Not much to write about! And that is the objective of Toyota.
After seven years and 150,000km, I can't imagine a car with lower running costs. The little 15" wheels mean I can buy some pretty nice tires for not much money. The fuel economy is outstanding, typically in the low 7's in all city driving and low 5's on the highway. These numbers are being eclipsed by some newer models, but not many cars can beat it.
There have been a few recalls, most notable might be the accelerator pedal recall - our car hasn't been updated. Otherwise there has been one for weak trunk springs, a faulty power window switch, and a change to the VVTi cam gear.
In terms of service, it has been oil changes and tires, a transmission fluid change and one set of brakes at 110K. The car uses a cartridge style oil filter that requires a special tool, and the filter isn't in the easiest spot, but I can DIY an oil/filter at home in less than 30min. The cabin dust filter and other filters are easy.
Recently, the car required it's first non-routine repair. The water pump is known weak point, with most people experiencing failure at under 100K, meaning replacement under warranty. Our lasted until 150K, so I had to foot the bill. The pump is updated, so I expect the new one might last the life of the car. If not, no big deal. The pump was $100 including taxes and shipping and is very easy to change. I replaced the coolant at the same time.
After quieting the noisy pump, I noticed that the alternator was making a little bit of noise. Being super picky, I replaced it as well.
The paint has been durable - surprisingly few rock chips for a car driven through Edmonton winter. It still shines up nicely on the rare occasions it receives some TLC. The interior materials look a little low-rent, but wow, have they held up well. The hard sections of the console aren't scratched, etc. It takes some serious washboard to illicit any noise from the interior panels.
This car is uninspiring to drive. The FWD platform pushes and the gearing is designed for fuel economy. This is truly an automotive appliance in the truest sense. Which is exactly why we bought it. Given our experience, the newest Corolla would be the first car we'd consider were it time to replace.