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Discussion Starter #1
Edmunds has posted the True Cost of Ownership estimate for the Pilot. I sure hope that they are smoking something with the resale value. They show the depreciation way too high in my book.
 

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One check would be to determine how their depreciation numbers compare for the MDX.

I'd be interested to know even though I plan on keeping my Pilot 7-10 years thereby spreading out the effect of the depreciation.
 

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Discussion Starter #3
They've got the base MDX depreciating 7K the first year, and an EXL depreciating 11K the first year. They show an Explorer holding it's value on par with the Pilot. They actually have the Odyssey being worth more than a Pilot after depreciation. The more I look at it, the more I realize they've screwed up.
 

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The Exploder matches the value of the Pilot?

Someone over there is on crack!!!!!!!!!!!!!:D
 

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Agreed. It sounds wrong. So does the Taurus residual match an Accord's too? Has anyone checked to see how the Pilot or MDX match up to the other foreign car maker SUVs - like from toyota. I bet they vary from Explorers numbers and are better inidcators for the Pilot.
 

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Don't have the numbers but the Honda dealer here had a chart in the showroom that showed an Accord costing much less to own for several years than a Taurus. I'd be VERY surprised if the Pilot didn't fare the same.

Al
 

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These numbers cannot be right. I've long suspected that some of Edmunds numbers were questionable but this proves it.
 

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Let me get this straight. You believe a chart at a Honda dealer is less biased than Edmunds? I believe a big part of the TCO is resale value which is the actual resale price reported by participating dealers. Since the Pilot is a new model I doubt there is much info available on resale and the numbers may change over time.

It also does not surprise me that the Odyssey holds it's value better. The Ody is pretty much considered the standard for minivans keeping the resale high. SUV's are a more diverse group than minivans with a broader range of characteristcs. The Pilot has trade offs that may cause people to look at other SUV's if towing or off road ability is paramount rather than on road handling and fuel milage.

I find it interesting that since Edmunds numbers aren't what people want to hear they can't be right. None of us will know the true cost of ownership until we actually sell and for me that will probably be 8-10 years.
 

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I think Edmunds is way off base,which is surprising because most of their stuff is pretty good. I've sent a letter to the Editor...I'll keep you posted if I get a reply. From my letter to them:

"Over $11,000 Depreciation in the first year for a Pilot EX?
How is this possible? TMV prices show that most are paying over sticker, Honda right now is bulding only 80,000 units, and the Pilot is going to take the same or worse hit as a Explorer? Ford is building 400,000 a year and throwing incentives on 'em in the first year of a new design, and Honda has a quarter of the capacity right now and hasn't discounted the MDX or Oddessy in 3 years. No way."
 

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Resale value for 1 year Honda Pilot $21,869

This figure blows me away.

According to Edmunds.com, the resale value of a 1 years old Pilot EX-L RES is $21,869.

Maybe I will wait for a second hand car if I can save about 13K for just 12 month wait. Why put your name on the waiting list, wait for 3 months or more and paid MSRP + addon (35K).

Hold on.... Odyssey has a resale value of 25,941 for a year old EX-L RES.

What's going on here??????
 

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pjb3 said:
I find it interesting that since Edmunds numbers aren't what people want to hear they can't be right. None of us will know the true cost of ownership until we actually sell and for me that will probably be 8-10 years.
Edmunds was regularly wrong in at least one area within the last few months. As of 4-5 months ago, for my zip code the were still showing MDXs at MSRP + a significant premium. For a fact I was able to obtain quotes all over the place for straight MSRP and believed I could have negotiated a small discount off of MSRP.

There is no way that Edmunds is going to be 100% acurrate. I'm surprised anyone would be surprised that Edmunds might make a mistake. :5:
 

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I havn't looked at the true cost of ownership on Edmunds, but I have looked at the true market value. I can tell you that the Pilot has a tmv $1500 higher then MSRP! :D

This of course would make a considerable difference in the used market 1+years down the road with the Pilot. My best guess is this, how can anyone rate the cost of ownership on a vehicle that just came out?

In reality, we can all relax. I can assure you a vehicle that has a TMV over MSRP will have a used retail tag at MSRP! That, I can live with. :2:
 

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hubby45251 said:
I havn't looked at the true cost of ownership on Edmunds, but I have looked at the true market value. I can tell you that the Pilot has a tmv $1500 higher then MSRP!
How is TMV calculated?
 

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It's supposed to represent the actual price for which a vehicle is selling. The idea is it should give consumers the "real" price. It's been several months now since I looked at it but as I recall, they purport to research to find this out.

I think their numbers are inflated upward, possibly because Edmunds' "research" consists of asking area dealers what they are selling cars for.
 

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If you check Edmunds site they explain what TMV is and how they derive it. I believe you are correct that it is supplied by a network of dealers that have agreed to cooperate. Why do you refer to this as "reasearch" suggesting that it is tainted? It is no different than polls by Consumer Reports or J.D. Powers, they all rely on data supplied by others. I agree that the numbers don't reflect the prices paid in a specific city since they are a national average. In St. Louis they sell at MSRP but according to others they sell well above MSRP on the East and West coasts. The last I checked Edmunds showed the TMV approximately $1200 above MSRP and I would guess on a national average that is correct. Edmunds is nothing more than a starting point.
 

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Discussion Starter #16
THATS MORE LIKE IT

Edmunds has updated the TCO for the Pilot with something in line with what you would expect.:)
 

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New Vehicle

At this point I would not worry about what any research company, American Honda, internet site, or dealer is saying whatever the Pilot will be worth in 12 months, 24 months, etc.

This is a new model and there is no historical data to compare values.

Look at what used MDX's are selling for. I've seen non touring models with 10,000 to 15,000 miles and slightly higher selling for $36,000+ isn’t that around MSRP. And these are year old vehicles. I’ve even heard there are still waiting lists for MDX’s at some dealers.

The Odyssey still sells over MSRP in some markets and how long has that model been on the market? My friends father just bought one and came to the dealer with cash, offering a price about $200 under invoice. The dealer said no and said he could sell the car all day long at sticker or higher. After driving to other Honda dealers in the area he wound up paying just slightly below MSRP for an EX-L with a bike rack (he was charged extra for the bike rack)

Used car value varies from market to market based on consumer demand, vehicle condition, etc. and I can tell you the used car market is a mess right now thanks to the influx of 0% financing deals that flooded the market with late model used cars.

While no car is an investment, any well cared for Honda should do well for you when its time to trade it in. I cannot say that fact that many of us are paying over MSRP is a great thing – I personally paid $500 over MSRP for an EX-L but got cross bars, cargo tray, wheel locks, paint protection, window etching and splash guards in the deal. I doubt we will ever see that money again, and adding $1000’s in accessories will also be a loss but they are our cars and we bought them for a reason – we liked them! So enjoy it, life is too short to worry about what your car will be worth 18 months from now. I’d like to think the Pilot is a car I will actually still own in 18 months! (my track record has not been great as of late, I sold one car after two months!)

My two cents…..stolen from the penny cup at the register….

- Jason
:20:
 

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Maybe Edmunds is pricing the 4-wheelers that Honda made several years ago. they were also called "Pilots" and supposedly cost over $10,000 to buy. That would be closer to the TMV than for the new SUV's. They are selling slightly over MSRP in my area, but they can't keep them on the lots, so I'm expecting the surcharges to start soon.
 
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