, cloth seats are never searing in the summer or cheek-chilling in the winter, you get loads of USB-C ports and a rear armrest and wireless Apple CarPlay and Android Auto and automatic climate control, and everything feels quite durable. Sure, the steering’s on novocaine and the seats grow a bit unsupportive after an hour or more in the saddle, but higher trims don’t fix either of those complaints, so you might as well keep it under $24,000 and on reasonably small wheels to maximize low running costs and slow depreciation. So there we are, genuinely sensible advice.

Top graphic image: Toyota

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Jesse Lee
Jesse Lee
9 hours ago

I have to doublecheck that it still exists, but the KIA Soul is still around and the starting MSRP is $20490. So while the fuel economy is not comparable to the Corolla, it is roomier and more practical.

Jesse Lee
Jesse Lee
10 hours ago

The most frustrating thing is that the much more practical and better looking Corolla hatchback, is somehow only available as an ICE car. There is no hybrid option. In this day and age I don’t understand who would want to buy a car with a trunk lid instead of a hatchback.

Squirrelmaster
Squirrelmaster
7 hours ago
Reply to  Jesse Lee

This. I really like the Corolla hatch, but would want the hybrid.

Ford_Timelord
Ford_Timelord
4 hours ago
Reply to  Jesse Lee

Corolla hybrid wagon from europe would be another excellent alternative. I think hybrid is the only way to go with the Corolla. The wafting around with the extra torque from the electric motor is very comforting and the economy speaks for itself in any sort of urban situation.

I’m trying
I’m trying
11 hours ago

Atleast at the two Toyota dealerships around here you haven’t been able to buy a new corolla for years. They have 3-4 “used” ones on the lot with less than 500miles that they’ll sell you for $1-2k over msrp and they don’t qualify for any incentives or low apr loans from Toyota since they are used. So you have to go through the dealers lending system at “surprisingly” a higher apr.

So you say I’ll just order a new one from Toyota. And after a couple months they say the car is in and that they’ve had to put a markup on it due to market conditions. So you say no that’s fine keep the car. And then miraculously it shows up on the lot the next week as used with 70 miles on the odometer for $1k over the msrp…. Allegedly

I can’t blame them I guess since similar civics have much higher msrps.

Casey Blake
Casey Blake
14 hours ago

The only brand-new car I’ve ever bought was a 2003 Corolla with a 5-speed manual (splurged on the LE trim with power windows). It was so good. The interior felt like a baby Lexus. Unexpected levels of refinement – incredible on the freeway. It got totaled by a drunk driver in a Camaro while street parked. A Corolla will never let you down, and is as much car as 94% of the population really needs. It’s probably one of the few cars that actually makes sense to buy new.

Hangover Grenade
Hangover Grenade
14 hours ago

I’d go with a Mazda3 just so I could get a manual. I could have sworn the Corolla hatchback had a manual option.

But then again, Mazda pairs the manual with a higher trim which starts at $32k. Sigh.

GhosnInABox
GhosnInABox
14 hours ago

Cheap relative to considerably nicer cars in an out-of-control market does not equal good value.

$25k should be Camry money. Corolla prices have increased 12-19% since 2018. But the current Corolla is basically the same car it was in 2018 (e210). A base model still should not MSRP a penny above $19k.

This is why the used car market is f**ked. It really says something when the cheapest new car on the market is still a ripoff. Over the same period, Toyota’s US sales have fallen 10%. Watch Toyota axe it claiming lack of profitability.

Alexander Moore
Alexander Moore
14 hours ago
Reply to  GhosnInABox

$25k should be Camry money.

Since when? $25k is equivalent to $15k in 2005. What was the starting MSRP of a manual, no-options Camry in 2005? $18k, or $30k today.

What’s the starting MSRP of a Camry today? I’ll wait. And it’s a hybrid as standard.

Bruno Ealo
Bruno Ealo
12 hours ago
Reply to  GhosnInABox

Would you still be working for the same amount of money you were making in 2018?

