2022 Toyota Corolla Prices

Rates and payment breakdown for leasing, finance or cash

The Toyota Corolla has been on the road for decades and is still a success story. The 12th-generation model features an angular, hard-edged modern appearance that will make you want one immediately!

Apple CarPlay or Android Auto are standard features, and it has a contemporary design. Before you buy, compare the trims and features to our 2022 Toyota Corolla Trim Levels Guide.

Finance has a number of financing and leasing options to meet your unique needs. To discover the best one for you, check out the costs and estimated pricing below.

Please note the following about the payment and pricing on this page before you continue:

  • This table includes a document fee of $598 plus tax, which is not included on Toyota’s website. Actual pricing may vary depending on the dealer’s fees and costs. For reference, BC-based taxes have been added.
  • Pricing information is collected from the Toyota Canada website for the time period displayed at the bottom of the table. Rates and pricing is for reference purposes and pricing or rates may change without notice.
  • Always check with Toyota Canada for the most up-to-date information in the event of a discrepancy.

Please see the guide below for leasing, finance or cash prices for this vehicle.

Cash & Financing Breakdown

The Toyota Corolla is a 5-seat sedan that will suit any event. The table below shows you the price ranges for each type of vehicle, so be sure to take your pick!

VEHICLE PricingLLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
MSRP Price$21,250$22,190$23,690$24,190$26,670$27,450$27,805$28,540$29,305
Estimated All-in Price*$26,503$27,556$29,236$29,796$32,573$33,447$33,844$34,668$35,524
Finance ratesLLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
3 year term2.99%2.99%2.99%2.99%2.99%2.99%2.99%2.99%2.99%
4 year term3.49%3.49%3.49%3.49%3.49%3.49%3.49%3.49%3.49%
5 year term3.69%3.69%3.69%3.69%3.69%3.69%3.69%3.69%3.69%
6 year term3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%
7 year term3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%3.79%
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
3 year finance w/ $0 down (monthly)$771$801$850$866$947$973$976$1,008$1,033
Payment reduction (per $1k downpayment)$29.1$29.1$29.1$29.1$29.1$29.1$29.1$29.1$29.1
Cost of borrowing (Annual)$413$430$456$464$508$521$428$540$554
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
4 year finance w/ $0 down (monthly)$592$616$653$666$728$748$750$775$794
Payment reduction (per $1k downpayment)$22.4$22.4$22.4$22.4$22.3$22.4$22.4$22.4$22.4
Cost of borrowing (Annual)$483$502$533$543$593$609$540$632$647
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
5 year finance w/ $0 down (monthly)$484$504$534$545$595$611$613$634$649
Payment reduction (per $1k downpayment)$18.3$18.3$18.3$18.3$18.3$18.3$18.3$18.3$18.3
Cost of borrowing (Annual)$512$532$565$576$629$646$591$670$686
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
6 year finance w/ $0 down (monthly)$412$428$455$463$507$520$522$539$552
Payment reduction (per $1k downpayment)$15.6$15.6$15.6$15.6$15.6$15.6$15.6$15.6$15.6
Cost of borrowing (Annual)$528$549$583$594$649$667$621$691$708
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
7 year finance w/ $0 down (monthly)$360$374$397$404$442$454$455$471$482
Payment reduction (per $1k downpayment)$13.6$13.6$13.6$13.6$13.6$13.6$13.6$13.6$13.6
Cost of borrowing (Annual)$530$551$585$596$652$669$631$694$711

How to calculate payment with downpayment included?

The ‘Payment reduction (per $1k downpayment)’ amount is included for this purpose. To give you an example, let’s say you are looking a 5-year lease and the payment is listed in the table like this:

Payment w/ $0 down – $677

Reduction per $1k down – $21.4

This shows you that the payment for 5 years is $677 per month. If you put down a $1,000 deposit, the cost will be reduced by $21.40, resulting in a monthly price of $655.60.

You can simply increase the amount if you want to add more. For example, $5k down payment amounts to $21.40×5, which equals $107. In this case, the monthly payment is $507 with a $5k downpayment on a 5-year lease.

Cost of Borrowing: What is this?

This is how much money you pay based on the stated interest rate. The amount is determined by adding up all of the monthly payments and then adding them to the lease end value with tax included, then subtracting this sum from the all-in full cash total. The monthly leasing cost is typically higher when you opt for a longer lease term or if the lease rate is high.

Leasing Payment Breakdown

The 2022 Toyota Corolla is a great car with many safety features, and it has an awesome drive! With this information, you can figure out how much your payments will be for the vehicle.

