My front brake rotors warped after violent panic stop in 100 degree weather. I've had no other problems.
Reliability.
This is my third Toyota Corolla, so I know these cars well. They're reliable and fun to drive. My first Corolla had nearly 300,000 miles on the original engine, and ran beautifully.
Performance.
The handling is great, and the gas mileage is excellent (average 42mpg highway), even when driven hard. The manual transmission allows you to make full use of the 1.8 liter VVTi engine. First-time passengers often ask if the engine is a V6. Power is good across the board.. stomping the gas sends heads into the head-rests, even at speeds near 100 mph.
Safety.
I've never wrecked my car, but I was in a 60 mph wreck with my previous Corolla, and when all was said and done, I walked away without a scratch (the engine was still running). The Corolla is rated very well for safety.
Styling.
The styling leaves a little to be desired, but if you want style, buy a Celica. TRD offers some mods that help the looks. Some of my friends mocked my purchase of a Corolla, until I let them drive it. Now they want one of their own! The styling isn't a concern.
Corolla is one of the top sellers in its class. Guess why? Everything is good about it. You may argue that the looks is too dull. The secret why Corolla looks so "average" is that it has to satisfy the average taste. And in turn, satisfying the average taste makes the Corolla the top-seller among the masses.
I like my Corolla troubles? None. I am 82 years old, I drove in those years about 35 cars, but the one I liked the most is my Corolla. Great gasoline mileage, almost none problems, right now my mileage is 105.000 and engine and everything else work beautifully. I will not change this car for any other car, it is a 2000 model and every one think that is a 2007 because the way it looks. Keep changing the oil, clean the car every day and you will have a treasure in your hand. Viva la Corolla.