What’s a Used Corolla Worth?

August 4th, 2014 by

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The 2014 Toyota Corolla is one of the most popular compact sedans available on the market. Because of this, many people try to save money by purchasing a used one or trading in their older Corolla model for a new one. In either of these situations, you will need to have a good idea of how much a used Corolla is worth.

The value of a used Corolla, or any other car, will vary greatly depending on the model year, condition, mileage, and a range of other factors. You could realistically pay anywhere from $2,000 to nearly $18,000 for a used Corolla depending on these factors, but by being aware of what influences the value of the vehicle, you can still stay one step ahead.

Seller

One of the factors that can make a reasonable difference in terms of price of a used 2014 Toyota Corolla or earlier model is who you are buying it from. Sometimes, individuals selling the car will do so for a lower price than a dealership, but that does not mean the price difference is worth it. When you get a used Corolla from a dealership, you will have some sort of guarantee that it will work. You will also have the option in that case of getting a certified used Corolla. Although these cost a little more, they are worth the investment as you are guaranteed that they are in good working order.

Mileage

Another important influence on the value of a 2014 Toyota Corolla or earlier used model is the number of miles that the car has. A car with fewer miles will almost always be worth more than an identical one with more miles. This is because sedans with more miles have been driven more frequently, meaning that they tend to be in worse condition. Additionally, both buyers and sellers usually assume that cars with a lower mileage are less likely to need repairs in the near future and will have a longer lifespan ahead of them.

Trim Level

There are several different trim levels available for the 2014 Toyota Corolla, and although there were not always this many available, they can still impact the value of a used Corolla by several thousand dollars. If two Corollas are identical with the exception of the trim level, the one with the higher trim will be worth more. The price difference, however, will be smaller than the price difference between trims when purchasing a new Corolla.

Model Year

A final factor that can affect a used Corolla’s worth is the model year. Generally speaking, older models will have a lower value. This is due to fewer upgrades, a lack of new features, and the fact that the car probably has more miles and is in worse condition. For example, a 2013 Corolla can be anywhere from $16,400 to $17,800, but a 2012 model will be several thousand dollars cheaper at $14,300 to $15,500.

To see exactly how much a used Corolla will cost or get the value for yours, visit Warrenton Toyota in Warrenton, Virginia.

Posted in blog, Toyota Corolla