After a somewhat disappointing first 800 miles, I decided to see how much I could get for the Fit with a dealer. There's no used KBB values on the '15 yet, so it was a little bit of a mystery as to what the offer would be.


I took it to CarMax, just as a starting point, and they were very helpful. In fact, the young Korean saleswoman who helped me used to work at a Honda dealer and was very excited to see the new Fit for the first time. She knew all the details of the old one, and was amazed by the advancement of the new generation.


Anyway, back on subject, for my LX manual in Aegean blue and with 805 miles on the clock, they offered me $13,000. Not bad, and it gives me an idea to the private party (I had them appraise my old Focus at $3500 and I ended up selling it privately for $5700)


Thought it was interesting to see what kind of depreciation the Fit has

 

ouch. after my warranty issue, i briefly considered trading mine for a mazda 3. i quickly realised that resale value was borderline ridiculous, so that idea ended quickly.

 

I remember using Edmunds "TMV" values over several years to calculate the depreciation curve on a used Town & Country we were looking at buying (after our previous Grand Caravan was struck by lightning and totaled!). The 'sweet' spot was at about three years old, which is when the depreciation started to level off. It was pretty steep the first two years, though.

Anyone that trades in a GK at this point is a Beta Tester… (c:

es

 

I've been looking for a more fun car.

If Subaru releases a hatchback WRX for 2015/2016, I'll trade my GK for that. Otherwise, I'm keeping the GK for a while because I don't want to think of the loss I'll take on it if I don't.

 

what trim level do you have that was appraised at $13,000

 

An LX manual...

 

I never learned to read. That's actually good news that the lowest initial value is carrying a 13k trade-in.

 

CarMax tried to get my 2008 Fit on the cheap.....$2,000 less than I sold it to a local Honda Dealer for. I wanted to get the car sold so I could go on a hunt for the new 2015. I was afraid either my Wife of Daughter would wreck the car before we could find it's replacement, so I sold it to the highest bid from a variety of Honda dealers. Car Max came in way low....

 

If you think that first year depreciation of a Fit is bad, try a GM product, particularly Cadillacs! Driving one of those off the lot costs more than a new Fit!

Once upon a time I tried buying a low-miles used Honda. What few I could find were priced at nearly new car levels. That LX they pay you $13K for will end up on their lot priced at $15,500.

 

Really? 800 miles seems like a very short time to decide to trade in a new car.

Edited to add: Of course, the way this winter is going, it may take me eight months to get 800 miles on Pearl.

 

It is a short time, especially considering I had my prior car for six years and my secondary car is currently 27 years old. I tend to keep my cars a long time. But seven visits to the dealer for odd quality issues is, at the very least, very annoying on a brand new car (my first new car) and may be a sign of things to come. It's not the experience I had wanted and, just like when we're 10 years old, I kinda want to have a "redo" and try again.

 

So I took the Fit to the dealer that I bought it from, and without even mentioning the CarMax offer, they also offered $13k. Seems to be the going rate.


With that big of a loss (not a big surprise though), I think that I'll keep it while the warranty is still valid and see how things play out. Maybe it'll get better once the quality bugs work themselves out. Otherwise, I may just count on insurance claim if one ever arises

 

Oh, well, yeah; I can see that.

 

Now with 2,200 miles on the Fit, I had it appraised by Beepi. If you've never heard of them, don't feel bad. They are a new company that works as a middle man for peer-to-peer used car purchases. They inspect car for sale, make an offer to the seller, deal with the banks for payoff or financing, and then resell the car on their site. If they don't sell you car within 30 days, they will buy your car from you for the price offered. They also guarantee to beat any dealer trade value.

So they came out yesterday and offered me $14,309 on it. Not bad. That beats the $13k offer from a few months ago (I was also offered $13k at Chevy last week when I tried to trade the Fit for a Sonic). It's still a big hit from the out-the-door price I paid, but I'll think about it

 

Trading in a Fit for a Sonic? Maybe you should lay down.

 

Trying to at least.... and have had plenty of sleep to think about


The Fit just hasn't been what I thought it was going to be. The quality issues have been aggravating and unexpected.


I find the Sonic to be much more refined on the road; quieter and more composed. The gearing of the manual is much better sorted, and the front seats are more comfortable with plentiful legroom. I also like the styling much more, I don't get the Fit's odd creases and holes in the bumper. The Sonic's pseudo motorcycle theme is kinda cool. Lastly, buying a car made here in the US makes me just feel better as well.


To me, the only things that the Fit does better than the Sonic are rear seat room (I'm not back there anyway, and it still beats the Fiesta), fuel economy, and I do know (unless I get a lightly used one) resale will kill me

 

Sounds like ur more about American cars. Maybe try a Saturn. Do they still have those plastic panels that are dentless? (Just kidding man. I saw your other thread)

 

That sounds tempting.
Although I like my Fit, I do constantly wish for higher MPGs. With that kind of offer I could probably get a 2-3 year old Prius C or 3-5 year old regular Prius. I could probably also get a brand new Mirage.

 

That's actually pretty funny


Believe it or not, you could dent a Saturn. When I was a kid, my friend's Mum had a 1995 Saturn SL1 that she bought brand new and he accidently dented the roof on it. Apparently, the roof was the only part of the car that was made of regular steel. Saturn would not have been able to save me from that dilemma!


I did like those original Saturns though! Not a bad effort from GM in their dark days. Yeah, I'm probably more of an American brand fan; owning mostly Fords. I admit they have made some terrible vehicles, and any purchase with them should be with caution. My last car, an original Focus, turned out to be a pretty reliable and rewarding car even though it was a recall king when it was first introduced in 2000

 

Ironically, they called me right after I dented the car this afternoon (story is in another thread) and then offered $14,800. That is very tempting, but the car has to be in the same condition that they saw it. The irony is almost comedic!


You want more MPGs than a Fit? Basically you'd be in hybrid territory, which gets expensive. The Mirage is a good alternative. I've driven a few rental Mirages over a collective 1,000 miles or so, and really like the car. It lacks some refinement, but is surprisingly roomy and feature packed. It also does decently, considering what it is, on freeways. I did average 52mpg in the one I had from Vegas to LA.