Navigating the Honda Pilot Market: A Comprehensive Guide for Buyers and Leasers
Are you in the market for a new family SUV? The Honda Pilot might just be the perfect fit for you. Let's dive into the current state of the Honda Pilot market and explore how you can make the best decision when buying or leasing one.
The Honda Pilot in the Current Market
The Honda Pilot has been a strong contender in the SUV market for years. However, recent trends show some interesting shifts:
Honda's best year for Pilot sales was 2018, with about 160,000 units sold.
Since then, sales have declined slightly.
Meanwhile, its main rival, the Toyota Highlander, has seen significant growth.
This doesn't mean the Pilot isn't a great choice. In fact, many (including myself) prefer the Pilot over the Highlander, even in previous generations.
Current Inventory and Trims
As of now, Honda has about 13,000 Pilots available in the market. Here's a breakdown of the most popular trims:
EX-L: 5,000 units
Trailsport: 2,700 units
Touring: 2,400 units
Sport: 1,000 units
Black Edition: 900 units
The Trailsport trim, in particular, stands out with its beautiful design and features.
Pricing and Negotiation
Let's focus on the Trailsport trim for this example:
MSRP: $50,950
Target selling price: $47,128 (7.5% off MSRP)
A 7.5% discount off MSRP is entirely achievable, and even resources like Edmunds suggest similar figures.
Financing and Leasing Options
Financing
Honda is currently offering a promotional 3.9% APR for 60 months.
Leasing
The current lease program for the Pilot includes:
65% residual at 36 months and 12,000 miles per year
Money factor: 0.00183
No lease cash
Using these figures and assuming a 7.5% discount, you could potentially lease a Pilot Trailsport for around $536 per month (not including state sales tax).
New vs. Used
When considering a used Pilot, keep in mind:
Used models on the market are of the previous body design.
Consumer Reports predictions for the current model are not as favorable.
The current lease program is quite decent.
Personally, I'd lean towards leasing a new Pilot. This way, you can try it out for a few years before deciding to buy it outright.
How to Approach Dealers
To get the best deal, create a list of 5-6 dealers in your area and send them an email. Here's a template you can use:
Dear Honda Dealer,
My name is [Your Name] and I'm in the market for a new SUV for my family. We're considering the Honda Pilot, specifically this model: [Insert Link].
We're also looking at other options in the segment. Our budget is around $500/month for a lease, or no more than $50,000 including taxes and fees if buying.
What can you offer us?
Sincerely,
[Your Name]
## Conclusion
The Honda Pilot remains a solid choice in the SUV market, offering a great balance of features, comfort, and value. Whether you choose to buy or lease, armed with this information, you're now ready to negotiate the best deal possible.
Remember, the key is to do your research, know your budget, and don't be afraid to negotiate. Happy car hunting!
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Did you find this guide helpful? Check out the original video for more detailed information and visual aids. And don't forget to share your car-buying experiences in the comments below!