We have done 110,000 kms with me just changing the oil & filter every 5k; and plugs and coolant once. Other than the light problem, it hasn't missed a beat. We passed our 06 Corolla Wagon on to our son, same deal, oil and filter every 5000 kms, coolant and plugs every 100k, never missed a beat, best car we have ever owned, 240,000 trouble free Kms so far. I bought a kit to do the auto trans filter to give it a treat so that's up next.
P.S. Things aren't that bad in Aus, weather is good, crime rate low compared to the US, but car and bike parts (and the initial purchase price of the vehicle) are dearer than in the US so I usually buy any pricey stuff from there and it is cheaper including the post.
A new base model corolla sedan over here is $23,990 which is about $22,790 USD I believe. Three year fixed price servicing at $130 each though.