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2021 toyota corolla
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Est Monthly Loan

The monthly payment is based on the price of this vehicle assuming it is financed. If you choose to lease, you can also use the payment calculator to determine your lease terms. Default values for financing include: Term of months, APR of , and Sales Tax of . Default values for leasing include: Term of months, Money Factor of , Residual Value of , and Sales Tax of .

2021 Toyota Corolla
$260 / month
$282 / month
Vehicle Price
A typical negotiated price before taxes & fees.
Incentives that help lower the selling price of a vehicle.
Available Money Factor of 0.00177 for 36 month lease
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Buying Tips

What you must know before buying the Toyota Corolla

Justin Cupler
Automotive Editor - August 7, 2020
  • 2021 Toyota Corolla is arriving
  • Up to $1,500 off (2020)
  • Finance: From 0% APR + cash (2020 hatchback)
  • Lease: From $199/mo. (2020 LE Sedan)

2021 Corolla is arriving:

The redesigned 2020 Corolla sedan, which boasts a design based on the Corolla hatchback and a more powerful 2.0-liter engine in the sporty SE and XSE trims, is still available alongside its hatchback sibling. The 2020 Corolla also includes a hybrid model that gets 53 miles per gallon city, 52 highway, and 52 combined.

This month, the 2020 Corolla's offers receive a few tweaks but mostly remain the same.

The carryover 2021 Toyota Corolla is hitting showrooms now and has a few offers too.

We expect to see some updated deals on the 2020 and 2021 Corolla around Labor Day.

Toyota's deals are regional and will expire August 31, 2020. All deals mentioned here are for Southern California unless specified otherwise.

Cash incentive boosted:

The 2020 Toyota Corolla features a $1,500 customer rebate. Buyers cannot stack this with the low APR below.

Buyers who want to stack cash and the low APR financing below can use the $500 special APR cash offer available with the Corolla Hatchback.

The 2021 Corolla features a $750 ($250 increase) customer cash rebate on the sedan and hatchback.

Finance from 0%:

Financing offers on the 2020 Corolla Sedan start at 0% for 60 months and 1.9% for 72. These replace last month's 1.9% for 60 months and 2.9% for 72 months APR offers.

The 2020 Corolla Hatchback's finance offers remain at 0% APR for 60 months and 2.9% APR for 72 months. The Hatchback also gets $500 in special APR cash when financing through Toyota.

Lease from $199/mo.:

The 2020 Corolla Sedan has two 36-month lease offers. Get the LE trim with the continuously variable transmission for $199 per month with $1,999 due at signing. The SE trim with the CVT is available at $209 per month with $1,999 due at signing.

With an effective monthly cost of $255 and $265, respectively, the Corolla SE and LE promotional leases are good values relative to their MSRPs.

Need the hatchback's extra cargo room? The 2020 Corolla SE Hatchback's 36-month lease is unchanged at $209 per month with $1,999 due at signing. With a $265 effective monthly cost, this lease is a good value for its MSRP.

The 2021 Corolla Sedan LE's 36-month promotional lease runs $239 ($10 reduction) per month with $1,999 due at signing. With an effective monthly cost of $295, this is a terrible value for its MSRP.

Opting for the thrifty 2021 Corolla Hybrid LE on a 36-month lease will set you back $269 per month with $1,999 due at signing. This adds up to a $325 monthly effective cost, which makes the Corolla Hybrid LE's lease a poor value relative to its MSRP.

All Corolla lease offers include an allowance of 12,000 miles per year.

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Advertised Lease Deals

LE Sedan
$239Monthly Payment
Term Length (months): 36
Due at signing: $1,999
Mileage: 12k
MSRP: $21,479
Deal Valid in: Southern California
Expiration: 8/31/20

This ranks as an excellent deal based on our expert analysis of: vehicle price, length of lease term, amount due at signing, monthly payment, etc.

CarsDirect Target Price

Prices vary by style

CarsDirectPricing as of 8/10/20 in 20149
Sales Price
Cash Rebates
Target Price
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Cash Incentives

Incentive available to most customers and purchasing situations.
Customer Rebate Customer Cash (Expires 8/31/20) Customer Rebate: Customers must take delivery of this vehicle prior to the expiration date to be eligible for this manufacturer rebate. This rebate may not be available on special factory orders or used in conjunction with special manufacturer financing or leasing programs. Other special financing programs may be available. Please check with your CarsDirect Trusted Dealer for complete details.%NotesManuf% %Eligibility% Not valid on Special Lease/Preferred Option transactions, APR programs or vehicles otherwise excluded based on the terms and conditions. %Qualification% Must be 18 years of age or older and have a valid driver's license. $750

Financing Incentives

Promotional APR Offer Promotional APR programs available for qualified buyers. Please check with your CarsDirect Trusted Dealer for complete details.%NotesManuf% %Eligibility% Contracts must be processed by TFS.
Term(s)1 - 2425 - 3637 - 4849 - 6061 - 72
Rate %2.9%2.9%2.9%2.9%3.9%
Eligibility Contracts must be processed by TFS.