Kevin Rhodes
Kevin Rhodes
14 hours ago

Assuming they aren’t being “added dealer greeded” (yeah, right), the Hybrid seems like an absolute no-brainer. I don’t get why they even bother to make the non-Hybrid anymore. I also can’t imagine buying any trim level above the most basic. At $30K, there are just so many nice options than this, and I figure if you can swing $30K, you can probably swing $35K for something really good.

All the car anyone really needs to get around, even if not something I would ever own. Needs vs. wants being very much a thing.

Bruno Ealo
Bruno Ealo
14 hours ago

That’s actually not a bad price.My brother bought a top level Corolla new in 1999 that cost 19k.Granted it is the LE model but it has more equipment than the 1999 did,has more power,and is a much safer car.

Cerberus
Cerberus
16 hours ago

The cheapest hatch or hybrid is a good deal if you don’t care much about driving (it’s not a penalty car, just not fun), but against higher trims, I’d step up a little more for the Civic. The AWD is pretty much just a gimmick to sell to people who think they need it. In practice, I think it mainly helps regen. Really dumb that they don’t make a hybrid hatch, as the trunk is not big and the passthrough is kind of small, making the sedan barely more utilitarian than a GR86 for people who rarely put passengers in the back. You can decide if that’s an indictment of the Corolla or testament to the surprising usability of the ’86.

Staffma
Staffma
16 hours ago

We recently (May) bought a 2022 corolla SE Gold CPO for ~22K. I had asked about what new corollas they had in network… none, all sold out months in advance. It’s a great car solid 40 mpg, no complaints and the cvt feels way better than the previous gen. I looked at Hondas but really didn’t want to mess with a smaller turbo engine vs a 2.0L no turbo.

IRegertNothing, Esq.
IRegertNothing, Esq.
17 hours ago

I think the hatchback is a solid deal, starting at the SE trim for around $25-$26k. I would advise pushing the price up just a bit to get the hatch over a sedan with a small trunk that will frustrate the crap out of you at times. If something happened to my car a Corrola hatchback would be high on the list as a possible replacement.

Last edited 17 hours ago by IRegertNothing, Esq.
Taargus Taargus
Taargus Taargus
16 hours ago

I really like the Corolla hatch and would also prefer it over the sedan. But for people who need to use the backseat, the hatch is small. Like, genuinely, almost shockingly small for a new car sold in 2025 (in the US anyway). I like this, but it might be a bad choice for certain people.

Jason H.
Jason H.
16 hours ago

I don’t buy sedans so the hatch is a lot for appealing to me. Unfortunately Toyota doesn’t offer it as a hybrid – yet.

IRegertNothing, Esq.
IRegertNothing, Esq.
16 hours ago
Reply to  Jason H.

Yeah, not offering it as a hybrid seems like a whiff to me. It still gets better fuel economy than the Mazda3 but the difference is close enough that I might go with the more engaging driving experience of the Mazda. Or I could push the budget for a Civic hybrid.

Son of Dad
Son of Dad
14 hours ago
Reply to  Jason H.

Prius?

Eggsalad
Eggsalad
14 hours ago
Reply to  Son of Dad

Exactly the right answer. The price difference between a gas Corolla hatchback and a base Prius is so small that it makes no sense to offer a Corolla hatchback hybrid.

I’m convinced that the ONLY reason the Corolla Hatchback exists is to help offset and amortize the costs of building the Corolla GR.

Jason H.
Jason H.
13 hours ago
Reply to  Eggsalad

I have the opposite take. I don’t see the reason for the Prius anymore now that almost every regular Toyota model has a hybrid option.

Why make a unique model with unique sheet metal to sell only 45K a year?

Eggsalad
Eggsalad
13 hours ago
Reply to  Jason H.

A fair take, and my only response is that the Prius “brand” has a lot of investment and name recognition so it makes little sense to drop it. If you gave me a choice of a hypothetical Corolla Hatchback Hybrid and a Prius for about the same price, I’d take the Prius.

Jason H.
Jason H.
13 hours ago
Reply to  Son of Dad

I had two 2nd gen and my parents had a 3rd gen so I’ve spend quite a bit of time in a Prius. I’ve had the new one as a rental for a week and while the extra power is nice I don’t like the car it is packaged in.

The Prius powertrain in the Corolla Hatch body would be nice though.

