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Aside from the obvious. I know that they are made by different companies, but they seem to linger in the same price range & have the same general body type. Does anyone out there have some important information as to what features are most desirable & what is the best buy? Also, those packages get so confusing. Thanks!

 
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They're actually not intended to be direct competitors. The Fit is Honda's newest entry-level compact car, created after the Civic progressively got larger and was no longer a simple small car. It has tiny wheels, a tiny fuel-efficient engine, and a tall greenhouse (passenger cabin). It's practicality is a marketing tool for 20-30 yr-old females. It's closest competitor would actually be a Nissan Versa.The Toyota Matrix is larger, closer in size to the Corolla, and is intended to be a crossover SUV. It's sleeker, comes in all-wheel-drive, and has a zippy 180+hp engine available on the higher-end model. It's not intended to be as practical or fuel efficient, and it's marketed to 20-30 yr old males.