Hurry! Offer expires

Leases For Similar Cars

Based on 2021 Toyota Corolla L 4dr Sedan w/CVT - MSRP $20,820

Best Toyota Deals & Lease Offers In August

Toyota's deals don't see much change for August. Popular models can be extremely good values when leasing. For example, the 2020 Toyota Camry LE starts at $229/month and has... View All Toyota Lease Deals

2021 Toyota Corolla Overview

Matthew Pilgrim
Automotive Editor

What's New

The 2021 Toyota Corolla was redesigned last year and carries forward mostly unchanged with a few exemptions. The Corolla finally adds Android Auto smartphone integration as standard equipment. Additionally, two new packages are available: a blacked-out Nightshade Edition is available on SE models, while a sporty Apex package is optional on SE and XSE trims.

Choosing Your Toyota Corolla

The Toyota Corolla is available in five trim levels: L, LE, SE, XLE, and XSE. Pricing starts at $20,780 including destination for the L and tops out at $26,680 for the XSE.

Engine Choices

The standard engine is a 1.8-liter four-cylinder, which is what's found in the L, LE, and XLE. The SE and XSE come equipped with a larger 2.0-liter four-cylinder engine, which also happens to get better fuel economy.

Engine TypeHorsepowerTorqueFuel Economy (Combined)
1.8L 4-Cylinder139 hp126 lb-ft33 mpg
2.0L 4-Cylinder169 hp151 lb-ft34 mpg

Power is routed to the front wheels through a continuously variable transmission (CVT). A six-speed manual is available on the SE for an extra $275 over the CVT.

The CVT features a fixed “first” gear for a natural acceleration feel and sound before the belt-and-pully system takes over.

Passenger and Cargo Capacity

The Corolla sedan can seat five passengers. Its 106.3-inch wheelbase affords 42 inches of front leg room and 34.8 inches of rear leg room. The trunk offers 13.1 cubic feet of cargo space, which is noticeably less than the rival Honda Civic.

Safety Features

Toyota equips the Corolla with its latest safety suite that includes automatic emergency braking with pedestrian detection, lane keeping assist, adaptive cruise control, lane departure warning, road sign recognition, and automatic high beams.

Blind-spot monitoring and rear cross-traffic alert are optional on the LE and SE and standard on the XLE and XSE.


A 7-inch touchscreen with Android Auto, Apple CarPlay, and Amazon Alexa integration is standard. A six-speaker audio system, two USB ports, Bluetooth, and satellite radio are also included.

The LE and above get an 8-inch touchscreen as standard. A nine-speaker JBL audio system is available on the SE, XLE, and XSE, while navigation is an option on just the XLE and XSE.

L - From $20,780

The base L trim features LED headlights and taillights, 15-inch steel wheels, and body-colored exterior mirrors and door handles. Inside, fabric seating, a 4.2-inch digital gauge cluster display, a tilt-and-telescoping steering wheel, and a split-folding rear seat are all standard.

LE - From $21,230

Next up, the Corolla LE adds more available exterior colors as well as 16-inch steel wheels and heated side mirrors. Premium fabric seats, automatic climate control, remote keyless entry, and the 8-inch touchscreen are also standard additions.

The LE Convenience Package $1,150 is a worthwhile selection as it includes blind-spot monitoring, rear cross-traffic alert, push-button start, and 16-inch alloy wheels. The LE Premium Package ($2,000) includes the same plus a sunroof.

SE - From $23,230

The SE trim takes the Corolla in a sportier direction with the 2.0-liter engine, a leather-wrapped steering wheel, and a dark gray rear spoiler, sport mesh grille, and 18-inch alloy wheels. It also gets higher grade LED headlights and turn signal indicators.

New for 2021, the SE Nightshade Edition package ($700) is available in black, white, and silver, and wears a black on the grille surround, 18-inch wheels, mirror housings, door handles, side rocker panels, rear spoiler, and badging.

The Apex sport package is available for the first time here. It adds summer performance tires, a more aggressive look, and other performance tweaks.

XLE - From $25,180

The Corolla XLE builds on the LE – meaning it's back to the 1.8-liter engine – and includes 16-inch alloy wheels, blind-spot monitoring, rear cross-traffic alert, and a sunroof. Inside, it adds leatherette seating, heated front seats, a six-way power driver's seat, push-button start, and a 7-inch gauge cluster.

The XLE Connectivity Package adds the nine-speaker JBL audio system, navigation, and wireless charging for $1,715. A $2,165 version of this package also includes adaptive headlights and ambient interior lighting.

XSE - From $26,680

The top-of-the-line XSE combines the sporty appearance of the SE with the features of the XLE. Standard dark gray painted ride rocker panels and a rear spoiler are visual differentiators from the SE trim. The 2.0-liter engine and an eight-way power driver's seat are standard.

The same packages from the XLE are available here, as is the Apex package.

Compare Corolla Trims Side-By-Side

CarsDirect Tip

This newest generation of the Corolla is more adept at providing an enthusiastic driving experience than ever before. The 2021 Toyota Corolla SE with the Premium Package provides the performance, athletic appearance, and safety features that make it the best selection in the lineup.

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