Taargus Taargus
Taargus Taargus
14 hours ago
Reply to  Jason H.

My understanding is that the sedan hybrid is an absolute dog, they’re not offering the substantially better Prius powertrain in this. The hatchback and the sedan’s 2.0L with CVT where first gear is a real gear is surprisingly decent, if not exactly setting the world on fire.

Jason H.
Jason H.
13 hours ago

Yes it is. The Corolla has a 1.5L / 138 hp powertrain similar to the one in my old 2005 or 2009 Prius.

Personally I’d like to see the 2.0L Prius powertrain offered as a performance option. I’ve driven the new Prius and the power increase is noticeable even if I don’t like the car it is packaged in.

Taargus Taargus
Taargus Taargus
12 hours ago
Reply to  Jason H.

I like the new Prius and it’s form factor, but I also understand that it’s pretty impractical for a hatchback. I could see the benefit in having that powertrain in a more practical Corolla.

Jason H.
Jason H.
9 hours ago

My problem with the new Prius is that the reduced the height by 2 inches vs my old Prius. That not only makes the seating position lower but the rear view mirror is low and blocks the view of what is ahead. It makes a huge blind spot along with the huge blind spots caused by the A-pillars.

It has the claustrophobic feel of the last gen Camaro.

Bill C
Bill C
14 hours ago

I tried hard to like the hatch, but it needs more wheelbase, 4 to 6″ split between the rear seat and the cargo hold. Still, Corolla the best normie car for people who don’t really care that much about cars. I actually like the previous generation better. Not fun sure, but the rear seat was generous. This gen got tighter.

My Other Car is a Tetanus Shot
My Other Car is a Tetanus Shot
17 hours ago

I had a Corolla as a rental recently. I am trying to remember anything about it.

It drove fine. It got good gas mileage. It had ‘Eco’ mode, which made the accelerator resist application for fuel economy (annoying). It had adaptive cruise that I kind of had to fuss with (didn’t know it had the feature at the time). It was red.

It was the Matt Hardigree of invisible cars. It is a perfectly cromulent car for those who view cars as a moving toaster.

Goof
Goof
16 hours ago

To be fair, most people just want a toaster.

Imagine an Autopian for actual toaster enthusiasts. I know those people exist. Don’t even get me started on the waffle iron community. That is a thing.

They just wanted bread toasted easily, consistently, cheaply and reliably.

We’re like… the people like me that are like, “FOOL, YOU NEED QUARTZ TUBES! IF IT CAN’T GET A BAGEL PERFECT IN 3 MINUTES IT SUCKS!”

OrigamiSensei
OrigamiSensei
15 hours ago
Reply to  Goof

There’s a restaurant in Stewart BC called El Tostador that’s also a toaster museum. It’s rather cool, actually.

Ben
Ben
13 hours ago
Reply to  Goof

I will kick off the Toastopian with this video: https://www.youtube.com/watch?v=1OfxlSG6q5Y&pp=ygUddGVjaG5vbG9neSBjb25uZWN0aW9uIHRvYXN0ZXI%3D

I thought the title was clickbait, but then I watched it and it made me hate modern toasters (and a lot of other modern appliances). 🙂

Goof
Goof
12 hours ago
Reply to  Ben

Technology Connections always delivers.

It’s more than “a toaster” but I’ve found the Breville BOV650XL delivers on its promise. My first one went 17 years before I assume some capacitor gave out, and I kind of regret not bothering to repair it. What’s great is for meals for one it just demolishes the oven, since it’s so much less space to heat up and temperature manage. Great for quickly cooking a pork chop, chicken breast, etc.

Though yes, quartz tubes, perfect every time in 2.5 – 3 minutes.

Last edited 12 hours ago by Goof
William Domer
William Domer
6 hours ago
Reply to  Goof

There can be only one: Dualit

William Domer
William Domer
6 hours ago
Reply to  William Domer

Ps. I bought a commercial old school used waffle iron 25 years ago for 30 bucks. It is invincible and the proof of its’ goodness is the waffle love my grandkids show. No shit Teflon. No deep Belgian weirdness. Just great waffles. Pro tip; Trader Joe’s buttermilk mix. Add your own real vanilla. And for gods sake use real Canadian maple syrup you heathens.

