Used 2016 Toyota Corolla for Sale near Prince Edward Island

How much does the 2016 Toyota Corolla cost?

Prices have softened 5.06% compared to this time last year, making it a favourable time to shop this model year.

There are 257 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 at this price point, and it fits well if you want an affordable small car that covers the essentials without pushing the budget too far. That said, it is not the most feature-rich choice in the class, so it suits you best if practicality and value matter more than gadget count.

With 25.3% of listings priced as good or great deals, the market still offers some attractive 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, with owners also pointing to its fuel efficiency and trouble-free everyday use. The expert assessment reinforces that it is built for reliable daily driving for years, if not decades, and the cost-effectiveness commentary highlights its value-focused ownership proposition. If you are shopping used, the main long-term ownership risk to watch is the CVT concern mentioned by some owners.

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 seats. The S brings a unique grille with integrated fog lights, a leather-wrapped steering wheel, available 17-inch alloy wheels, and a rear spoiler.
• 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 have a six-speed manual or four-speed automatic, the LE and LE Eco use a CVT, and the S comes standard with a six-speed manual with an optional CVT.
• Safety package: Every Corolla includes the Star Safety System, with 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 base model has a conventional touchscreen and controls layout. The LE gets a 6.1-inch touchscreen infotainment setup, Entune apps, comprehensive 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 Corolla is rated at 8.2 L/100 km in the city, 6.2 on the highway, and 7.3 combined. The CE with the four-speed automatic uses 8.6 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 value-first entry point if you want the Corolla’s core strengths at the lowest price, including Bluetooth, USB input, LED headlights, 15-inch steel wheels, and eight airbags.
• 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 without jumping too far in price.
• LE Eco: Choose this if fuel efficiency is your top priority, since it is the most efficient Corolla in the lineup and also gets standard automatic climate control.
• S: This is the style-focused choice, with the unique grille, fog lights, leather-wrapped steering wheel, available 17-inch alloy wheels, and rear spoiler. It also offers the S Technology Package with satellite radio and built-in navigation.

Every Corolla includes the Star Safety System, and touchscreen-equipped models add an integrated backup camera.

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

This looks like a moderate, selective buyer’s market, so you can shop patiently but still move quickly on the right car.

• Deal availability: 25.3% of listings are priced as good or great deals.
• Inventory: There are 257 listings available.
• Price trend: Prices have softened 5.06% compared with last year.

If you find a listing below $14,272 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 $14,604 CAD sits slightly below last year's $15,382 CAD.

That softer pricing can help you if you are buying now, but it also means future resale upside may be more limited if the market stays soft. For a seller, the current trend suggests you may need to price competitively to stand out, especially with a decent amount of inventory available. On the other hand, the Corolla’s value reputation and strong owner satisfaction should help keep demand steady.

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 earns a 7/10 safety score from our experts.

Every 2016 Toyota Corolla features the Star Safety System, which includes eight standard airbags, vehicle stability control, traction control, and antilock brakes. Models equipped with the touchscreen also have an integrated backup camera. The Corolla’s upright driving position also helps rearward visibility and sightlines, but it does not offer forward-collision warning, lane-departure warning, blind-spot monitoring, or adaptive cruise control.

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:

• 25.3% of listings are priced as good or great deals.
• Price trend: Prices have softened 5.06% 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 budget-minded shoppers.

Consider the 2015 if:

• At $12,624 CAD, the 2015 costs less than the current year's $14,604 CAD average.
• It is a sensible, reliable compact car with a bit of style and easygoing daily-driver appeal.

The bottom line: If you want the stronger overall value proposition and are comfortable paying a bit more, the 2016 is the better all-around pick. If your priority is the lowest purchase price and you still want a dependable, sensible Corolla, the 2015 is the cheaper alternative worth considering.

These recommendations are based on CarGurus' proprietary market data from October 6, 2026, CarGurus experts' opinions, and generative AI.