2021 Toyota Corolla Price: MSRP, Depreciation, & Trends
The 2021 Toyota Corolla continues the model’s history of being a reliable, affordable, and safe compact car selection. Though it’s less thrilling than the competing Honda Civic and Mazda 3, it still has much to offer. If you’re interested in this Corolla year, it’s valuable to consider the cost. What is the 2021 Toyota Corolla price? What trends come with it?
If you’re interested in learning more about the prices associated with the 2021 Toyota Corolla, you’re in the right place. The more you know about the vehicle, the easier it will be to decide if it’s the correct choice for your life. Read on to learn more about the MSRP of the car, the trends associated with the price, and other valuable information that comes with the cost.
2021 Toyota Corolla MSRP
Knowledge of the price point associated with a vehicle will make it easier to determine if it will work for your lifestyle and budget. This statement applies to the 2021 Toyota Corolla price. When looking at every single MSRP for various trims, the average MSRP comes to $21,636.41. It’s a decent price point for a compact car.
The trim selected will vary in cost, as each version provides differing features and upgrades in the 2021 Toyota Corolla. According to toyotaofdowntownla.com, there are seven trims available for the 2021 Toyota Corolla.
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Here are their starting price points:
- 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 range isn’t too drastic between the most and least expensive trim.
MSRP is valuable and will ensure practical purchases ensue. If you can’t afford the priciest trim, go down the list until you land on one that fits your budget and desired features. Don’t settle with so many trims available.
Why Is the Corolla MSRP So Low?
As far as compact cars go, the Toyota Corolla offers an affordable price point. It might seem too good to be true, especially at a time when so many vehicles have shot up to wild costs. There are simple reasons why the Corolla MSRP is so low.
You’ll find a lower cost for the Toyota Corolla because it offers:
- A high production volume
- Reliable and durable design bringing in more customers
- Slow depreciation
- High popularity
- Low maintenance costs
These make the Toyota Corolla one of the cheapest available.
Toyota is known for its durability and value, and the Toyota Corolla is no different. It’s a cheap car selection, mostly because it’s so popular and can be produced in such high quantities. The Toyota Camry is available for a decent price point, low enough to satisfy almost every budget.
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2021 Toyota Corolla Depreciation
In any investment, depreciation is a critical variable. Many don’t consider how far their car’s value will drop, which leads to less productive ownership. The longer your Corolla holds its value, the less it will cost in repairs and the more you will be able to sell it if you want to remove it before it dies completely.
According to caredge.com, here is the predicted depreciation for the 2021 Toyota Corolla:
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The Corolla holds an impressive 79% residual value by the fifth year of ownership.
The value will drop as time goes on, but it’s a steady drop. In fact, by the end of the decade, the Toyota Corolla still holds an astounding 69% residual value. The Corolla is, by far, one of the most impressive depreciation specimens in the compact car market.
2021 Toyota Corolla Trends
It’s always ideal to look at the trends related to the price of a vehicle before purchasing it. The best trend to examine is the price prediction - what is the current cost of the machine and what was it predicted to be? This information reveals whether you’re getting a good deal or a bad one.
Here is the trend for the 2021 Toyota Corolla based on the CoPilot Price Pulse tool:
The Corolla has seen a slow dip in its current price.
In November of last year, the 2021 Toyota Corolla was way up from the predicted price point - nearly $8,000 higher. In the past year, the cost came down. Now, it’s $3,821 over the predicted price, which amounts to an inflation of about 21% - still much higher than it should be.
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Does the Toyota Corolla Hold Its Value?
Toyotas are well-known for holding their value, and the Toyota Corolla is no exception. After the first five years of ownership, the Corolla will drop about 21%. After the first decade of ownership, the vehicle will only fall about 31%. It will hold its value tremendously well and offer an incredible resale value. The 2021 Toyota Corolla price is a top contender.
If you want a compact car that will sell for a price point semi-close to the original purchase point, the 2021 Toyota Corolla is for you. It’s an excellent competitor on the market, coming straight from one of the most dependable brands in the automobile market. Toyota is a bestseller, year after year, for a reason.
Final Thoughts
Consider the 2021 Toyota Corolla price before buying, especially when pondering whether it’s worth spending your money. The deeper you dive into depreciation trends, price shifts, MSRP, and more, the simpler it will be to decide if it’s the ideal machine for your life.
We hope this information is valuable as you search for your next vehicle! Before purchasing this car, consider the information surrounding the price point. If your compact car will lose value quickly, it might be best to look elsewhere. Luckily, you won’t have much issue with depreciation in the Toyota Corolla.
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