LOL no
LOL * 5 NO.
$7500 for a 2004 corolla with 113k miles? HAHAH
I'm sorry both those cars are not good, but the corolla is really a tit-fvck at that price.
Don't believe, don't believe, don't believe the hype (Toyota and Honda). I just found a local 2004 corolla (it's an LE, though) with exactly half those miles for....$7800 ASKING, so you could talk him down lower.
I just found a local 2003 Maxima (approximately 30X the car of a Corolla) with 78k miles for $7500. I know you want an econobox but I'm posting it for comparison's sake. Same vintage full size sedan with far more power/luxury, many less miles, and the same price.
2008 ford fusion, local, 20k miles for $8999 and it looks quite loaded.
You should never, ever, ever. Never ever ever. Don't ever ever pay $7500 or anything close to it for an econobox with 100k miles on it, that thing is overpriced by thousands. Just because "going price" on it may be in that range doesn't mean you should be a sucker like others that would pay so much for a corolla.