Honda Pilot Resale Value: Do They Hold Their Value? What To Know

in Car Costs and Prices
Honda Pilot parked outside

Source: Flickr

Since its introduction in 2003, the Honda Pilot has established itself as a prominent player in the crossover SUV segment, especially attracting families who seek a substitute for the conventional minivan. With a V6 engine, it provides an outstanding balance of performance and fuel efficiency. The Pilot’s spacious interior comfortably accommodates seven to eight passengers, making it an ideal choice for family-oriented buyers seeking a reliable and roomy vehicle.

But does this SUV hold up in terms of value retention?

Although the Honda Pilot has a reputation for being well-received by consumers and critics alike, its ability to retain value over time may be a concern for some people. If that’s you, then you’ve come to the right place. For today’s post, we evaluate the Honda Pilot resale value, how well it holds up its value over time, and how it stacks up with its fiercest rivals in the market.

Honda Pilot Resale Value

The Honda Pilot has an impressive resale value, retaining about 55.64% of its original price after five years, according to iSeeCars. This is noteworthy considering the general depreciation rates of vehicles in the midsize SUV segment. The Pilot’s ability to retain its value indicates that it is highly desirable in the used car market. Therefore, it is a wise investment for those who want a vehicle that won’t lose a significant portion of its value quickly.

However, within Honda’s lineup, the Pilot only ranked as the 12th best in their 5-year resale value, surpassed by other models like the Ridgeline, Fit, Accord, Civic, and CR-V. Although the Honda Pilot doesn’t lead the pack like the Ridgeline or Fit, it still does well. This is pretty impressive, especially considering how tough the competition is in the midsize SUV category. Keeping this much value in a market flooded with choices is a big win for the Pilot.

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On the other hand, CarEdge also provided a more holistic overview of the Honda Pilot resale value. According to their findings, a new Honda Pilot depreciates by 27% after five years, with a resale value of about $32,882. This depreciation rate is calculated based on the vehicle being in good condition and averaging 12,000 miles annually.

CarEdge points out a handy tip for those looking at a Honda Pilot: picking up a model that’s two years old could pocket you a savings of about $5,832 compared to a brand-new one. They also mention that the sweet spot for getting the most bang for your buck, considering how cars lose value, is to go for ones between 2 and 4 years old.

Used Honda Pilot Buyer’s Guide (Powered by CoPilot Price Pulse Tool)

In this part, we’re diving into how the Honda Pilot does in the second-hand car market. We’ll use our user-friendly Price Pulse Tool to uncover important details showing how well the Pilot holds its value.

Let’s take the 2018 Honda Pilot as our example. By running it through our marketplace with the Price Pulse tool, we’ve come across some fascinating trends:

  • The Pilot has solid resale value: The 2018 Honda Pilot is proving to be an excellent investment in the used car market, as it is selling for $2,829 more than expected, which is a 12% increase. This indicates that the Pilot is retaining its value well, which is excellent news for current owners and potential buyers looking for a dependable SUV.
  • Some favorable market shifts: The 2018 Honda Pilot’s market price has decreased by $2,088 from its peak, indicating a downward trend that favors buyers. This shift suggests that the Pilot is moving from a seller-dominated market to one where buyers may have the upper hand. This indicates that now could be a good time for those interested in purchasing this model.
  • The Pilot is in high demand: Despite price fluctuations, the 2018 Honda Pilot is still sold at a consistent price of $26,201. This unwavering price indicates that people have immense faith in the Pilot as a dependable family car, which remains a highly sought-after option.
  • The 2018 Pilot is a good potential investment: The 2018 Honda Pilot is more affordable than its older siblings, the 2016 and 2017 models, which were priced at $3,106 and $3,040 higher, respectively. This makes it an excellent choice for buyers who are on a budget. Additionally, it strikes a perfect balance by providing Honda’s reliable engineering at a price that’s hard to beat in today’s market, ensuring good, long-lasting value.

HOW LONG DO HONDA PILOTS LAST?

It’s been around for two decades and has made quite an impact on the market. If you’re interested in this car, you might wonder about the lifespan of the Pilot. So - how long do Honda Pilots last?

Honda Pilot Resale Value VS Competitors

Despite its relative popularity, the Honda Pilot competes in a very saturated and very cuttthroat segment – competing with the likes of Ford Explorer, Hyundai Palisade, and Kia Telluride. How does it stack up against its competitors in resale value?

  • Ford Explorer: The Honda Pilot fares better against the Ford Explorer, retaining 1.9 percentage points more of its value. While the Pilot depreciates 44.4%, the Explorer loses 46.2% of its value over the same period, giving the Pilot an edge in resale value over the Explorer.
  • Toyota Highlander: Compared to the Toyota Highlander, the Pilot also lags slightly in retaining its value. The Highlander lost 38.1% of its value over five years, much lower than the Pilot’s depreciation rate.
  • Chevrolet Traverse: Against the Chevrolet Traverse, the Pilot shows better value retention. The Traverse depreciates by 51.3%, seven percentage points more than the Pilot’s 44.4% depreciation rate. This gives the Pilot the edge in resale value.
  • Kia Telluride: The 2018 Honda Pilot demonstrates a better resale value than the Kia Telluride. The Pilot loses 44.4% of its value over five years, while the Telluride sees a slightly higher depreciation at 47%.
  • Hyundai Palisade: Against the 2020 Hyundai Palisade, the Honda Pilot also shows a more robust performance in retaining its value. The Pilot depreciates by 44.4%, whereas the Palisade depreciates at a higher rate of 48.2%. 

As you can see, the Honda Pilot resale value is a mixed bag. It doesn’t always stay as valuable as older favorites like the Toyota 4Runner or Highlander. But the good news is, it does a better job at holding onto its worth compared to some of the newer cars on the block, like the Kia Telluride and Hyundai Palisade.

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