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By Zack Spencer (November 19, 2009)

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The Corolla is the one car on the planet that is synonyms with quality. It is so beloved by owners that it can stay in the family for years. It's a great used car with a strong resale value.

The Corolla is not known for being flashy. It's more about basic transportation for the masses, the same way the VW beetle was in the 60s. The small and efficient engines are not that dynamic but they offer good fuel consumption. Newer models have competition from respectable makers like Honda, Hyundai and Kia but the Corolla is money in the bank when it comes to reliability.

Our online check shows that prices of used 2006 Toyota Corollas range from $10,000-$15,000 depending on mileage, features and condition. Back in 2006 the Corolla started at $15,000 and topped out at $24,000. Since these vehicles usually sell in the low end of the price range when new, they hold up remarkably well.

JD Power rates the Corolla with 5/5 for initial quality and 4/5 for three-year dependability.

Some things to look for: Check engine lights that report problems with mass air flow sensor and emissions. Other things to note, the battery might drain due to faulty headlight switch and suspension noise.