Our Yaris is a 2008 and we are now 3 1/2 years and 36,000 miles into our ownership.
Car has been perfectly reliable and exceeds EPA ratings, we regularly see 40 to 44 mpg highway, 30+ in town.
Roomy up front, with lots of legroom, but narrow.
Backseat has enough legroom & headroom for 6-footers and under.
Lots of storage pockets, the center gauges are no problem, and the interior is pretty nice.
Less road noise than the Fit.
Problems: The engine has enough power, but the 4 speed automatic needs another gear or two.
Driving position is terrible for taller drivers; the wheel is too far away, and the pedals too close.
Pay attention to this during your test drive.
Roomy for its size, very reliable and efficient, quick steering is accurate and makes the car fun to dart around town, good ride quality, fairly quiet on the highway, plenty of storage for wallet, phone, ipod, etc., engine is peppy enough around town, turns on a dime.
Four years in, and we don't regret the purchase.
Desperately needs a telescoping steering wheel.
5 or 6 speed automatic would help engine performance.
Sound quality from the stereo is really bad, with overblown murky bass and no midrange clarity, but this is nothing new for cheap cars.
New competitors like the Fiesta, Accent, and Sonic have improved since we bought our Yaris and have better driving positions, stronger engines, and similar fuel economy.
If I were shopping now, I would get one of those or wait until the Yaris is redesigned to see if they have improved some of the weaknesses.