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Discussion Starter · #1 · (Edited)
Howdy howdy everyone, the name is Anthony, and this is my first post. 馃憢

I believe I found what you guys call a "creampuff". It is 2007 Honda Pilot EX-L FWD w/Navigation with under 30k miles and has the running boards. It is in Nimbus Gray, with Gray Leather interior, and lives it's life in the Monterey Bay, California area (and has it's entire life). Single owner (of course). It has been meticulously maintained, and just had a timing belt job done in it just a few months ago. Everything is in excellent shape. Drives perfectly, and all features work. While it wasn't garaged, it was put under two car covers when not in use. Only thing it really needs is a quick clay bar, a light polishing, wax, and a healthy application of black trim restorer to bring back to virtually showroom quality. As you can imagine, there aren't really any comparables. KBB says it's only worth $10,597. Edmund's says $10,316.

Without (spoiling) things, how much would you pay for such an oddity? (and explain your rationale)

It's my mother-in-laws, the wife and I are responsible for at least a couple thousand miles of those over the years, and I was probably the last person to detail the interior :LOL:, her asking price is 15k. She wants 3500 down, then 500/mo after that until it's paid of, and comes with like 6 months of insurance paid as well if I decide to go through with it.
 

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Well it's worth at most what the online resources say. She wants $15k she's a little too far off unless she needs the money and you are in a position to be charitable to your MIL.

My grandfather always loved haggling using the black book, or auction values rather than resale values. If he couldn't get black book he wasn't going to buy the vehicle because to him it wasn't a good enough deal.
 

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So you need to replace the I assume original tires. Brake calipers hate not being used but hopefully haven鈥檛 developed any rust that will cause problems. Brake fluid old. The car needs to be brought out of its slumber.
AWD v fwd would affect valuation.
I would ask seller how they got to that value.
 

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Banned from wife鈥檚 2005 Pilot LX
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That Pilot has lived in a salty air environment. I would take a look on the underside for rust. The rubber components on the Pilot are also 14 years old . . . low mileage or not I鈥檒l bet there is some drying and cracking.

As for the asking price, it鈥檚 high. Perhaps help your MIL list it on Craigslist for her asking price and see how much interest it receives. That could convince her to drop the price to something more reasonable. If you鈥檙e helping her out financially and are willing to pay asking price, then that鈥檚 a decision for you and your wife to make.
 
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Challenge them on the price and if you鈥檙e gonna finance it don鈥檛 do it through them. Money and family don鈥檛 often work out well. Drive it how it is and enjoy it. Things may break because they鈥檙e old but no need to put any additional money into it
 

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Why would a Honda Pilot with "only 30k" miles have the timing belt "done" ?

Honda recommends changing the TB every 7 years, regardless of your low milage. In this case, it was 6 years overdue.
 

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Bottom line is, it's a Honda Pilot. The insurance company is going to look at replacement value. They will not cover this vehicle at 15k. A dealer could likely sell it for 12-13k because they finance. As a private buyer cash deal, I'd pay no more than book value. Make the offer and let it stand. They may bend after a week or 2.
Don't feel like you lost out if you don't get the vehicle.
 
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I believe I found what you guys call a "creampuff". It is 2007 Honda Pilot EX-L FWD w/Navigation with under 30k miles and has the running boards. It is in Nimbus Gray, with Gray Leather interior, and lives it's life in the Monterey Bay, California area (and has it's entire life). Single owner (of course). It has been meticulously maintained, and just had a timing belt job done in it just a few months ago. Everything is in excellent shape. Drives perfectly, and all features work. While it wasn't garaged, it was put under two car covers when not in use. KBB says it's only worth $10,597. Edmund's says $10,316.

Without (spoiling) things, how much would you pay for such an oddity? (and explain your rationale)

It's my mother-in-laws, the wife and I are responsible for at least a couple thousand miles of those over the years, and I was probably the last person to detail the interior :LOL:, her asking price is 15k.
The appraised value I'm seeing on Edmunds, for the vehicle as you described and in "clean" condition, is about $8,100 for a "private party" sale. $5,400 for "trade-in" and $9,500 for "dealer retail".
 

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Since it鈥檚 family they should probably give you a big discount. Don鈥檛 feel pressured to buy it just because your mother in law is selling it.
 

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Bottom line is, it's a Honda Pilot.
Right. It's only a 13-year old Honda Pilot. You can get a lot of vehicle for $15k, like an '11 - '13 Mercedes E-Class 4wd wagon. "Mint" matters on a collectible. This is just transportation.

If the seller can find someone who wants that car that much, then both parties will be happy. Since its a family transaction, you might both preserve the peace and do far better for yourself by asking for right of first refusal on any offer. Let someone else establish the fair market value, then decide if that's a good deal.

Let's run a pool on this. I predict it will eventually sell for $8,500.
 