Ford_Timelord
Ford_Timelord
4 hours ago
Reply to  Goof

A lot of enthusiasts have one reliable car to get parts. I know a Lancia aficionado with a Previa, A BMW R80 bike nut with a Landcruiser for recoveries. Others for doing chores or for family.
TBH my Corolla (modified manual 1988 Altrac 4wd Wagon) would be more of an enthusiast car than most cars on my street anyway (and I still have a far more unreliable car to wrench on).

Ford_Timelord
Ford_Timelord
4 hours ago

Adaptive cruise is one of the best inventions of the last 20 years. Its made me want to move on from my pre 1990 cars. Like the Eco mode you can always turn it off.
Next time try the hybrid its a way better car to drive.. almost fun.

Ervin Kosta
Ervin Kosta
17 hours ago

Jetta SE 1.5t with the nice differential all day. amazing fuel economy. this from my BMW gearhead friend – i don’t have experience with these jettas. But my mechanic doesn’t hate their reliability, which is a really big shift for him.

Jason H.
Jason H.
17 hours ago
Reply to  Ervin Kosta

We have different ideas of amazing fuel economy. The Corolla is rated at 34 mpg combined and the Jetta is 33 mpg. Similar but to me both are poor for a compact sedan. That is poor for even a crossover. Jump to the Corolla Hybrid and then we get to good – 47 mpg combined and 50 in the city.

To get to great we have to look at something like the 2025 Camry at 51 mpg combined despite being a class size larger and 225 hp vs 138 for the Corolla.

Neo
Neo
16 hours ago
Reply to  Jason H.

No argument there – the hybrid is a different league.

Goof
Goof
16 hours ago
Reply to  Jason H.

New Camry is actually really, really good.

It’s hard to argue if someone wants a 3-box sedan to put two kids in.

That’s a car you buy for 15 years, 30 if you DIY a pack swap.

Goof
Goof
12 hours ago
Reply to  Goof

Also, nerd in me went and looked at the specs of all the Toyota 3-box Hybrids. If for some reason I (or some ladyfriend) were to get one, I swear I would immediately replace the stock wheels.

The difference between the new Prius’s 19s and 17s is +4mpg.

Still, that’s the stock wheels. What if you could find really light aero-focused 17s, and also found lighter tires that were even lower rolling resistance? I’d bet another +2-3mpg is possible from the swap.

Jason H.
Jason H.
17 hours ago

This puts pricing at $28,210, undercutting the cheapest Civic Hybrid by $2,235 but with an asterisk. Not only is the electrified Civic more powerful, it also gets toys like a moonroof and heated seats.

The Corolla is a compact car while the Civic has been a midsize for years. One should expect a high trim Corolla to cost as much as a base spec Civic

V10omous
V10omous
17 hours ago
Reply to  Jason H.

The Civic is 2″ longer than the Corolla and has a 1.5″ longer wheelbase.

Hardly a size class apart.

Jason H.
Jason H.
17 hours ago
Reply to  V10omous

Vehicle classes are based on interior volume.

102 cu ft = Corolla
114 cu ft = Civic
115 cu ft = Camry
123 cu ft = Accord (which is a large car)

Vehicle classes:
<85 ………….. Minicompact
85 to 99 ……. Subcompact
100 to 109 … Compact
110 to 119 …. Midsize
> 120 ……….. Large

V10omous
V10omous
17 hours ago
Reply to  Jason H.

Considering the width and height dimensions are nearly identical as well, I wonder how much of that interior volume is usable and what accounts for the Civic’s more efficient use of its footprint.

Either way, strict definitions aside, the average consumer is clearly going to see the two as direct competitors and expecting the Corolla to be thousands cheaper doesn’t make a lot of sense.

GreatFallsGreen
GreatFallsGreen
16 hours ago
Reply to  V10omous

This. The size differences between them are very real and can be felt (not just a number on a sheet), but they are no less of competitors for it.

When the Accord and Taurus were battling for the best-selling car title 30+ years ago (sigh), they were often compared as ‘family cars’ – but the size differences were even greater between them.

LTDScott
LTDScott
17 hours ago
Reply to  Jason H.

