By Glenn Lamb 

I have purchased a 2009 and 2010 Chevrolet Cobalt. My wife drives one and I use the other one mostly for my Houston Farmers insurance agency business.
Both cars are basic 4 door models with automatic transmission. The list prices were a little over 19K and we paid a just over 16K (plus tt&l) after rebate.
Our average fuel economy has been 23 mpg in mostly city driving. Handling is good with a smooth quiet ride, and performance is ok. It is a good driving car for the price range. The sound system is above average. We have had no mechanical problems with either vehicle.
Standard features include air conditioning, tilt wheel, auto headlamps, rear defroster, electric steering, AM/FM/CD/MP3/XM stereo, and a theft deterrence key. There is a full line of extra cost options available. The Cobalt is scheduled to be replaced in the 2011 model year by the Chevy Cruze.
The Cobalt has a small compartment that opens to access the button to open the trunk. You will get a nasty gash on your shin if you forget to close the compartment. My wife and I have both a small "Cobalt scar" on our shins. Any lawyers out there...make them fix that! I think the seats could be a little more comfortable. Insurance rates are low for the Cobalt but government crash tests are mixed (good frontal impact scores, but weaker side impact rating).
Overall if you want a small car this could be a model to check out. Because the model is being replaced I personally would want an extra big rebate to consider getting Cobalt.