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Discussion Starter · #13 · (Edited)
As a follow-up. The vehicle has only been serviced at the local Honda Dealership from my understanding, with recommended maintenance (regarding age) being performed with each oil change. Tires on it are probably a year old at most, and likely less than a few thousand miles. I have yet to "re-assess" the vehicle since the wife and I last got to borrow/use it, or with the mindset of buying it. It was mainly used by the owner for long trips to the airport (200 miles round-trip), or the San Jose / San Francisco area for doctor's appointments / etc. So outside of the few times we used it for camping / and minimal grocery getting, it mostly has highway mileage. Gonna swing by later today take some pictures (to share), and want to go through the maintenance records with a fine toothed-comb. Having owned several 15+ year old cars, I'm aware of what age-related items to concern myself with (it's mainly anything that is rubber), which includes big ticket things like shocks/struts. Yes, this area is next to the ocean, which means it's pretty common for humidity to exceed 70%. This particular area also is known as "Fog Town", but based upon what I've seen with my own cars over the last 7 years, it's not that bad, and the weather is akin to "pleasantville". Still need to climb under it and take a look, but I don't expect to find anything

Her asking price is supposedly based off what someone at the Honda Dealership (private party?) offered, but I have no idea how long ago that was. In regards to KBB/Edmunds, those are Dealer Prices, however if you put in the same condition vehicle, and increase the mileage to 155k, it says it's only worth about 2k less. Am I wrong to find that price difference for mileage disparaging? As for the family lending concerns, if things go awry, can always pay off the remaining.

TBH what started this all, was my wife getting a job and needing a reliable-ish vehicle, wants an SUV to pack us and our 8 year old son in and all our "glamping" supplies, with the dog, etc. So I was actually in the market / looking at used high mileage Pilots (thanks to actually driving this creampuff - I know what "new" feels like), and was going to go look at 3 different pilot's this weekend via "Dealers", but they are 3 hours away.
1. 08 EX-L 4WD @ 155k and they want 8k (unknown service records) but otherwise immaculate/pampered (the leather interior looks like it's brand new). Black with Saddle Interior (it's purty).
2. 05 EX-L 4WD with 190k for 4.3k (unknown service records), overall in "good" shape, but front seats have a minor tear in each for some reason. Steel Blue Metalic with Gray Leather. Includes running boards.
3. 03 EX 4WD with 218k miles for 3.8k (and the most detailed / logged entries for service I've ever seen for a CarFax),. TB is only 2-3 years old, fresh tires, brakes, new struts/shocks all around, most gaskets on the engine replaced (down to the tube-seals). However, does have a Trailer Hitch installed. Redrock Pearl with Tan cloth interior (looks extremely well maintained). Has fake wood-trim kit installed, but I don't mind it.

For all the above, way I look at it, and doing some research (thanks to the wealth of information on this website that was extremely helpful as well in researching these vehicles, so kudo's to everyone who helps keep the magic on these forums going 馃榿), even if the the Trans went out, can get it replaced for $1500-ish with a "rebuilt", or low-mileage one. I'm also not afraid (maybe a tad hesitant due to the amount of physical labor involved depending upon the job) to pull out a wrench, and no stranger to pulling parts myself from a pick-n-part (I'll strip every sensor/solenoid if I had to off a transmission if I have to in order save money).

As a courtesy, my wife told her mother about our plans, which less than 24 hours later prompted her offering the mentioned deal, as it's just sitting there not getting used, and likely would rather see her daughter drive it into the ground, than selling it considering all the money she put into it. Her concern is that we'll buy a lemon, and was offering to help use her credit to buy/finance a new car (but I don't want THAT car payment, or depreciation hit in 5 years, high insurance, etc). Yes, I agree 15k is too high. Regardless, I need to call up my Insurance company, and get them to tell me what it's worth, as we are not trying to go "upside-down" on a car. My only gripe with the vehicle, is the built-in navigation system, especially after getting the Android Auto experience in a recent rental car I drove while travelling. Not to mention the ability to use DashCommand with an ELM unit on a Pioneer deck 馃い
 

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$9200 private party assuming it passes a pre-purchase inspection with flying colors. And for the Canadians participating in the poll that鈥檚 in USD.馃榿

As you found in your research, low miles on an older vehicle doesn鈥檛 significantly increase its value. At the end of the day it鈥檚 still a 14 year old vehicle. I ran into the same thing when I sold my very low mileage 2003 Tacoma a few years ago. I miss that truck . . . but the kids no longer fit in it.
 

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$9200 private party assuming it passes a pre-purchase inspection with flying colors. And for the Canadians participating in the poll that鈥檚 in USD.馃榿
Just for that snide remark I'm going to have to pull the old Price Is Right whammy on you and bid $9201 USD. :p
 

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Just for that snide remark I'm going to have to pull the old Price Is Right whammy on you and bid $9201 USD. :p
That鈥檚 okay since it will probably sell for $9199 USD.馃ぃ
 
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