Which is why some land yachts from the 70s were classed as midsize.

Kevin Rhodes
Kevin Rhodes
14 hours ago
Reply to  Jason H.

The classifications are highly arbitrary distinctions. Do you really think that going from 109 to 110cu ft makes any difference in the real world?

And then there is the HOW those cubes are used. cubic boxes vs. ping pong balls matter. Interior shapes matter. The Corolla and Civic are absolutely close competitors and always have been. And a Camry FEELS like a HELL of a lot bigger car than a Civic, even if it technically only has that single cubic foot of additional space, while an Accord doesn’t really feel much bigger than a Camry. Have had all of them as rentals countless times for many generations of them.

Jason H.
Jason H.
13 hours ago
Reply to  Kevin Rhodes

Market classes are highly arbitrary – basically anything that the marketing department says. On the other hand EPA classes haven’t changed for 50 years and there is an industry standard that calls out exactly how to measure that volume.

Thirty years ago the Corolla and Civic where the same size. Toyota resisted size creep over the years while the Civic got bigger and bigger. A 2025 Civic is 18% larger than a 1995 Civic and larger than a 1995 Accord.

We will have to agree to disagree on the feel because I’ve also rented them all and an Accord larger than a Camry. Almost 3 inches more rear legroom will do that.

Rad Barchetta
Rad Barchetta
17 hours ago

$25,000 is the new $20,000.

This is the world we live in.

Alexk98
Alexk98
17 hours ago
Reply to  Rad Barchetta

Inflation since COVID in 2020 has been an almost exact 25% cumulatively, so a 2020 car at 20k should be exactly 25k in 2025. It’s a staggering amount for 5 years, but it is what it is. the difference in interest rates since then is certainly a killer on car loans.

Frank Smith
Frank Smith
17 hours ago
Reply to  Alexk98

Staggering, but not unprecedented. In the stagflation era of Carter and Reagan, the 5 year period 1977-1982 had a cumulative inflation of 66%.

Frank Smith
Frank Smith
17 hours ago
Reply to  Frank Smith

In fact, the “normal” 5 year inflation rate of 16% (avg. 3% per year) didn’t settle back in until the Clinton era.

Toecutter
Toecutter
17 hours ago

That price is close to what my father paid for a used Audi TT Quattro in 2003. Except for many “middle class” careers, nominal wages have not increased. What my dad did for a living then, pays roughly the same as it does now, nominally, and buys a lot less.

That TT was not “reasonably priced” back then, and $24,000 is not reasonably priced today either, except you’re getting a bland appliance instead of an exciting sports car for the price.

Alexk98
Alexk98
17 hours ago
Reply to  Toecutter

FWIW inflation since 2003 would mean that 24k then would be worth 42k in 2025 dollars, and 42k does get you a lot of new or used sports car these days. 42k gets you a new Miata Club or any BRZ/FRS, or a used Supra with a stick, Z4, and a lot of others.

Toecutter
Toecutter
17 hours ago
Reply to  Alexk98

The CPI inflation rate uses statistical obfuscations such as hedonic adjustments and substitutions, which actually understate the real on-the-street rate of inflation by claiming price increases that occurred didn’t actually occur and leaving them out of the inflation calculation. I like to price things in terms of hours of minimum wage and hours of median wage labor to show a more accurate picture to how the average Joe experiences the price hikes, but that is also not without its issues.

A $24,000 car today is about as affordable to most working people as a $24,000 car was 20 years ago. That is to say, not at all affordable without being in debt for the next 6+ years with a $500+/mo payment. There is a big difference today in what is accessible to your common person vs what was accessible back then. Someone making $60k/year in 2025 would have a much more difficult time affording a lightly used 2 year old Audi TT than someone making $60k/year in 2003, and even back in 2003 when it was easier, that would be a financially reckless decision.

Alexk98
Alexk98
17 hours ago
Reply to  Toecutter

Someone making $60k/year in 2025 would have a much more difficult time affording a lightly used 2 year old Audi TT than someone making $60k/year in 2003, and even back in 2003 when it was easier, that would be a financially reckless decision

I don’t see your argument/point here, of course that would be harder because inflation means the buying power of a dollar decreases over time. Making 60k in 2003 is roughly equivalent to 105k in 2025 dollars, and a 2ish year old Audi TT can be found in the 40-45k range, which is exactly in line with inflation for 24k in 2003 for a similarly used car (42k in 2025 $$).

