2022 Toyota Corolla: Total Ownership Cost for Indiana Buyers

The Toyota Corolla has been the best-selling car in the world for multiple years and one of the most reliable vehicles ever produced. The 2022 model continues this tradition with updated styling, improved technology, and available hybrid powertrain that delivers exceptional fuel economy. For Indiana buyers seeking the lowest possible total cost of ownership in a compact sedan, the Corolla is the benchmark.

Purchase Price Range

Used 2022 Corollas in Indiana are priced in the $19,000 to $25,000 range for LE and SE trims with 20,000 to 45,000 miles. The Corolla Hybrid LE commands a $2,500 to $3,500 premium over the comparable non-hybrid. The XSE and XLE trims add $1,500 to $3,000 over the base LE.

Fuel Cost

The standard Corolla LE delivers 31 to 34 mpg combined, costing approximately $1,250 to $1,400 per year at 12,000 miles. The Corolla Hybrid achieves 50 to 53 mpg combined, reducing annual fuel cost to approximately $800 to $900. Over five years, the Hybrid's fuel savings of $1,750 to $2,500 more than offset its purchase premium.

Insurance Cost

The Corolla has one of the lowest insurance profiles in the compact sedan segment. Full coverage in Indiana typically runs $900 to $1,300 per year, below the Camry and well below most SUVs of similar purchase price.

Maintenance

Routine maintenance through 60,000 miles typically costs $550 to $850, among the lowest of any vehicle available. The naturally aspirated 1.8-liter engine has no turbocharger to maintain and uses conventional maintenance intervals.

Depreciation and Resale

The Corolla retains approximately 52 to 57 percent of value after three years, above average for the compact sedan segment and competitive with the Civic. Its strong demand in Indiana's used market supports resale values.