2012 Van vs 2025 Van

[LadyLJCO]

Hi-
We have an opportunity to potentially purchase a used 2012 Odyssey for $9-$10k, 112k miles, from a friend. This feels like a no brainer, compared to a brand new minivan in the range of $40k -$50k. Even used 2020 and newer models are going for $35k plus.
What am I not considering? Gas mileage of the older model? Losing out on the shiny warranties of a newer buy?
Current car is a 2006 small SUV with 157k miles. The interest in the van is more space for our kids and lugging all the things all the time. We also go on 2-3 road trips a year and the van is nice for that.
We have no debt other than mortgage and investments plus house equity put us close to $1.8 million NW.
Thoughts?! Talk me into the 2012 van! Or some other better plan….

[Brystheguy]

I always like to look at the cost to get me to 200k miles on a vehicle. That's when I would think about getting rid of it so that's my base. If I feel it would last longer we keep driving it. If it's getting sketchy, sell it. Anyway, the math looks like this.
Used Honda to 200k is $10k/88k miles is 11.3 cents per mile.
New van to 200k is $45k/200k miles is 22.5 cents per mile.

[Dicey]

Mic drop for @Brystheguy!

[Bartlebooth]

My fate of splurging on the 2018+ Odyssey was sealed once my SO saw the seats that can slide sideways in the middle row.  So, check that feature out at your own risk.

To be fair, it probably is the biggest innovation in minivans in the past 10 years.

We ended up with the top trim 2018 with 75k miles for $29k I think (last summer).

[LadyLJCO]

Thanks so much for the responses! We test drove new Siennas this past weekend and liked them but the cost…it’s just a lot of money for something that is probably more a want than a need.

Felt good not to buy one this weekend!

[FLBiker]

I always like to look at the cost to get me to 200k miles on a vehicle. That's when I would think about getting rid of it so that's my base. If I feel it would last longer we keep driving it. If it's getting sketchy, sell it. Anyway, the math looks like this.
Used Honda to 200k is $10k/88k miles is 11.3 cents per mile.
New van to 200k is $45k/200k miles is 22.5 cents per mile.

As someone who doesn't know much about cars, I really appreciate this simple formula for comparing different options.  Thanks!

[Paper Chaser]

Have you checked values for that year/model? $9-10k seems like it's pretty much fair market value (depending on trim level/condition):

https://www.autotrader.com/cars-for-sale/all-cars/honda/odyssey/san-diego-ca?endYear=2013&mileage=100000&searchRadius=0&sortBy=derivedpriceASC&startYear=2011&zip=92117

You can find a few Odysseys for less, with under 100k miles.

I'm fairly certain that those vans need a timing belt replacement around 100k miles too. So if the one you're considering has not had that done you should prioritize it and budget for that replacement. Cost varies depending on who's doing the work, and how much "while I'm in here" stuff is done at the same time, but can be $1k without much difficulty.

Also look at the tires. A new set of tires can easily be $1000 these days, which can erode any savings that you might get by buying a "good deal".

[LadyLJCO]

We ended up buying a 2025 Odyssey the day before the tariffs were announced. Maybe a bit of a panic purchase but surprisingly I don’t have any regrets. The Honda was about $10-15k below the Toyota and honestly, just looks and drives better. We will keep it 20 yrs and enjoy the warranties and van life for our roadtrips. We did end up paying cash; felt better than accumulating debt during these sketchy times we live in!

Funny enough - the friends selling the 2012 Odyssey went with a 2025 Sienna. I can’t wait to compare notes/vans as they age.

[Canadian Helmet]

I have been a big Sienna fan or a while now.  When my 06 Sienna was crashed into and written off for a damaged side door, I was instantly in the market for a newer one.  Up here in Canada there is a long waiting period for new Sienna's.  The Toyota dealers I called had an estimated waiting period of 3 to 4 years, even the one that I drove by and had one on their lot.  This was just about 12 months ago now.  I ended up buying a 2011 Sienna.