Malaise Miser: 1978 Toyota Corolla – NOW $7,000
May 3, 2021 Update – The private seller of this 1978 Toyota Corolla we first featured in April just post a fresh listing that includes a revised asking price of $7,000.
Toyota Corollas are not usually the sort of car awarded “Collector Car” status, however, given the notoriously poor rust-prone quality of Japanese steel in the 1970s, it’s a rare sight to come across a nice survivor E30 generation such as this 1978 two-door sedan example currently listed here on Craigslist in Oberlin, Ohio (Cleveland) featuring a recently rebuilt engine and offered at $7,500 currently. The asking price falls between the Collector Car Market Review Online Tool’s #2 “Very Good” estimate of $6,300 and its #1 “Excellent appraisal of $9,325.
Toyota’s E30 Corolla was the third generation of the brand’s entry-level car produced from 1974 through 1978. With inflation driving higher gas prices and no domestic cars offering very good fuel economy at a low price, Toyota achieved its greatest growth in the U.S. with this car.
Road & Track was critical of this generation of Corolla, calling it “large and heavy” and “expensive” compared to the Honda Civic and Datsun B210 of the period. They also criticized the “relatively crude rear suspension”, lack of interior space, and poor fuel economy when compared to the VW Rabbit. Emissions became a problem further into the 1970s especially with the 3K engine, which became popular because of its low fuel consumption.
This 1978 Toyota Corolla commercial currently featured on the Adpocolypse YouTube Channel highlights how top-of-mind fuel economy was for many consumers in the late 1970s:
With a nicely restored interior, freshly rebuilt and mildly warmed-over motor, and a modern radio, this Corolla represents an economical way to enjoy the Collector Car hobby. Just make sure you address the indicated minor wheel well rust before it gets out of hand. Good luck with the purchase!
Here’s the seller’s description:
I am selling my 1978 Toyota Corolla. It has the original I4 1.6L motor (2TC) just fully rebuilt this winter. The car is equipped with dual weber 40 DCOE carburetors. I had both carbs fully rebuilt by Custom Rebuilt Carburetors of New Jersey last year. The car runs beautifully and drives very nicely. It has a new bluetooth audio system. Interior is mint. Paint is in good shape. A bit of rust by the wheel wells.
Message me if you are interested
Show or go: what would you do with this E30 Corolla? Comment below and let us know!