Does Honda Pilot hold its value?
The Honda Pilot is a popular midsize SUV known for its reliability, spacious interior, and family-friendly features. If you're considering purchasing a Honda Pilot, one of the key factors you might be wondering about is whether it holds its value over time. In this article, we’ll explore the factors that influence the Honda Pilot’s resale value and why it remains a strong contender in the used car market.
Why Resale Value Matters
Resale value is an important consideration when buying a vehicle, as it determines how much of your initial investment you can recoup when it’s time to sell or trade in your car. Vehicles that hold their value well can save you money in the long run and make upgrading to a new car more affordable.
How the Honda Pilot Performs in Resale Value
The Honda Pilot is widely regarded as a vehicle that holds its value well. Here are some reasons why:
- Reliability: Honda has a reputation for building reliable vehicles, and the Pilot is no exception. Its dependable performance makes it a sought-after option in the used car market.
- Brand Reputation: Honda is known for producing high-quality vehicles, which helps maintain strong demand for its models, including the Pilot.
- Practicality: The Pilot’s spacious interior, advanced safety features, and family-friendly design make it a versatile choice for a wide range of buyers.
- Fuel Efficiency: For a midsize SUV, the Honda Pilot offers competitive fuel efficiency, which appeals to budget-conscious buyers.
Depreciation Rates for the Honda Pilot
Like all vehicles, the Honda Pilot does experience depreciation, but it tends to lose value at a slower rate compared to many competitors in its class. On average, the Honda Pilot retains a significant portion of its value after five years, making it a smart investment for those who plan to resell or trade in their vehicle down the line.
Tips for Maximizing Resale Value
If you want to ensure your Honda Pilot holds its value as much as possible, consider the following tips:
- Regular Maintenance: Keep up with routine maintenance and address any repairs promptly to maintain the vehicle’s condition.
- Keep Records: Maintain detailed service records to show potential buyers that the car has been well cared for.
- Protect the Exterior: Use protective measures like waxing and parking in shaded areas to preserve the paint and prevent damage.
- Choose Popular Features: When buying a new Honda Pilot, opt for features and trims that are in high demand, as these can boost resale value.
Conclusion
The Honda Pilot is a solid choice for buyers looking for a vehicle that holds its value well. Its reliability, practicality, and strong brand reputation make it a standout in the midsize SUV market. By taking good care of your Pilot and making smart purchasing decisions, you can maximize its resale value and enjoy a great return on your investment when it’s time to sell.
Frequently Asked Questions
Is a Honda Pilot worth buying?
In general, the Honda Pilot can be considered a reliable SUV. Honda has been quick to respond to reports by owners. An early transmission issue was largely sorted out, as was a problem with the gearbox in 2005.
Should I buy a Honda Pilot with 150k miles?
Although you can get an excellent deal for a Honda Pilot with more than 100k, it's not a good idea. These vehicles aren't the most reliable, so you're better off going with another car selection.
Is Honda Pilot high maintenance?
A Honda Pilot will cost about $7,476 for maintenance and repairs during its first 10 years of service. This beats the industry average for popular SUV models by $774. There is also a 21.05% chance that a Pilot will require a major repair during that time.
What is the life mileage of a Honda Pilot?
Do Honda Pilots last a long time? Yes, with proper care, a Honda Pilot can last up to 200,000 miles, and in some cases even longer, reaching close to 300,000 miles for owners who are very meticulous with their care. So, Honda Pilots can last a long time with proper maintenance.
Should you buy a Honda with 100k miles?
The general rule of thumb is to be wary of used vehicles with over 100,000 miles on them, but that doesn't mean you should completely write those cars off.
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.
Does Honda Pilot have a good resale value?
Honda Pilot Depreciation Percentages vs Competition
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).
What is the most reliable midsize SUV?
Most Reliable Midsize SUVs for 2024 and 2025
- 2025 Chevrolet Blazer: J.D. Power Reliability Score: 86/100.
- 2025 Cadillac XT5: J.D. Power Reliability Score: 88/100.
- 2024 Lexus GX: J.D. Power Reliability Score: 89/100.
- 2024 Nissan Murano: J.D. Power Reliability Score: 89/100.
Which Honda holds its value the best?
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.
What are the negatives of a 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.
