2022 Toyota Corolla Prices: MSRP vs Dealer Invoice vs True Dealer Cost w/Holdback

The 2022 Toyota Corolla is an affordable and reliable compact car. It's also an attractive and well-equipped vehicle. Toyota provides plenty of standard features for all nine models of the Corolla. This includes comfort, convenience and safety features. The Corolla also offers plenty of standard driver-assist technology.

What’s New for 2022?

The LE Hybrid model of the Corolla gets a new Premium Interior Package for 2022. This includes a leather-wrapped steering wheel and leatherette seat trim. It upgrades the driver's seat to include power adjustments and lumbar support. It also adds heated seats for both the driver and the front passenger.

Toyota is also offering a few new paint schemes for the 2022 Corolla. This includes two new colors that the automaker calls Windchill Flare and Ruby Flare. These colors are available on all sedan models of the Corolla. Hatchbacks get a new, bold color that Toyota calls Finish Line Red.

Styles and Configurations

For 2022, Toyota will be offering gasoline-powered and hybrid versions of the Corolla. This car comes in two different body styles. There's a compact, four-door sedan and a hatchback model. Hatchbacks provide 17.8 cubic-feet of cargo space while all models offer seating for up to five people. All versions of the Corolla are front-wheel drive vehicles.

Performance and Fuel Economy

The base powertrain for the 2022 Corolla is a 1.8-liter, I4 engine with 16 valves and DOHC (dual overhead cams). It makes 139 horsepower and 126 pound-feet of torque. Hybrid models also use this engine paired with an electric motor, which drops the power output down to 121 horses. Hybrid powertrains get an ECVT or Electronically-Controlled, Continuously-Variable Transmission. All other models come stock with a Dynamic-Shift CVT.

Most models of the Corolla come equipped with a more-powerful, Dynamic-Force Engine. This is a 2.0-liter, I4 engine with 16 valves and DOHC. It produces 168 horsepower with 151 pound-feet of torque. A Corolla equipped with this engine has an EPA-estimated fuel-economy rating of 32 mpg (miles-per-gallon) in the city and 41 mpg on the highway.

Every trim level gets a suspension system with MacPherson struts and a stabilizer bar up front. The rear has a multi-link suspension. ZSE Apex Edition Corollas have increased stabilizer-bar spring rates and increased coil-spring rates. The Corolla also has Electronic Power Steering and power-assisted, ventilated disc brakes.

Driving Impressions

The Corolla is no sports car, but there's more than enough power for good acceleration from a dead stop. The car handles nicely too. The CVT operates so smoothly that it may seem strange at first when the driver realizes there are no sudden gear shifts to be felt. The ride quality is comfortable and smooth as well. The suspension system negates most road bumps, and it's adequately quiet inside of the cabin.

Exterior Features

Most trim levels of the Corolla get high-grade LED headlights and LED taillights with a smoked sport trim. Toyota's Adaptive Front-Lighting System is available as part of an optional package. The base-model LE trim has a set of 15-inch alloy wheels. XSE models get 18-inch machined-aluminum wheels and XSE Apex Editions have 18-inch black, flow-formed aluminum wheels.

The top trims also offer heated exterior mirrors. A power moon-roof is available for the XSE and XSE Apex Edition. All models come equipped with variable intermittent windshield wipers.

Interior Features

On the inside, the higher trim levels get 8-way power seats with lumbar support. There's also available heating for the seats up front. Sedan versions of the Corolla have a 60/40 split fold-down seat in the rear. All models get power locks with an auto-lock feature. They also all get power windows with a one-touch, up-and-down feature.

Toyota's Smart Key System, along with push-button start and remote keyless entry, are all standard features across trim levels. There's a center console with a storage compartment. There are four cup holders with a pair in front and a pair in back. There are also USB 2.0 ports in front and back so that everyone can charge their smartphones and other devices.

The sun visors all get vanity mirrors. There are map lights up front. All trims come with automatic climate control and an air filter that removes dust and pollen from the interior of the car. The XSE and XSE Apex get a leather-wrapped steering wheel with paddle shifters. Ambient interior lighting is also available to set just the right mood inside of the Corolla.

The Corolla's multimedia system has an 8-inch touchscreen display. Most models have a 6-speaker system for the audio. A 9-speaker system by JBL is also offered for the serious music fans. The upgraded audio system also comes with a subwoofer and an amplifier for amazing bass sounds and volume. The multimedia system for all trims is compatible with both Apple CarPlay and Android Auto.

Safety Features

Toyota's Safety Sense technology includes high-tech features to keep the driver and all of the passengers safe. It includes a Pre-Collision Alert, Pedestrian Detection and Lane-Departure Alert with Steering Assist to get the car back on track. Toyota's Star Safety System includes features such as Traction Control and Vehicle Stability Control. A Blind-Spot Monitor with Rear Cross-Traffic Alert is also available.

The 2022 Toyota Corolla is a fantastic, affordable car. Its low starting price and long list of standard features makes the Corolla a great value.

Note: All Toyota Corolla MSRP, invoice and dealer cost dollar figures above are subject to change without notice.

A note about rebates: Most rebates are subtracted from the "on the road" figure. In most cases, you can have the rebate if you are arranging your own financing or you are paying cash. If you decide to use the manufacturer’s low interest financing, you do not usually get the rebate. Ask your dealer for details.