2020 Honda Pilot Resale Value: How Much Has The SUV Depreciated?

Honda has sold over 2.3 million Pilots since the model was introduced in 2003, and it's generally regarded as a safe bet for buyers looking for a sensible, capable family hauler. Some Pilot model years are known to be less hassle-free than others, but the 2020 Pilot isn't a model year that's worth steering clear of. At launch, the 2020 Pilot started from $32,645 (including a $1,095 destination fee) in front-wheel drive base form, while a range-topping all-wheel drive Pilot Black Edition cost at least $50,715. Buyers looking for a used example today will pay far less thanks to more than half a decade of depreciation.

Japanese SUV models tend to hold their value well, with most of the worst depreciating SUVs being luxury models from European or American brands. The Pilot is no different, although a 2020 Pilot's exact value in 2026 will vary based on its trim, condition, and mileage. According to Kelley Blue Book (KBB), the average used 2020 Pilot is worth $17,800 today, while data from iSeeCars places its average resale value a little higher, at $20,790.

CarEdge's analysis suggests that a Pilot will hold onto 46.24% of its initial value after six years on the road. Using the 2020 model year's MSRPs (including the destination fee), we can calculate that a base-spec Pilot would be worth $15,095 today, while a top-spec Pilot Black Edition would be worth an average of $23,450.

The significant savings compared to the 2026 model make older Pilots an appealing option for buyers on tighter budgets, but there are a few differences between Pilot generations that are worth being aware of. The 2020 model year was part of the third generation of the car that first launched in 2016 and remained on sale through 2022. It featured a significantly larger range of driver assistance features than the second-generation model, as well as a more powerful 3.5-liter V6 engine. As standard, the 2020 Pilot offered 280 horsepower.

The 2019 model year saw the Pilot receive styling updates and a larger suite of standard safety tech, as well as a revised transmission. The only change for the 2020 model year was the introduction of the Black Edition trim, which replaced the Elite trim as the priciest option in the range. Honda launched the current fourth-generation Pilot for the 2023 model year, although with an average resale value of $25,800 according to KBB, the 2023 Pilot is significantly pricier than a 2020 model.