I love this car. For the last several years, I was driving a classic American Land Yacht (1989 Mercury Grand Marquis). When gas was over $4.00 per gallon, life sucked. Although it lasted far beyond it's planned obsolescence (187,000 miles), I was making monthly payments in parts and labor and it was not sustainable. The Corolla is about half the size of my previous car. I was initially worried about giving up all that V8 power, but was amazed at how peppy it is. One would not be winning any drag races with it, but it has plenty of power to get out of emergency situations. I've been averaging 26 MPG in city traffic in Atlanta, which is outstanding. It looks good, it is very comfortable and it is a Toyota, so I know that it will last a very long time. One surprise was that, being an LE, it came with an upgraded JBL stereo system with a 6 CD changer, which I love. I'm very happy.
I only owned my Corolla for about 2 months. It averaged 31mpg in overall driving. Before buying I drove comparable models by Mitsubishi, Honda, Ford, and Chevy. No contest, the Corolla was more car for the money than any ot the others. My relationship with my Corolla was suddenly cut short when I was rear-ended by a Ford F250. I was stopped behind 4 other cars, waiting for a school bus to load. The driver of the pickup was not paying attention and didn't see that the traffic was not moving. He hit me at 50mph. The impact totalled the Corolla, but I walked away from the accident with only whiplash injury to my neck and back. Granted, if there had been passengers in the rear seats, they might have had more serious injuries, but I use mine as a commuter vehicle and rarely carry passengers. I have seen other cars take a hit like that and not do as well. I highly recommend Corolla as a safe small car.
I bought 2006 Toyota Corolla in August 2006 as New. Driven 8000 miles for the last one year and so far no troubles. I drive only 5 miles To and From work on weekdays and all other driving is leisure over weekends. I found this is a good car if you don't need lot of power and looking for a good basic car that gets you to places. I found car is not that great for very long tirps, as I have experienced car swaying in highways with winds over 40 MPH and also I don't get the very stable feeling when I drive over 80, compared to other larger cars (obviously I can't expect more from this little car). After those experiences I am now hiring a bigger car whenever I want to drive over 500 miles within a day or so. I feel my corolla has been a good choice for me at $16000 dollar lower price given that I would have paid over 20000 if I am select a biggger car with power which I will not be using mostly. So overall this is good car for basic needs