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!

Corolla Gas RatesLLESELE UpgradeSE UpgradeXLEXSEApex
MSRP Price$21,250$22,250$23,750$24,250$26,730$27,550$29,050$28,060
Estimated All-in Price*$26,648$27,768$29,448$30,008$32,786$33,704$35,384$34,880
Finance ratesLLESELE UpgradeSE UpgradeXLEXSEApex
3 year term2.49%2.49%2.49%2.49%2.49%2.49%2.49%2.49%
4 year term2.99%2.99%2.99%2.99%2.99%2.99%2.99%2.99%
5 year term3.29%3.29%3.29%3.29%3.29%3.29%3.29%3.29%
6 year term3.39%3.39%3.39%3.39%3.39%3.39%3.39%3.39%
7 year term3.39%3.39%3.39%3.39%3.39%3.39%3.39%3.39%
*Based on rate from MAY 2022
3 year finance w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEApex
Monthly Payment$769$801$850$866$946$973$1,021$1,007
Bi-weekly Payment$355$370$392$400$437$449$471$465
Payment reduction (per $1k downpayment)$29$29$29$29$29$29$29$29
Cost of borrowing (Annual)$345$360$381$389$425$437$458$452
4 year finance w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEApex
Monthly Payment$590$615$652$664$726$746$783$772
Bi-weekly Payment$272$284$301$306$335$344$361$356
Monthly Payment: Reduction per $1k down$22$22$22$22$22$22$22$22
Cost of borrowing (Annual)$415$432$458$467$510$524$550$543
5 year finance w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEApex
Monthly Payment$482$503$533$543$593$610$640$631
Bi-weekly Payment$223$232$246$251$274$282$296$291
Monthly Payment: Reduction per $1k down$18$18$18$18$18$18$18$18
Cost of borrowing (Annual)$458$477$506$515$563$579$608$599
6 year finance w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEApex
Monthly Payment$410$427$453$461$504$518$544$536
Bi-weekly Payment$189$197$209$213$233$239$251$247
Monthly Payment: Reduction per $1k down$15$15$15$15$15$15$15$15
Cost of borrowing (Annual)$473$493$523$533$582$599$628$619
7 year finance w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEApex
Monthly Payment$357$372$394$402$439$451$474$467
Bi-weekly Payment$165$172$182$185$203$208$219$216
Monthly Payment: Reduction per $1k down$13$13$13$13$13$13$13$13
Cost of borrowing (Annual)$475$495$525$535$584$601$631$622

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.

Corolla Gas RatesLLESELE UpgradeSE UpgradeXLEXSEXSE
2 year term2.99%2.99%2.99%2.99%2.99%2.99%2.99%2.99%
3 year term2.99%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%
5 year term3.99%3.99%3.99%3.99%3.99%3.99%3.99%3.99%
*Based on rate from MAY 2022
Security Deposit (Max amount)$3,000$3,000$3,000$3,000$3,000$3,000$3,000$3,000
2 year lease w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEXSE
Monthly Payment$530$549$567$598$646$675$691$683
Bi-weekly Payment$244$253$261$276$298$311$319$315
Monthly Payment: Reduction per $1k down$48$48$48$48$48$48$48$48
Cost of borrowing (Annual)$647$590$221$766$654$945$549$577
Lease end buyout value$13,600$14,089$14,548$15,350$16,593$17,324$17,756$17,538
3 year lease w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEXSE
Monthly Payment$415$430$447$469$508$529$545$538
Bi-weekly Payment$191$199$206$216$234$244$251$248
Monthly Payment: Reduction per $1k down$32$32$32$32$32$32$32$32
Cost of borrowing (Annual)$616$599$412$730$705$884$681$695
Lease end buyout value$12,113$12,567$13,042$13,686$14,834$15,453$15,908$15,712
4 year lease w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEXSE
Monthly Payment$364$379$395$412$448$465$481$474
Bi-weekly Payment$168$175$182$190$207$215$222$219
Monthly Payment: Reduction per $1k down$25$25$25$25$25$25$25$25
Cost of borrowing (Annual)$686$690$593$805$827$955$847$837
Lease end buyout value$10,625$11,036$11,502$12,012$13,047$13,564$14,016$13,820
5 year lease w/ $0 downLLESELE UpgradeSE UpgradeXLEXSEXSE
Monthly Payment$336$349$365$380$414$429$445$439
Bi-weekly Payment$155$161$169$175$191$198$205$203
Monthly Payment: Reduction per $1k down$21$21$21$21$21$21$21$21
Cost of borrowing (Annual)$751$768$720$875$924$1,024$970$965
Estimated Buyout Value$9,138$9,500$9,933$10,334$11,243$11,669$12,093$11,934
w/ Max. Security Deposit AddedLLESELE UpgradeSE UpgradeXLEXSEXSE
2 year - Monthly Payment$504$522$538$569$614$642$657$649
2 year - Bi-weekly Payment$232$241$248$262$283$296$303$300
Full Term Savings$622$649$695$700$767$785$830$816
3 year - Monthly Payment$389$403$418$439$476$496$510$504
3 year - Bi-weekly Payment$179$186$193$203$220$229$235$233
Full Term Savings$933$974$1,042$1,050$1,151$1,177$1,245$1,224
4 year - Monthly Payment$339$351$366$383$416$433$446$440
4 year - Bi-weekly Payment$156$162$169$177$192$200$206$203
Full Term Savings$1,245$1,298$1,389$1,400$1,534$1,569$1,660$1,632
5 year - Monthly Payment$310$322$336$351$382$397$410$405
5 year - Bi-weekly Payment$143$149$155$162$176$183$189$187
Full Term Savings$1,556$1,623$1,736$1,750$1,918$1,961$2,075$2,040
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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