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Discussion Starter #1
I have a 2015 Pilot LX with 73k miles. I'm kind of on the fence on whether to keep it 5 more years or trade it in now while it is still worth over 10k and put that down on a new pilot or probably Odyssey (I have 3 kids). I am about to have my pilot paid off.

Pro to keep it is obviously no car payment.

Pros to trade is I would have a newer vehicle, trade in pilot for at least 10k lowers the new car payment, warranty, no worry of breaking down, dont have to spend the money doing the timing belt coming up soon, and no maintenance costs on the new vehicle to worry about for several years.

I just wanted some other people's thoughts and opinions on this.
 

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Is this a financial question or a "I want" question?

Financially, it's going to be best to keep it. Period. Even if you don't DIY maintenance stuff, you won't have that much to spend on it. The timing belt service is CHEAP compared to car payments. Yes, when you go buy the new car, you get a warranty, but you also get RAPID and MASSIVE depreciation. The depreciation on what you have really starts to slow down.

There are pros and cons to both sides.... but financially, there is no question. Take your current payment, and keep making it..... just pay it to yourself. $500 per month over the next 5 years, saved in a high yield account will result in $31,000 in CASH to put toward your next vehicle. Think about having that new car, AND no payment!

Pay yourself first. How we buy automobiles in this country keeps a huge percentage of the population from ever achieving financial success.
 

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I'm definitely in the keep column. I think you got a better vehicle than what Honda is putting out now. But if you insist on getting a new one, your vehicle is worth more than 10k. Especially if it's AWD. Closer to 15k.
Keep, Keep, Keep.
Bank that money.
 

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If you are handy and can manage maintenance and small repairs yourself, I'd say keep it. Unless you really can't handle the base model LX version and need to upgrade. The old adage I've always heard (and maybe one day will use) is to continue your car payments, but dump it into a separate account. Use that account for major repairs that come up and eventually you will have more than enough saved to put a huge down payment down on something.

Knowing the years and mileage, I'd say you have a ton of life left in that vehicle so this is more emotional than logical.
 

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I too have a '15, EX-L, with 175k km's on it (about 110k miles). I looked at trading in as well. Trade in value here is about 15-17k Canadian. A new Pilot in similar trim would cost me about 45k + tax. Kind of easy decision, keeping mine hopefully for another few years of no payments, as opposed to a new one with 500+ / month payment for 5 years..
 

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I too have a '15, EX-L, with 175k km's on it (about 110k miles). I looked at trading in as well. Trade in value here is about 15-17k Canadian. A new Pilot in similar trim would cost me about 45k + tax. Kind of easy decision, keeping mine hopefully for another few years of no payments, as opposed to a new one with 500+ / month payment for 5 years..
Take half of that and put it in an account every month to be used on repairs/maintenance/future down payment. In 5 years its $15k less what you spent on the Pilot.
 

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I’m at the same cross road with my 2015 payments are done. The boss says the reason why she keeps her 06 is what she puts in it it’s hers not the bank. Besides my 2015 I had it since day one with it I know the history and so far no major issues other than the usual maintenance crap needed. And tires who the hell built these things to eat tires . Before someone smart replies stop buying cheap tires I doubt 800 for a set is cheap.
 

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Keep the 2015 until about 2029, when the second timing belt change should be due, then sell it.
By that time most vehicles will probably be either all-electric or plug-in hybrid.
 

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I’m at the same cross road with my 2015 payments are done. The boss says the reason why she keeps her 06 is what she puts in it it’s hers not the bank. Besides my 2015 I had it since day one with it I know the history and so far no major issues other than the usual maintenance crap needed. And tires who the hell built these things to eat tires . Before someone smart replies stop buying cheap tires I doubt 800 for a set is cheap.
To me $50 is expensive right now. I did the Pilot tires 2 years ago, the Sonata tires last year and the Traverse is next weekend. These things are killing me!

I did go with the Pirellis in the XL load rating, we will see if what makes it XL rated is limited to the structure or if the tread is a little stiffer and more durable as well. 2 years and 30k in no complaints so far.

If you have the money then trade up. You only live once!
There is some credence to this. I'd rather save up for a C8 Vette or Yukon Denali or something a little more aspirational than a new Pilot but to each their own.
 

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Got a 2013 EX here with about 100k that I got zero desire to trade. There is practically nothing on the market that appeals to me. 2016+ Pilots looks like minivans, and pretty much any new SUV that does not look like a minivan, costs about double of the Pilot. I keep hearing about numerous quality issues on newer model (people having to replace fuel injectors at 40k?) And my personal pet peeve - no tailgate glass hatch. I use that thing in my Pilot on a daily basis. All those new 'features' like VCM, engine auto start-stop seem to be designed more to wear out the car faster. With current auto market, I hope my '2013 lasts me another 10+ years. This considering I could easily lay down cash for a new car today if I felt like it.

IMHO, good reasons to replace a car are:
Your current one is falling apart, has become unreliable, gets you stranded now and then, real expensive repairs looming.
There is a model out there that is REALLY calling to you - the 'gotta have it' feeling. There was nothing wrong with my '07 Pilot, but 2012-15 series for me was love at first sight :love:
Change of circumstances - like family growth calling for something larger, or moving to an area where you gotta have all-wheel drive. Or some oil crisis takes gas to $7/gallon and likely to go even higher.

