We drive 25-30K a year. Just bought an 08. I was figuring on driving it till maybe August 09 and work a deal on clearance as I just did on my 08. I wonder if selling at say 15K is wiser than waiting till august and end up with 25-30K on the car.
It's a tough call but the 09 has so many comfort features that I want to get in one. I also think that financially I am better off moving a car before mileage gets too high.
I was very lucky to trade my 07 Yaris with 70K and major body damage and got blue book on the Yaris after factoring in the repair costs. So now I am in a far superior car but don't want to end up with a car with 70K on it again. Value drops significantly. Do I unload at 25K in August? That was my plan.

 

If you bought an 08 Fit, what did you save off the sticker? With only $600 profit in the car, it's hard to get much.
You have to ask yourself, how much am I willing to take a beating on your current new car just to have that 09.
What features were you wanting on the 09 that you don't have now? Just curious.
That's a load of miles on that Yaris for only a 07.
You will end up loosing anywhere from $3-5 grand easily on your 08 depending on miles I would like.
Just a thought. I'm not in the car selling business.

 

Kelly Blue Book is showing used Fits statistically being sold for more than they were bought new. I paid 15,800 OTD. KBB says a private party sale during the last month in my area was (on average) 17,500 for the same car in the same condition. Supply and demand is working for you- new fits are hard to find, and owners of gas guzzlers in many markets are panicing.

If you can find a buyer that's willing to put extra money in your pocket for your used car, that's half the equation. The other half is whether or not the same thing is going to work against you in buying an '09, and what you are going to do about driving in the meantime.

If you can afford some alternative form of transportation until '09s are available at sane prices (clearly, this high mileage mini-car bubble will burst as soon as manufacturers step up supply) then it's a no brainer. I've considered doing what you are, since I can both walk to work, and ride my motorcycle anywhere else until winter. Haven't tested the waters to determine how accurate KBB's statistics are, however.

 

I just totaled (not on purpose) my 2007 Fit with 35,000 on it and the insurance company paid $15,485 for the car. They also included taxes and it ended up being almost exactly the sticker price of the car.

I don't know how it is everywhere else, but they used Autotrader prices for similar cars in our area. I was suprised at how much people were getting for these cars.

I would not recommend totaling your car to get the value

 

I better go see if I can put money down on the new Honda Hybrid coming out in a year to battle the Prius.

 

I would do the same if it wasn't a cvt.... really love a smooth shifting manual!

 

In some instances. Now if I drive my 08 say 20K then unload it at say a 2-3K loss I look at it the same as a lease. Basically for a guy who drives 30K a year it boils down to driving them into the ground or selling while the car retains value.
I bought my 08 at 889 dollars under invoice because they need to clear out and get their allotment. I figure if I hold on for 10 months or so I can pull off a decent deal AND I start over with no miles. Face it, in 2 1/2 years at 30K I am at the point of brakes, tires, etc. This all needs to be factored in. It's a tough call, driving 2-3 years, rack up high mileage and then try to sell the car OR drive it for 20K then move into the next model year. I am leaning towards trading up every 1-2 years since your always in a new car, no maintenance costs, etc.

 

I remember test driving the Prius and it was like driving a vacuum cleaner somewhat. I eliminated the Prius at the time because it had very little 12v electrical system and I knew I wanted to do a system in it. Hence the Fit purchase.


$889 off sticker is a spankin' deal!