What would be a good price?

[CU]

I am thinking about trading my Colorado Xtreme in for a new Honda Fit or used Mazda 3 hatchback. What would be a good price for a new Honda Fit Sport with an automatic transmission, 14K-15K? How about a used Mazda 3 hatchback with an automatic transmission? I have found an 04 with 78K miles on it. It has the 2.3L engine also. Asking price is 10.5K. Sounds like a good deal. Wonder if he will go lower? Which one would be a better choice? I am thinking the Mazda would be the smart choice. Also, I will only put about 10K miles on it a year.

The reason for the trade is to reduce my car payment, get better gas mileage, and be able to carry more than one passenger.

 

[SearchMaster]

According to CarsDirect.com, the Fits are still selling for above MSRP. For my area it shows $15885 for the base model and automatic. CarsDirect is by no means the best source for automobile pricing but it's a quick-n-dirty reference point and shows there's still a high demand.

Edmunds shows private party pricing on the Mazda3 with high mileage is just under $10K (didn't know what options to choose), so it sounds like the model you're looking at is priced a bit high. Make sure you check tires and find out the service history on brakes, etc...you're probably due for new front brakes at that mileage and probably about ready for the third set of tires, so adjust your offer accordingly.

 

[CU]

Fits Sports with automatic transmission are listed for 16705 here. Each dealer seems to have around 10.

I don't know about the options on the Mazda either. I just found it in the classifieds. It did say it has new tires with only 50 miles on them.