While yes housing prices have not exactly paced inflation but have exceeded them, and other things have outpaced that number, it’s not unfair to say that prices of vehicles have paces pretty spot on for both new and used, and I think it’s fair to argue that a 2 year old car today objectively offers more than a 2 year old car did in 2003, just on raw numbers of power, efficiency, features, safety, etc.

Last edited 17 hours ago by Alexk98
Toecutter
Toecutter
17 hours ago
Reply to  Alexk98

For something novel like a new car or a new or used sports car, its affordability hinges upon disposable income. And for most people, disposable income doesn’t exist anymore.

Something being affordable on paper, does not actually mean it’s affordable. That doesn’t stop the financiers from trying to make these things “affordable” by stretching out payment plans for 96 months instead of what used to be 48 months, with generous surcharges and interest attached. But that game can’t continue forever.

$24k for a new Corolla, in this context, is quite depressing IMO.

Jason H.
Jason H.
17 hours ago
Reply to  Toecutter

Median household income in 2003 = $43,320 ($ 833 per week)
Median household income in 2023 = $80,610 ($1,550 per week)

Base Corolla in 2003 = $14,050. (16.9 weeks of income to purchase)
Base Corolla in 2023 = $20,751. (13,4 weeks of income to purchase)

A 2023 Corolla is cheaper than a 2003 Corolla if we look at msrp vs weeks of median household income.

It isn’t the price of cars that is making things difficult for families – they are getting cheaper whether we adjust them for CPI inflation or median household income.

Income from FRED:
https://fred.stlouisfed.org/series/MEHOINUSA646N

MSRPs from KBB:
https://www.kbb.com/toyota/corolla/2003/

Jason H.
Jason H.
17 hours ago
Reply to  Toecutter

Used vs New = Apples vs Oranges. Let’s do apples to apples

A base 2003 Corolla cost $14,055 MSRP ($24,630 in 2025 dollars)
A base 2025 Corolla costs $22,325 MSRP

A base Corolla is cheaper today than in 2003.

Automakers can’t control income inequality in the USA. All we can do is hold down the price of our vehicles and we have been doing a great job at it for decades while make vehicles that are larger, more powerful, more fuel efficient, cleaner, and better equipped.

Frank Smith
Frank Smith
17 hours ago
Reply to  Jason H.

Comparing new vs new, I paid about $24k for a new Mustang GT in 2002.

Toecutter
Toecutter
17 hours ago
Reply to  Jason H.

Automakers can’t control income inequality in the USA. 

Their emphasis on aesthetics over aerodynamics, constantly increasing size, constantly increasing feature creep, forced reliance of the customer upon dealership ecosystems for any repairs as a result of tech bloat, emphasis on long-term financing done by the automaker itself(eg. GMAC), are all massively contributing to inequality in this country, by helping to siphon more of people’s money out of their wallets to the car company execs and shareholders, just for needing a car.

There are a wide variety of jobs whose wages are still stuck in the 1990s and 2000s, except with today’s prices. In terms of hours of work to afford it, the base Corolla today ends up being more expensive than it was 22 years ago, in spite of the statistics saying it’s cheaper.

Alexander Moore
Alexander Moore
14 hours ago
Reply to  Toecutter

Maybe ask the government to start subsidizing cheap cars, then. That’s what they do in China.

Jason H.
Jason H.
13 hours ago
Reply to  Toecutter

 In terms of hours of work to afford it, the base Corolla today ends up being more expensive than it was 22 years ago, in spite of the statistics saying it’s cheaper.

NO, it is not. I just did the math for you above when you said CPI was fake and we should use median wages. It takes the median household 3.5 weeks less work to buy a Corolla than a median household back in 2003.

My Other Car is a Tetanus Shot
My Other Car is a Tetanus Shot
17 hours ago
Reply to  Toecutter

While I am sympathetic to the problem of price inflation for goods and wages not keeping up to inflation, it is tiring to have every thread turn into a complain-fest about the topic.

