Yeah, I would say that GAP insurance is typically better for a more expensive car and/or a car that depreciates faster and only get it if you didn't put down at least 20% of the car's sale price. The Fit isn't too high of a risk that you will need it, though.

 

I have an 08 and I pay $337/month. Of course, I traded in a car that I owed $6300 on and they originally only wanted to give me $2000 for it. Out the door price was like $18,500. Not to shabby considering the trade in, IMO

 

$0 / month (paid cash)

bought it off of a relative for $10k with 1800 miles on it.

 

I have an 08 Sport 5spd.
Car + tax + fees + financing = $17.8k
$4500 down
financed $13,289.12 @ 4.7?%
Payments are $304/mo. Insurance is 400/six months with full coverage. (Multi-car discount, plus one accident at-fault. We really shopped around for that rate)

You want to have at least 20% down, so you don't have to worry about being upside-down on your loan / gap coverage etc.
Make sure to negotiate the APR if you're going to finance. I have excellent credit, but I'm only 25 still. I got a lot of offers around 6%, and capital one even denied me credit. AAA offered 4.9 so I called up my dealer and told them what I could get, and asked me if they could beat that. Without running my credit the finance department called me back within minutes to say sure, no problem. The dealer makes money off you financing through them. They are willing to work for that money, so don't just settle for the first number they give you.
My aunt bought a Fit off the same delivery a few days later, and her APR is not as low, because she didn't ask for better.

 

17800
1000 down
6.69%
330 a month

 

Financed my 09 Base at six-point something percent. 1K down. 600 bucks worth of "dealer accesories" (they wanted 1200!) Honda extended warranty and GAP insurance. HUGE amount of Illinois taxes. 359/month.