I have a 99....don't know what year you're thinking of. The new ones are quite nice also, and I absolutely love mine. Not necessarily the most badass car, but mine rarely breaks down, gets good gas mileage, and is comfortable, so good enough
We have a 2008 one I believe. Gets very good gas mileage (like 38 mpg on the highway), haven't had any problems yet, gets the job done I guess. Not as comfortable as a Ford or Chevy but it is definitely a much better car that will last.
The nice thing about the Toyota Corolla is that as long as you do the gereral stuff like change the oil etc...the thing will run forever. They are really safe and great on gas. I have one I use just to commute with and park my truck. I have more fun driving the corolla then my truck..lol.