Not to jump all over you, but you put this in the Lexus forum. (doesn't exactly belong here, but that's alright, I see you're new) And with that in mind, welcome to Toyota Nation.
Now, back to the topic at hand. I'm not sure if you'd consider modifying your Solara, but if I had the money to buy a new Corolla I think I'd instead put the money into the car you already have. With only 50,000 miles on it, it has lots of life left in it. My vote, keep the Solara. Even if you don't want to modify it, take the money you won't be spending on Corolla payment and save it, then one day you can buy a car that does belong on the Lexus forum.