Honda Fit

The Honda Fit is a subcompact five-door hatchback that slots below the Civic in Honda's lineup and is known for its extremely space-efficient design. Though its sticker price is somewhat higher than those of rivals like the Chevrolet Aveo, Nissan Versa, and Toyota Yaris, the Fit has already established a reputation for excellent reliability, good resale value, and low running costs—as well as for being a little more fun to drive than most other inexpensive small cars.

Although the Fit was introduced in other world markets, including its home Japan, as early as 2001, the model wasn't brought to the U.S. until 2006, as a 2007 model. Featuring a 109-horsepower, 1.5-liter VTEC four-cylinder engine, a five-speed manual or five-speed automatic transmission, and front-wheel drive, along with steering and suspension that felt slightly more on the sporty side compared to rival models, the Fit performed very well. Cargo space was also astonishingly good, thanks to a so-called Magic Seat, which allowed the back seat to fold into several different positions, including to a very low, flat cargo floor or to allow exceptionally high cargo like a mountain bike or potted plant.

That trick seat arrangement is carried over to the redesigned Fit, which was introduced for 2009. The engine was upgraded to 117 horsepower, and automatic models now include paddle-shifters. More feature content was the other news; the Fit gained a touch-screen navigation system and better audio connectivity, but the lack of Bluetooth remains a sore point.

Safety has been a strong point for the Fit all along, but 2009 and 2010 models have available stability control, while standard safety features include side and side-curtain bags and active head restraints. The Fit was a 2009 Top Safety Pick and is one of few small cars to get top scores from the IIHS for frontal and side impacts.

All along, the Fit's strong resale value has been noteworthy. During the gasoline price spike of 2008, a time when Fits were in short supply and the redesigned 2009 model was anticipated, several sources noted that in some places lightly used Fits were selling for more than MSRP.

The model lineup for each model year includes Fit and Fit Sport models, with the Sport in recent years adding alloy wheels, fog lamps, and a rear stabilizer bar, plus cruise control, keyless entry, and steering-wheel controls. With the 2009 redesign, telescopic steering-wheel adjustment was added to the standard-features list. Changes for 2012 included expanded steering-wheel controls and upgraded fabrics, but little else has changed through this latest generation.

An all-electric Honda Fit EV is due in calendar-year 2012, but it might be hard to find unless you're in one particular region of the country (California or Oregon) and are willing to do a special-term lease on this very low-production-volume vehicle.