Nearly new car depreciation problem | Honda Civic News & FAQs

Hi,

I have recently bought the new Civic Type R, I think its a great car. However the company I work for has just been bought and my commute to the office has changed from 8 miles a day to 88!!

I was wondering as I will be averaging 24000 miles a year, when is the best time to sell in order to get as much of my money back as possible?
 

Many thanks
 

Hi

You have 56 days.

Then you will have put a year’s worth of real average mileage on your car and dropped it to 2007-registered prices.

If you sell now, at worst you will lose about £2,000. If you wait 56 days, potentially £3,000, then pretty quickly £4,000, then it starts getting worse.

One alternative is to keep it for 5 or 6 years and drive it to death.

Matt