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MSRP
$19,600
U.S. News Best Price Program

Buying Advice

Last Updated: May 13, 2020

Top Seller: The practical and dependable Toyota Corolla was one of the top-selling compact cars last year, just behind the Honda Civic. The Corolla has since replaced the Honda as the best seller in the class. Like most of the auto industry though, sales of the Corolla have been slipping; Toyota dealerships have sold 12 percent fewer Corolla models so far this year relative to the same period in 2019.

Below Average Prices: The Corolla comes standard with an automatic transmission and starts at $19,600, which is about $1,500 below the average MSRP for base trims in the class. It undercuts a base Civic equipped with an automatic transmission by about $1,000. A fully loaded Corolla starts about $1,000 below the class average, and about $3,000 below a similarly equipped Civic.

Time to Buy: Regardless of market trends, we suggest considering options since the Corolla doesn’t rank well among compact cars. The Kia Forte, for example, ranks much higher than the Corolla while starting almost $1,000 below the Corolla. It’s also the winner of our 2020 Best Compact Car for the Money award, meaning that it’s a great value. That being said, the Corolla was a finalist for the award, so it brings value to the table as well. The Corolla can also be had as a hatchback for extra practicality. 

No matter which you choose, be sure to check out our Toyota and Kia deals pages for the best finance and lease incentives that can help you save. To help shoppers during the Coronavirus pandemic, Toyota is offering lease rates as low as $155 per month for three years and a $2,999 down payment. Rates can vary based on location, so be sure to speak with your local dealership for deal availability. Also, check out the U.S. News Best Price Program to find the lowest prices at dealerships in your area.

2020 Toyota Corolla Prices

MSRP: $19,600

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U.S. News Best Price Program

2020 Toyota Corolla

MSRP: $19,600 - $25,550

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