Three problems related to engine and engine cooling have been reported for the 2001 Toyota Corolla. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2001 Toyota Corolla based on all problems reported for the 2001 Corolla.
The engine on my 2001 Toyota Corolla s had the timing chain jump, the engine suffered damaged valves, 3 pistons were broken and damaged others. My car had only slightly over 66,000 miles on it. The Toyota dealer where I purchased the car wouldn't do anything because the car was out of warranty, but I have never heard of a Toyota engine going bad with such low mileage. It was lucky this happened on a city street and not on the freeway.
I was driving my 2001 Corolla uphill its timing chain broke and the engine turned off. I had maintenance done via Toyota at 90k and it happened at 92k. I have no other problems or recommendations from Toyota. This is big ticket item and it cost about 2k to fix the car.
Due to engine sludge, the engine was not lubricated enough to keep the seals intact. Now oil is getting into the spark plugs causing misfire. Diagnostics resulted in a total engine replacement (engine cost not including labor) $5,000. 00. Toyota should cover this, the rental car needed in the interim, and extend the warrantee to 120,000 mi covering similar repeated problems, as it is a manufacturer defect.