Detroit Pistons (2002–2008)
After his breakthrough season, Billups became a free agent. Billups wanted to return to the Timberwolves, but the team wanted to see how Brandon would respond to his knee injury.
In July 2002, Billups signed a 6-year, $34 million contract with the Detroit Pistons to be the team's new starting point guard. When he signed with the Pistons, he was forced to take the number 1 because number 4 was retired in honor of Joe Dumars. Billups quickly earned respect from Pistons fans and colleagues for his tenacious defense and clutch shooting.
In 2002–03, Billups helped Detroit finish first overall in the Eastern Conference with a 50–32 regular season record. Billups earned the nickname "Mr. Big-Shot" during the regular season for two events. He first made a game winning three on March 9 as time expired to beat the Golden State Warriors 107–105 and Billups scored 31 points. The second event was just over two weeks later on March 26. The Pistons were tied in overtime with the Atlanta Hawks 99–99 until Billups made a top-of-the-key triple with 0.5 seconds left to win the game. Billups finished with 22 points against the Hawks. In the 2003 playoffs, the top-seed Pistons surprisingly fell behind the upstart 8-seed Orlando Magic in the first-round series 3 games to 1. In game 5, Billups played a contributing role in his team's dominating 98–67 victory by scoring 15 points, tied for second on the Pistons. Having helped the Pistons stave off elimination in game 5, Billups scored 40 points in game 6 to help the Pistons force a seventh game. In the decisive game 7, Billups scored 37 points to help clinch the series 4–3.
Detroit then beat the Philadelphia 76ers in the Eastern Conference Semifinals, 4–2, to advance to the Eastern Conference Finals. However, Detroit was swept by the New Jersey Nets, 4–0. Rick Carlisle was fired as the head coach in the offseason and Larry Brown was hired.
In the 2004 season, Billups averaged 16.9 points, 5.7 assists, 3.5 rebounds and 1.1 steals per game. The Pistons improved their record to 54–28, but it was only good for the third seed overall in the Eastern Conference playoff standings.
In the pivotal game 3 during the first round series against the Milwaukee Bucks, which was tied 1–1, Billups led all scorers with 21 points and finished the scoring for his team by sinking 4 of 4 free throws in the final 31.2 seconds. These free throws were a key part of the Pistons effort to stave off the Bucks' relentless defense which kept Detroit from scoring a normal field goal during the last 5:34. In the Eastern Conference Semifinals versus the defending Eastern Conference Champions the New Jersey Nets, Billups banked in a half-court three as time expired in game 5 to send the game into overtime. The Pistons would lose in triple overtime. Finally, he helped Detroit overcome a 3–2 series deficit to win the series, 4–3.
In the Eastern Conference Finals against the Indiana Pacers, the Pistons won the gritty, defensive series, 4–2, by an average score of 75.2 PPG to the Pacers' 72.7 PPG.
Billups helped Detroit win the 2004 NBA Finals over the heavily favored Los Angeles Lakers, 4–1. He averaged per game 21 points, 5.2 assists, 3.2 rebounds, 1.2 steals, as well as shooting 50.1 percent field goals, 47.1 percent three-pointers and 92.9 percent free throws to earn the NBA Finals MVP Award. Billups said of his MVP award, "Everybody deserves this. Not just me. I wish I could turn it into thirteen pieces and give a little bit to everybody."
The following season, Billups was named to the 2005 NBA Second All-Defensive Team, along with teammate Tayshaun Prince, while teammate and co-captain of the Pistons Ben Wallace took home the Defensive Player of the Year Award. The Pistons reached the 2005 NBA Finals but lost in their bid to repeat as champions to the San Antonio Spurs in seven games.
In 2006, Billups was co-captain of the team. Billups was selected to play in the 2006 NBA All-Star Game as a reserve for the Eastern Conference, along with teammates Rip Hamilton, Rasheed Wallace and Ben Wallace. Pistons head coach Flip Saunders coached the Eastern Conference squad and put all four Pistons in the game when the east was falling behind; they were able to get the Eastern All-Star team back in the game. During the 2006 NBA All-Star Weekend, Billups participated in the Three-point Shootout contest. He was eliminated in the first round of the contest after scoring 12 points. Billups called this moment when all four Pistons entered the game at the same time, one of the highlight moments of his career. Although he captained the Pistons to a franchise best 64–18 record, they failed to make it to the NBA Finals for the first time in three years.
In the 2007 NBA All-Star Game, Billups was chosen as a reserve, along with teammate Rip Hamilton, for the Eastern Conference, despite an injury that kept Billups out of five games early on in the season. Billups also took part in the Shooting Stars Competition alongside former Piston and Detroit Shock head coach Bill Laimbeer and Shock star Swin Cash. Team Detroit won the competition with Billups hitting the final half-court shot.
On July 11, 2007, Billups signed a $46 million, four-year contract with the Pistons (which includes a team option for a fifth year at $14 million). He had been an unrestricted free agent for several days after he opted out of the previous contract, which he had signed in 2002. Billups was selected to play as a reserve in the 2008 NBA All-Star Game, along with teammates Richard Hamilton and Rasheed Wallace, an injury replacement.
In the first round of the 2008 NBA playoffs, during game 3 against the Orlando Magic, Billups injured his right hamstring when Orlando Magic guard Jameer Nelson tangled with Billup's left leg on a drive to the bucket. Billups would sit for the 3 remaining games of the series. Billups and the Pistons again made it to the Eastern Conference Finals against the Celtics, but lost the series, 4–2, to the eventual champions.