"Cause it still has good trade-in value" is most definitely a very dumb reason. The reason it has good trade-in value is cause it has VALUE. Cause dealer knows they can take your trade-in and turn a profit. Means it is a good vehicle that should last you quite some more years without letting you down. Say, today its trade-in is 10k, 5 years from now it may be 4k. So you 'lost' 6k. You also might be looking at 4-5k worth of expenses (timing belt/tires/brakes etc) If you go for a new car, 5 years from now you are out 25-30k How does 0 payments for next 5 years sound?
 

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Discussion Starter #13
Thanks for all the replies. I'm definitely leaning toward keeping it. We were looking at minivans bc we have 3 kids now and they are just easier to get in and out of with the sliding doors and stuff, but they want a fortune for minivans now! Getting an Odyssey EX and trading in the pilot for at least 10k would still leave me with a payment of $450 for 5 years.
 

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To me $50 is expensive right now. I did the Pilot tires 2 years ago, the Sonata tires last year and the Traverse is next weekend. These things are killing me!

I did go with the Pirellis in the XL load rating, we will see if what makes it XL rated is limited to the structure or if the tread is a little stiffer and more durable as well. 2 years and 30k in no complaints so far.


There is some credence to this. I'd rather save up for a C8 Vette or Yukon Denali or something a little more aspirational than a new Pilot but to each their own.
I'd go for the Camaro myself. It looks way cooler than a Vette. But as you said, to each their own. ?
 

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I'd go for the Camaro myself. It looks way cooler than a Vette. But as you said, to each their own. ?
The idea of a $60k car with mid-engine and almost 500hp V8 under the "hood"... It sure sounds like a performance deal to me... I'd probably end up kicking myself for not getting something with a manual though.
 

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The idea of a $60k car with mid-engine and almost 500hp V8 under the "hood"... It sure sounds like a performance deal to me... I'd probably end up kicking myself for not getting something with a manual though.
I'll take the auto. Manual is too much work and I did my time with that lol. Plus it might make me wanna drive faster which would be bad lol. You're never gonna be able to take advantage of all that power anyway.
 

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I'll take the auto. Manual is too much work and I did my time with that lol. Plus it might make me wanna drive faster which would be bad lol. You're never gonna be able to take advantage of all that power anyway.
Yea this is why I haven't bothered... where I live in MD I'd have to drive to NJ Motorsports Park or VIR for a track day. Now that I have kids I really don't like driving irresponsibly on the roads because I want others to do the same with my kids in the car. Now I know why stoplight drag racing is such a thing, that can be done without being dangerous and within legal limits (mostly).

To go back on topic... OP, what did you decide?
 

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Got a 2013 EX here with about 100k that I got zero desire to trade. There is practically nothing on the market that appeals to me. 2016+ Pilots looks like minivans, and pretty much any new SUV that does not look like a minivan, costs about double of the Pilot. I keep hearing about numerous quality issues on newer model (people having to replace fuel injectors at 40k?) And my personal pet peeve - no tailgate glass hatch. I use that thing in my Pilot on a daily basis. All those new 'features' like VCM, engine auto start-stop seem to be designed more to wear out the car faster. With current auto market, I hope my '2013 lasts me another 10+ years. This considering I could easily lay down cash for a new car today if I felt like it.

IMHO, good reasons to replace a car are:
Your current one is falling apart, has become unreliable, gets you stranded now and then, real expensive repairs looming.
There is a model out there that is REALLY calling to you - the 'gotta have it' feeling. There was nothing wrong with my '07 Pilot, but 2012-15 series for me was love at first sight :love:
Change of circumstances - like family growth calling for something larger, or moving to an area where you gotta have all-wheel drive. Or some oil crisis takes gas to $7/gallon and likely to go even higher.

"Cause it still has good trade-in value" is most definitely a very dumb reason. The reason it has good trade-in value is cause it has VALUE. Cause dealer knows they can take your trade-in and turn a profit. Means it is a good vehicle that should last you quite some more years without letting you down. Say, today its trade-in is 10k, 5 years from now it may be 4k. So you 'lost' 6k. You also might be looking at 4-5k worth of expenses (timing belt/tires/brakes etc) If you go for a new car, 5 years from now you are out 25-30k How does 0 payments for next 5 years sound?
It sounds perfect to me, have to admit I get new car fever from time to time but I agree there are not too many out there I would buy, Toyota Highlander or 4Runner would likely be what I would buy but my 2012 EX-L AWD only has 76k on the clock and with no car payments for the next 4 years I can pay my house off, which is the current plan.
 

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Yea this is why I haven't bothered... where I live in MD I'd have to drive to NJ Motorsports Park or VIR for a track day. Now that I have kids I really don't like driving irresponsibly on the roads because I want others to do the same with my kids in the car. Now I know why stoplight drag racing is such a thing, that can be done without being dangerous and within legal limits (mostly).

To go back on topic... OP, what did you decide?
I go to the NJ motorsports Myself not bad of a place
 

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Discussion Starter #20
Thanks for the replies. I have decided to keep it. Hopefully at least more years. Not having a car payment is very enticing
 
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