Used 2016 Toyota Corolla for Sale nearWaterloo, ON

How much does the 2016 Toyota Corolla cost?

Prices have softened 5.54% compared to this time last year, making it a favourable time to shop this model year.

There are 255 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 4.7/5 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 and as having a more luxurious feel than you might expect for the price. For shoppers who want an affordable small car that covers the essentials, the overview frames it as a practical economy car with strong value appeal.

Only 27.8% of listings are priced as good or great deals, so the best examples may move quickly.

Is the 2016 Toyota Corolla reliable?

Owners rate it 4.7/5, a strong signal of long-term satisfaction.

The owner feedback repeatedly describes the Corolla as reliable and dependable, and it also points to trouble-free day-to-day use for many drivers. The expert assessment reinforces that theme by describing it as a spacious, cost-effective compact sedan that will provide reliable daily driving for years, if not decades to come. The cost-effectiveness notes also underline its value-focused ownership case, which can help reduce long-term regret if you buy a clean example.

For used buyers, the main ownership risk is less about outright durability and more about whether the car has the features and transmission setup you want.

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 the touchscreen, heated front seats, standard air conditioning, remote keyless entry, a rearview camera, and premium fabric. The S adds a unique grille with 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 the price as high as the S.
• Powertrain: The Corolla uses a 1.8-litre inline four-cylinder engine. Most versions make 132 horsepower and 128 pound-feet of torque, while the LE Eco uses Valvematic technology and other mechanical tweaks to reach 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. Higher-end driver-assistance features such as forward-collision warning, lane-departure warning, blind-spot monitoring, and adaptive cruise control are not offered.
• Infotainment: The base car uses a conventional touchscreen and controls layout, while the LE gets a 6.1-inch touchscreen infotainment setup. Toyota’s Entune app suite is included, voice control is comprehensive, and Siri Eyes Free is available when paired with a Bluetooth-connected iPhone. Apple CarPlay and Android Auto are not offered.
• Fuel efficiency: The CVT-equipped Corolla is rated at 8.2 L/100 km city, 6.2 highway, and 7.3 combined. The base 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 entry point, and it gives you the essentials at the lowest price. It comes with Bluetooth, USB input, LED headlights, 15-inch steel wheels, and eight airbags, so it suits you if you want the most affordable Corolla and can live without the touchscreen and extra convenience 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. If you want the Corolla’s core strengths with the most useful upgrades, this is the one to target.
• LE Eco: Choose this if fuel economy is your top priority. It uses the same 1.8-litre engine with efficiency-focused mechanical changes and standard automatic climate control, making it the most efficiency-minded version in the lineup.
• S: This trim is for you if you want the sportier look and extra equipment. It adds the unique grille, fog lights, leather-wrapped steering wheel, available 17-inch alloy wheels, and rear spoiler, but it is priced higher than the LE.

The safety package is standard across the lineup, but the touchscreen-equipped models are the ones that add the backup camera.

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

This is a moderate market for selective buyers, with enough inventory to compare options and enough price softness to reward patience.

• Deal availability: 27.8% of listings are priced as good or great deals.
• Inventory: There are 255 listings available.
• Price trend: Prices have softened 5.54% 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 $14,540 CAD sits slightly below last year's $15,394 CAD.

That price movement suggests the Corolla has become a bit more buyer-friendly in the used market, which can make it easier for future sellers to compete on value. If prices stay soft, resale gains may be limited in the short term, especially for higher-mileage examples or cars without desirable equipment. Still, the Corolla’s reputation for value and efficiency should help it remain broadly appealing to budget-conscious shoppers.

Vehicles with strong owner satisfaction ratings, like this model year's 4.7/5, 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, antilock brakes, and more. Models equipped with the touchscreen also have an integrated backup camera. The Corolla’s upright driving position also helps rearward visibility and sightlines, which can reduce blind spots.

The main caveat is that it lacks many of the advanced driver-assistance features that were becoming more common in the small-car segment at the time, including forward-collision warning, lane-departure warning, blind-spot monitoring, and 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:

• 27.8% of listings are priced as good or great deals.
• Price trend: Prices have softened 5.54% compared with last year.
• Owners rate it 4.7/5 — a strong satisfaction signal.
• It combines strong value, fuel efficiency, and a practical feature set in a well-priced compact sedan.

Consider the 2015 if:

• At $12,497 CAD, the 2015 costs less than the current year's $14,540 CAD average.
• It is a sensible, reliable compact car with a bit of style and an easygoing personality.

The bottom line: If you want the stronger overall value case and are comfortable paying a bit more, the 2016 is the better pick. If your priority is the lowest purchase price and you mainly want dependable transportation, the 2015 is the more budget-friendly path.

How does the 2016 Toyota Corolla compare to the 2016 Honda Civic?

Our experts score the 2016 Toyota Corolla 7.5/10 and the 2016 Honda Civic 8/10. The Corolla leans harder into value, fuel economy, and straightforward ownership, while the Civic brings more power and a stronger overall expert score. If you want the cheaper used price and a simpler, practical small car, the Corolla makes sense; if you want the more refined and better-equipped choice, the Civic has the edge.

These recommendations are based on CarGurus' proprietary market data from October 27, 2026, CarGurus experts' opinions, and generative AI.