Most Cars Lose Value Over Time
Most new cars lose about half their value after five years, but it really depends on the type. Trucks, hybrids, and some sports cars keep their value longer. Luxury cars and unusual models can drop in value quickly, sometimes even before you need new tires. Each car is different when it comes to resale value.
One Honda Prelude owner in Japan just got a front-row seat to the depreciation show. After a year with Honda’s revived coupe, he rolled into his local dealership for a trade-in appraisal – not because he wanted to sell, but just to see how much the car had already dropped.
Cole Attisha
The One-Year Appraisal
According to Creative Trend, a Japanese site where the owner was one of the first in Japan to get his hands on the new Prelude, he simply wanted to know what the car was worth after 12 months of ownership. After racking up just under 10,000 kilometers (about 6,200 miles) and sharing his journey online, he asked his Honda dealer for a trade-in quote. The verdict? 4.2 million yen, or about $26,700 at today’s rates.
Here’s where it stings: the Prelude originally cost 6,179,800 yen (about $39,300), so the dealer’s offer was just 68% of what he paid – after only a year. Ouch.
The publication noted that Honda’s estimated three-year residual value for the Prelude is around 67%, based on typical monthly mileage assumptions. In other words, the owner’s real-world appraisal after one year was already close to what many buyers would expect after three years.
If you are thinking about buying a Prelude as a future classic or hoping it will keep its value, this is a good reminder to check the numbers. The owner also notes that this was only a dealer appraisal. Selling the car privately could lead to a different result.
Cole Attisha
The Coupe Still Delivers Where It Matters
The resale value might be a letdown, but the owner’s time with the Prelude has been anything but. After a year, the coupe has been rock-solid – no major issues, no weird noises, just a previously fixed front hood and a few gripes he previously shared. The appraisal came from the same Honda dealer that’s been handling all the service.
Fuel economy is another win. The owner’s averaging 56.5 mpg overall (converted), with long trips hitting anywhere from 59 to 71 mpg on local roads and 52 to 56 mpg on the highway.
Instead of banking on the Prelude becoming a collector’s item, the owner says it’s best enjoyed for what it is: a grand tourer that mixes sharp looks, daily comfort, and hybrid thrift. And despite the lowball trade-in, he’s not letting go anytime soon – he plans to keep driving it for at least another couple of years.
Cole Attisha
