Car depreciation - why is my Lexus worth so little? | Ask Honest John

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Car depreciation - why is my Lexus worth so little?

Two years ago I bought a 2011 Lexus CT200 SE-L Premier with 12,000 miles on the clock. I paid about £24,000 and when it went in for an annual service this week (33,000 miles) I asked for a valuation against a new car - I was offered £13,750!

Is this an insult or was I ripped off when I purchased it? Or do Lexus CT200s devalue this quickly? £500 a month seems a tad excessive to me!

Asked on 25 October 2014 by Tunneller

Answered by Honest John

Lexus CT200s devalue that quickly. Your mistake was paying as much as you did for the car in the first place when most buyers didn't.

Tags: depreciation buying and selling

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