VEHICLE Lease ratesLLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
2 year term3.49%3.49%3.49%3.49%3.49%3.49%3.49%3.49%3.49%
3 year term3.49%3.49%3.49%3.49%3.49%3.49%3.49%3.49%3.49%
4 year term3.99%3.99%3.99%3.99%3.99%3.99%3.99%3.99%3.99%
5 year term4.49%4.49%4.49%4.49%4.49%4.49%4.49%4.49%4.49%
Security Deposit (Max amount)$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
2 year lease w/ $0 down (monthly)$522$540$558$589$637$652$667$673$688
Payment reduction (per $1k downpayment)$48.2$48.3$48.2$48.2$48.3$48.2$48.2$48.2$48.3
Cost of borrowing (Annual)$749$779$831$838$917$941$796$976$1,000
Lease end buyout value$13,813$14,424$15,635$15,482$17,069$17,568$17,357$18,266$18,755
Savings w/ Security Deposit Added (full term)$624$650$695$700$768$789$787$819$840
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
3 year lease w/ $0 down (monthly)$412$427$444$465$505$517$527$535$547
Payment reduction (per $1k downpayment)$32.7$32.7$32.7$32.7$32.7$32.7$32.7$32.7$32.7
Cost of borrowing (Annual)$715$744$795$801$877$900$803$934$957
Lease end buyout value$12,325$12,870$13,977$13,788$15,202$15,647$15,428$16,268$16,704
Savings w/ Security Deposit Added (full term)$904$941$1,006$1,014$1,112$1,143$1,139$1,186$1,216
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
4 year lease w/ $0 down (monthly)$364$378$394$412$447$459$466$474$485
Payment reduction (per $1k downpayment)$25.2$25.2$25.2$25.2$25.2$25.2$25.2$25.2$25.2
Cost of borrowing (Annual)$783$814$870$876$959$985$911$1,022$1,047
Lease end buyout value$10,838$11,317$12,319$12,095$13,335$13,725$13,500$14,270$14,653
Savings w/ Security Deposit Added (full term)$1,164$1,212$1,296$1,305$1,430$1,470$1,466$1,525$1,564
LLESELE UpgradeSE UpgradeNightshadeXLEApexXSE
5 year lease w/ $0 down (monthly)$338$350$367$381$415$426$432$441$451
Payment reduction (per $1k downpayment)$20.8$20.8$20.8$20.8$20.8$20.8$20.8$20.8$20.8
Cost of borrowing (Annual)$845$879$939$946$1,035$1,064$1,003$1,103$1,130
Lease end buyout value$9,350$9,764$10,661$10,402$11,468$11,804$11,571$12,272$12,601
Savings w/ Security Deposit Added (full term)$1,408$1,465$1,565$1,578$1,728$1,775$1,771$1,842$1,888
How to calculate payment with downpayment included?

The ‘Payment reduction (per $1k downpayment)’ amount is included for this purpose. To give you an example, let’s say you are looking a 5-year lease and the payment is listed in the table like this:

Payment w/ $0 down – $677

Reduction per $1k down – $21.4

This shows you that the payment for 5 years is $677 per month. If you put down a $1,000 deposit, the cost will be reduced by $21.40, resulting in a monthly price of $655.60.

You can simply increase the amount if you want to add more. For example, $5k down payment amounts to $21.40×5, which equals $107. In this case, the monthly payment is $507 with a $5k downpayment on a 5-year lease.

Lease end value: What is this?

You have the option to purchase out the vehicle at the end of your lease. To gain complete ownership of the car, you must pay the ‘lease end value’ to take ownership of it. Remember that this amount is taxable and that dealerships may charge additional fees to execute this procedure.

Security Deposit: What is this?

To lower the interest rate, you may add a Security Deposit when you lease a car. Doing so, the interest rate will be reduced by up to 1.5%. You can see the total accumulated amount of money you will end up SAVING when a security deposit is added with the lease.

The maximum amount stipulated in the table can be adjusted to be less, but providing a lesser amount will affect the rate reduction. The deposit is, in the end, simply a deposit, and the full amount of money is returned to you at the conclusion of your lease term.

Cost of Borrowing: What is this?

This is how much money you pay based on the stated interest rate. The amount is determined by adding up all of the monthly payments and then adding them to the lease end value with tax included, then subtracting this sum from the all-in full cash total. The monthly leasing cost is typically higher when you opt for a longer lease term or if the lease rate is high.

See our breakdown of the trims and features on this:

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