Here's How Much A 2020 Honda Pilot Has Depreciated After 5 Years
The Honda Pilot is a practical family SUV that delivers traditional Honda reliability along with many of the benefits of a minivan, plus added ground clearance. With 2026 Honda Pilot prices starting at around $43,000 and topping out at just over $56,000, you may consider the used car market, where 2020 models are available for a fraction of the cost.
The mid-size SUV has lost just under half of its original value, with depreciation of roughly 48% since 2020, according to CarEdge. Considering a 2020 new price of $44,120, the outlet reports that the value of a used 2020 Pilot in 2025 is around $23,000. Kelley Blue Book, on the other hand, values a 2020 Honda Pilot at just over $18,000, noting that the SUV has depreciated by around 21% over the past 3 years. Meanwhile, Edmunds estimates the Honda SUV can be had for between $17,950 and $20,589, although it lists the average selling price as $22,903, which is close to CarEdge's estimate. That said, these numbers are location dependent and will likely vary from state to state.
The 2020 Honda Pilot was part of the third generation, with prices ranging from $31,650 to $49,720. It featured a 3.5-liter V6 producing 280 horsepower and 262 pound-feet of torque. The 2020 Pilot was available in 2WD and AWD, paired with either a six-speed automatic or a nine-speed ZF automatic transmission, depending on the trim level. While the 2020 Pilot is perfect for practical drivers, it hasn't been one of the most dependable Hondas. J.D. Power gave it an average rating for reliability, perhaps due to electrical issues and a faulty engine start-stop system, which also resulted in an investigation by the NHTSA.
How does the 2020 Honda Pilot's depreciation compare with its competition?
The 2020 Honda Pilot didn't set the sales charts on fire in the three-row SUV segment, with rivals such as the 2020 Toyota Highlander and Ford Explorer topping the category after each sold more than 200,000 units that year. The Highlander, like the Pilot, has a 3.5-liter V6 producing 295 horsepower, available with front-wheel drive or all-wheel drive, but it trumps Honda not just on the horsepower front but also in resale value.
CarEdge estimates that the Highlander has lost just 40% of its value, compared to the 48% lost by the Pilot, with the 2020 model selling for approximately $27,000. The Explorer, on the other hand, has performed poorly compared to the two Japanese SUVs, depreciating by 57% over the past 5 years, with 2020 models available on the used market for around $21,000, according to CarEdge, while Kelley Blue Book estimates values to be even lower, at around $15,000. Again, these numbers may vary, depending on your location.
Other similarly sized SUVs, such as the Kia Telluride, have depreciated by a similar percentage to the Pilot. The Korean carmaker's model has lost around 51% of its value over 5 years, according to CarEdge.