Used 2016 Toyota Corolla for Sale nearPeterborough, ON

How much does the 2016 Toyota Corolla cost?

Prices have softened 4.73% compared to this time last year, making it a favourable time to shop this model year.

There are 254 listings available, which suggests you should have a reasonable amount of inventory to compare.

Is the 2016 Toyota Corolla a good car?

Yes — the 2016 Toyota Corolla earns a 4.67/5 user rating and a 7.5/10 expert rating. The standout strength is Cost effectiveness at 9/10.

Owners consistently praise its fuel efficiency, smooth ride, and value for money. The Corolla is also described as comfortable, with a more luxurious feel than you might expect for the price. For shoppers who want a practical economy car that focuses on everyday usefulness rather than flash, that combination fits the Corolla’s role well.

There are 28.0% of listings priced as good or great deals, which points to a market with some worthwhile opportunities.

Is the 2016 Toyota Corolla reliable?

Owners rate it 4.67/5, a strong signal of long-term satisfaction.

User feedback describes the Corolla as reliable and dependable, and it is also framed as a car that can provide reliable daily driving for years, if not decades to come. The expert assessment reinforces that long-term, practical character by emphasising cost effectiveness and everyday usefulness.

For used buyers, the main ownership risk is less about outright durability and more about whether the car’s equipment and transmission behaviour match your expectations over time.

What should I look for when buying a used 2016 Toyota Corolla?

Key things to evaluate:

• Trim level: The CE is the most basic version, while the LE adds a touchscreen, heated front seats, standard air conditioning, remote keyless entry, a rearview camera, and premium fabric. The S adds a more distinctive look with a unique grille, integrated fog lights, a leather-wrapped steering wheel, available 17-inch alloy wheels, and a rear spoiler. If you want the best value, the LE is the trim that adds the most everyday convenience without pushing too far up the price ladder.
• Powertrain: The Corolla uses a 1.8-litre inline four-cylinder. Most versions make 132 horsepower and 128 pound-feet of torque, while the LE Eco uses Valvematic technology and other mechanical tweaks for 140 hp and 126 lb-ft of torque. The CE can be had with a six-speed manual or four-speed automatic, while the LE and LE Eco use a CVT.
• Safety package: Every Corolla features the Star Safety System, which includes eight standard airbags, vehicle stability control, traction control, and antilock brakes. Models with the touchscreen also get an integrated backup camera. The Corolla does not offer forward-collision warning, lane-departure warning, blind-spot monitoring, or adaptive cruise control.
• Infotainment: The LE gets a 6.1-inch touchscreen infotainment setup with easy-to-use controls, Entune apps, voice control, and Siri Eyes Free when paired with a Bluetooth-connected iPhone. Toyota does not offer Apple CarPlay or Android Auto.
• Fuel efficiency: The CVT-equipped model is rated at 8.2 L/100 km city, 6.2 highway, and 7.3 combined. The CE with the four-speed automatic uses 8.6 L/100 km city, 6.5 highway, and 7.6 combined, while six-speed manual versions return 8.4 city, 6.4 highway, and 7.5 combined. The LE Eco is the most efficient at 7.7 city, 5.6 highway, and 6.8 combined.

Which 2016 Toyota Corolla trim should I buy?

The 2016 Toyota Corolla is offered in 4 trim levels: CE, LE, LE Eco, and S.

Here's the short version:

• CE: This is the entry point, and it gives you the Corolla’s core value proposition with Bluetooth, USB input, LED headlights, 15-inch steel wheels, and eight airbags. It suits you if you want the lowest-cost way into the model and do not need the touchscreen or extra comfort features.
• LE: This is the best-value trim for most shoppers because it adds the 6.1-inch touchscreen, heated front seats, standard air conditioning, remote keyless entry, a rearview camera, and premium fabric. It is the trim that most clearly balances price and everyday convenience.
• LE Eco: Choose this if fuel efficiency is your top priority. It brings the most efficient version of the Corolla’s powertrain and standard automatic climate control.
• S: This trim is for you if you want the Corolla’s sportier appearance and a few extra style touches, including the unique grille, fog lights, leather-wrapped steering wheel, available 17-inch alloy wheels, and rear spoiler.

The touchscreen-equipped models also include an integrated backup camera, while the Corolla does not offer several advanced driver-assistance features found in some rivals.

Is now a good time to buy a used 2016 Toyota Corolla?

This is a moderate market for selective buyers, with enough inventory to shop carefully and enough deal activity to make comparison worthwhile.

• Deal availability: 28.0% of listings are priced as good or great deals.
• Inventory: There are 254 listings available.
• Price trend: Prices have softened 4.73% compared with last year.

If you find a listing below $14,267 CAD, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2016 Toyota Corolla's resale value?

The current average of $14,570 CAD sits slightly below last year's $15,293 CAD.

That softer pricing can be a mixed signal for future resale. On one hand, it may give you a better entry point today. On the other, it suggests the market has already adjusted downward, which can limit upside if you plan to sell soon.

Even so, the Corolla’s reputation for value, reliability, and fuel efficiency should help keep demand steady among practical shoppers. A model with broad appeal and strong owner satisfaction usually remains easier to move than a less proven alternative.

Vehicles with strong owner satisfaction ratings, like this model year's 4.67/5, tend to retain buyer demand, which supports resale value over time.

Is the 2016 Toyota Corolla safe?

The 2016 Toyota Corolla features the Star Safety System, and it includes eight standard airbags, vehicle stability control, traction control, antilock brakes, and more.

It earns a 7/10 safety score from our experts.

Models equipped with the touchscreen also have an integrated backup camera. The Corolla does not offer forward-collision warning, lane-departure warning, blind-spot monitoring, or adaptive cruise control, so you should not expect the more advanced driver-assistance coverage that some rivals provide.

Should I buy a 2016 Toyota Corolla or consider a different year?

If you're weighing the 2016 against nearby model years, here's how to think about it:

Choose the 2016 if:

• 28.0% of listings are priced as good or great deals.
• Price trend: Prices have softened 4.73% compared with last year.
• Owners rate it 4.67/5 — a strong satisfaction signal.
• It delivers strong value, fuel efficiency, and a practical feature set for everyday commuting.

Consider the 2015 if:

• At $12,763 CAD, the 2015 costs less than the current year's $14,570 CAD average.
• It is a sensible, reliable compact car with a more restrained personality.

The bottom line: If you want the stronger all-around value proposition, the 2016 is the better target because it combines solid owner satisfaction, softened pricing, and broad everyday appeal. If your priority is spending less up front, the 2015 is the better budget-focused alternative.

These recommendations are based on CarGurus' proprietary market data from September 29, 2026, CarGurus experts' opinions, and generative AI.