The 2021 Toyota Corolla carries forward its legacy as a dependable, budget-friendly, and secure choice among compact cars. While it may not match the excitement of its rivals like the Honda Civic and Mazda 3, it still has plenty to offer. For those interested in this year’s Corolla model, weighing the cost and associated trends is crucial.
For those seeking insights into the pricing of the 2021 Toyota Corolla, this is the right place. The more one learns about this vehicle, the easier it becomes to determine if it aligns with their lifestyle. Continue reading to discover details about the car’s Manufacturer’s Suggested Retail Price (MSRP), price trends, and other valuable cost-related information.
Manufacturer’s Suggested Retail Price (MSRP) for the 2021 Toyota Corolla
Understanding the price range of a vehicle is essential in determining its compatibility with one’s lifestyle and budget. This principle holds for the 2021 Toyota Corolla’s pricing. When evaluating the MSRP for various trims, the average MSRP hovers around $21,636.41—a reasonable price point for a compact car.
The cost of the Corolla varies depending on the trim level, as each version offers distinct features and upgrades for the 2021 model. According to information from toyotaofdowntownla.com, there are seven available trims for the 2021 Toyota Corolla, each with its starting price:
- L: $19,825
- LE: $20,275
- Hybrid LE: $23,400
- SE CVT: $22,275
- SE Nightshade Edition: $22,975
- XLE: $24,225
- XSE: $25,725
The price difference between the most and least expensive trims is manageable.
Understanding the MSRP proves valuable in making practical purchasing decisions. If the highest-priced trim is beyond your budget, explore several other options, ensuring you find the one that suits your financial constraints and desired features. With a variety of frames available, there’s no need to settle.
Why the Toyota Corolla’s MSRP Is So Affordable
In compact cars, the Toyota Corolla stands out for its affordability. This might seem too good, especially when many vehicles command exorbitant prices. However, several straightforward reasons explain why the Corolla boasts a low MSRP.
The Toyota Corolla offers a lower cost due to the following factors:
- High production volume
- A design known for reliability and durability, attracting more customers
- Slower depreciation
- Widespread popularity
- Minimal maintenance expenses
These factors collectively make the Toyota Corolla one of the most economical choices.
Toyota’s reputation for durability and value extends to the Toyota Corolla. It remains an affordable car option primarily because of its widespread popularity and the ability to produce it in large quantities. The Toyota Camry, another offering from Toyota, maintains an attractive price point accommodating a wide range of budgets.
Depreciation of the 2021 Toyota Corolla
Depreciation is a crucial consideration in any investment, particularly in automobiles. Many need to pay more attention to how much their car’s value will decline, leading to less financially productive ownership. The longer your Corolla retains its value; the lower your repair costs will be and the higher the resale value if you decide to part ways with it before it reaches the end of its lifespan.
According to data from caredge.com, here’s the projected depreciation for the 2021 Toyota Corolla:
The Corolla maintains an impressive 79% residual value by the fifth year of ownership.
While the value does decline over time, it does so steadily. Even by the end of a decade, the Toyota Corolla still boasts a remarkable 69% residual value. The Corolla is one of the most exceptional examples of depreciation management in the compact car market.
2021 Toyota Corolla Price Trends
Examining price trends related to a vehicle is always advisable before making a purchase. The most critical trend to consider is price prediction—what was the vehicle’s initial cost, and what was it anticipated to be? This information provides valuable insights into whether you are securing a favorable or unfavorable deal.
Here’s the trend for the 2021 Toyota Corolla based on data from the CoPilot Price Pulse tool:
The Corolla has experienced a gradual decline in its current price.
In November of the previous year, the 2021 Toyota Corolla’s price significantly exceeded the predicted value—nearly $8,000 higher. The cost has decreased over the past year but remains $3,821 above the projected price, representing an inflation rate of approximately 21%—significantly higher than anticipated.
Does the Toyota Corolla Maintain Its Value?
Toyota vehicles are renowned for their ability to retain their value, and the Toyota Corolla is no exception. After five years of ownership, the Corolla’s value depreciated by approximately 21%. Over a decade, the vehicle’s depreciation only amounts to about 31%. It retains its value remarkably well, offering a substantial resale value. The 2021 Toyota Corolla’s price remains competitive.
For those seeking a compact car with a resale value close to its original purchase price, the 2021 Toyota Corolla is an excellent choice. It competes effectively in the market, coming from one of the most trusted brands in the automotive industry. Toyota consistently ranks as a top seller year after year for a good reason.
Closing Thoughts
When contemplating the purchase of a 2021 Toyota Corolla, it’s essential to consider the price, especially when evaluating its overall value. Delving into factors such as depreciation trends, price fluctuations, MSRP, and more will simplify the decision-making process regarding whether this vehicle aligns with your lifestyle.
This information is a valuable resource in your quest for the ideal vehicle. Before purchasing this car, please consider the factors surrounding its price point. Fortunately, you won’t encounter significant issues with depreciation when opting for the Toyota Corolla.