It’s a marker of getting old when all one can do is complain that: (a) things are more expensive, and (b) things were better in the past. It’s a tale as old as time, and people were complaining about this in 2003 as well.

Yeah, it’s an article about a Corolla, so it’s not going to have a ton of commentary about the car itself, but it would be nice to contain the complaints to TMD or somesuch.

Ash78
Ash78
17 hours ago

I’m probably a weirdo, but for the past couple generations, I’ve unfairly considered the Civic to be a full notch above Corolla. It doesn’t even make sense, I think it’s just the fact that Honda kept cars like the Si and the Type-R around, which elevated the status of the Civic more broadly (let’s ignore the GR, it’s new and barely a blip on non-enthusiasts’ radar).

Ironically, I rode in a few Corolla hybrid wagons (Europe taxis) and would love one. Especially if it was $10k less then the equivalent RAV. The Crossover Tax is sometimes just too much…

Alexk98
Alexk98
17 hours ago
Reply to  Ash78

I think in some ways it is, for one the Civic has grown in size much more quickly than the Corolla, so the current Civic offers a bit more volume for your money, it’s only around 2″ in length/wheelbase, but it does make a difference. What is really different is the hatchbacks, the civic hatch is about the same length as the sedan, while the corolla is shorter, so the civic hatch is 7″ longer than the corolla hatch.

I also would argue the current Civic’s interior is much more visually appealing than the corollas, although having not spent time in the current corolla, I can’t comment on quality. The new Civic is a really killer value, my friend has a ’23 hatch sport manual and it was around 25k new, and while it isn’t fast, it’s a TON of vehicle per dollar that has a little sizzle the base engined Corolla doesn’t have.

Ash78
Ash78
17 hours ago
Reply to  Alexk98

I believe the Civic hatch is about 5-7″ shorter than the sedan now, but same wheelbase and passenger specs. I love them, but since the hatch is a pretty big premium over the sedan now (for little extra usable cargo space), I’m leaning sedan. Hard to believe the hybrid models are now faster than the Si…I never thought this would be the marketing approach, but I think it’s a good thing overall. You get the EV experience at low speeds or under WOT, but otherwise the Civic/CR-V drivetrain is really unobtrusive. And eliminating the traditional tranny at least helps remove some of the moving parts and complexity.

I’m not up to speed on Toyota’s hybrids, but I actually signed up for the 2026 RAV mailing list yesterday. I never thought I’d find them appealing but here we are — brands are finding ways to split the difference between hot hatches and family crossovers and super-efficient commuters. It’s amazing.

Alexk98
Alexk98
17 hours ago
Reply to  Ash78

What I could find online says the Civic hatch is 179″ long, the sedan in 185″ long, so definitely shorter, but the hatch to hatch difference civic to corolla is 7″ on it’s own, while the sedans are closer. The hatch does have a metric ton of usable space too. I have a friend with a prev-gen Si, and the current gen hatch does seem a good bit more practical with it’s shorter overall length, but the value proposition is only really there if you MUST have a stick. 30k for an Si or 25k for a sport hatch with a stick are the only ways you can currently get a 6-Speed civic iirc.

GreatFallsGreen
GreatFallsGreen
16 hours ago
Reply to  Alexk98

Starting with the 2025 models, the Si and Integra are now the only manual shift options south of the CTR/ITS.

IMO part of the difference in Civic vs. Corolla now is how each brand approaches the model. There used to be a pretty tangible difference in those models vs. the Accord & Camry. Toyota still seems to restrict the Corolla in order to protect the Camry, while some question whether the Civic is so good as to make the Accord redundant if you don’t need that much space.

Bill C
Bill C
14 hours ago
Reply to  Ash78

I got a ’25 hybrid hatch in the Sport Touring trim and all the goodies. To anybody on the fence, I’d say think hard about whether the Sport trim is good enough, and forgo a paint color with a charge. I’m actually not a big fan of leather seats, and I like the stripe design in the cloth ones. I think all models have Google Maps built-in, and having experienced Android Auto for the first time, I’m not impressed, so wireless AA is neither here nor there. Get multiple quotes and shop around. I’m cheap, so I could design an even more base model than the Sport (steelies with covers, normie-size tires (16 or 15), delete the moonroof, heated seats, soft-touch and a few other things) but realistically I’m not sure they’d sell so Honda probably has it planned fine.

