I have been looking to buy a new car for some time now but nothing shows the reliability that the 1996 corolla does. My car has almost 170,000 miles on it and it has never broken down. Have replaced brakes and tires from wear and tear but that is it. I don't even change the oil as often as I probably should but the car is a champ. Pick-up isn't the best and it's very loud (vibrations/rattles/outside noise). No special features, no power options. But in the end probably the best 3000 dollars spent. Plan on driving it until it can't drive any longer.
Over the past 13 years I'm sure Toyota has covered it.