Do Honda Pilots hold resale value?
The Honda Pilot is a popular midsize SUV known for its reliability, versatility, and strong resale value. According to industry experts, the Honda Pilot generally holds its value well compared to many other SUVs in its class.
Factors Affecting Resale Value
Several factors contribute to the Honda Pilot's impressive resale value:
- Reputation for Reliability - Honda is widely regarded as one of the most reliable automotive brands, and the Pilot has a reputation for being a dependable, long-lasting vehicle.,li>
- Demand and Popularity - The Pilot is a consistently popular model, with steady demand from both new and used car buyers. This high demand helps maintain resale values.
- Minimal Depreciation - Honda Pilots typically depreciate at a slower rate than many competitors in the midsize SUV segment. This means owners can expect to recoup a larger percentage of their initial investment when selling.li>
- Versatility and Practicality - The Pilot's spacious interior, seating for up to eight, and ample cargo space make it a practical choice for families and active lifestyles. This versatility contributes to its strong resale value.
Overall, the combination of Honda's reputation, the Pilot's popularity, and its practical design and features help the vehicle retain its value exceptionally well over time.
Real-World Resale Value Examples
To illustrate the Pilot's resale value, consider these examples:
- According to Kelley Blue Book, a 2020 Honda Pilot with average mileage has a typical resale value of around 60% of its original MSRP after 3 years of ownership.
- In comparison, a 2020 Toyota Highlander, a key competitor, has a typical 3-year resale value of around 55% of MSRP.
- Industry data shows that Honda Pilots generally retain their value better than the average midsize SUV, with resale values that are 5-10% higher than the segment average.
These figures demonstrate the Honda Pilot's strong resale performance, making it a wise choice for those looking to maximize the long-term value of their vehicle investment.
What is Honda's number one selling vehicle?
Top Selling Honda Models
- Honda CR-V. The Honda CR-V has outdone itself as the best-selling Honda at our dealership near you.
- Honda Accord. The Honda Accord takes sophistication to new heights with its sleek, updated design and advanced technology features.
- Honda Civic.
Which Honda has the highest resale value?
The recipient of the top spot in the compact car segment in the 2023 Kelley Blue Book Best Resale Value Awards is the legendary Honda Civic Sedan. Always a familiar face when it comes to this type of award, the Civic Sedan has remained one of the most popular choices in its class for decade after decade.
Do pilots hold their value?
After 5 years of ownership or 100,000 km driven, the Pilot typically depreciates around 40-45% from its original MSRP. This impressive value retention puts it ahead of rivals like the Toyota Highlander (48-52% depreciation) and Kia Telluride (50-55% depreciation).
Does Honda Pilot have good resale value?
A 2023 Honda Pilot has depreciated $9,742 or 24% in the last 2 years and has a current resale value of $30,033 and trade-in value of $26,879. A 2023 Honda Pilot has depreciated $9,742 or 24% in the last 2 years and has a current resale value of $30,033 and trade-in value of $26,879.
What are the negatives with Honda Pilot?
One of the big disadvantages of the Honda Pilot is the lack of hybrid trim options. With such a large SUV, the fuel efficiency ratings aren't great, though they are competitive with other gasoline-powered SUVs. The 2023 AWD Pilot has a fuel efficiency rating of 21 combined city/highway mpg.
What holds value better, Honda or Toyota?
Out of a recent depreciation comparison, both brands offer great value retention; Honda Civics depreciate about 16.3% after 5 years while Toyota Tacomas depreciate 14.9% over the same period.