Jesse Lee
Jesse Lee
9 hours ago
Reply to  Ash78

I think you are right. In the recent decade the Corolla has definitely gone ‘rental’ whereas the Civic seems to at least give a darn.

Ford_Timelord
Ford_Timelord
4 hours ago
Reply to  Ash78

I tested a Corolla hybrid wagon here in Australia as they are slightly used exports from Japan (and not available from dealers) and sell fully loaded with less than 60k kilometres for the price of a base new Corolla hatch but unfortunately the JDM wagons are about 15cm shorter (with the same limited rear legroom as the hatch) compared to the Euro wagons.

Taargus Taargus
Taargus Taargus
17 hours ago

The LE really is the best deal, as the standard equipment is pretty decent and all anyone really needs. It’s a bummer it comes on steelies with covers though; I don’t mind painted steel wheels on certain trucks and SUVs, but on compact commuters cars they really scream CHEAP! to the world. And cheap is fine and all that, but that’d be the only upgrade I would really want.

The other issue is that it’s very very hard to find Toyotas in colors (seriously) but finding a base model Corolla in anything other than grayscale? Good freaking luck. And while I admire the Corolla in a way, is there anything more boring than a white Corolla? Maybe a gray RAV4?

Last edited 17 hours ago by Taargus Taargus
Mechanical Pig
Mechanical Pig
17 hours ago

I’m convinced Ford keeps the base model Maverick on ugly steelies (without even the grace of covers) purely to push people up a level to the XLT to get some nicer alloys. At least to me, those wheels stick out like a sore thumb. Sure, you could buy a new set of wheels, but that’d run you at least a grand, two if you get new tires too, and that’s within shouting distance of the price difference stepping up a trim level, and then you get a bunch of other upgrades too. Sooooo….sure we can’t get you into a XLT today? We don’t have any XLs on the lot, have to get one transferred, be a few days, and your choices are, lets see…..white, or uhh, white.

Taargus Taargus
Taargus Taargus
16 hours ago
Reply to  Mechanical Pig

I actually really like the Maverick on painted steelies. To me, steelies look pretty good on utilitarian vehicles, but like crap on things like sedans.

But I agree, a set of aftermarket wheels aren’t really that cheap.

My Other Car is a Tetanus Shot
My Other Car is a Tetanus Shot
17 hours ago

Admittedly changing the wheels is literally one of the easiest upgrades to do aftermarket.

I like taking the steel wheels and using them for my winter tires. Then I buy a set of nicer aluminum wheels for my summer tires.

Colour is harder, admittedly.

Taargus Taargus
Taargus Taargus
16 hours ago

I definitely see the benefit of that, though if we’re shopping in the 23k inexpensive sedan territory, I’m probably not springing for multiple sets of wheels and tires. Really, I’d prefer Toyota to offer a cheapish alloy wheel package to allow me to upgrade without having to spend a full 2k+ to add a bunch of other crap. A dealer might be willing to do this though.

My Other Car is a Tetanus Shot
My Other Car is a Tetanus Shot
15 hours ago

Admittedly, I am located in Canada, so winter is definitely a thing. If I’m spendy enough to buy a brand new $25,000+ machine, I’m certainly putting a decent set of winter tires on the vehicle.

Taargus Taargus
Taargus Taargus
14 hours ago

Fair, I’m located in practically Canada, and I run Michelin Cross Climate 2s on both cars. I used to have a set of snows on all my pervious vehicles.

Jason H.
Jason H.
14 hours ago

Winter is still real regardless of the price of a car.

Personally I’ve been buying junkyard factory alloys for my winter wheels. They are cheap AND they use factory lug nuts instead of the weird aftermarket lug nuts and with their own socket adapter.

Paid $70 each for the wheels I’m using on the Bolt.

Bill C
Bill C
14 hours ago

5-spoke steelies can be done (Fusions and Malibus had them, with covers) but I haven’t seen any that were nice without the covers.

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