The 41-year-old comedian, also known as Mr Gilbert in the E4 comedy, said he had become cynical about the celebration after a string of disappointing nights out.
"I have a long history of absolutely every single New Year's Eve in my entire life being rubbish," he told The Mirror. "I don't think I've ever enjoyed one. I've always ended up in some terrible bar.
"These days I focus on just trying to find somewhere to sit down. I spent one New Year's Eve about five years ago walking around London with a group of friends because we forgot to book somewhere. We spent our New Year just standing outside a club in the rain and then we all went home."
He further explained that more recent New Year's Eve outings had been ruined after he overestimated his tolerance for alcohol.
"When you hit 40 your body can no longer tolerate alcohol," he said. "The problem is that it doesn't stop me drinking the same amount that I would have done ten years ago. So, for the last three years, I have spent all of my New Year's Days unable to move and very close to tears."
Davies did, however, admit to being amused by a New Year's Eve fancy-dress celebration in the Cornish town of St Ives, describing the experience as "like being on drugs without being on drugs".
"Everyone there dresses up, the whole town does it. It's really strange but good," he said. "They were all in really elaborate and bizarre costumes."
Davies has told Digital Spy that he was too much of a "wimp" to become a comedian in his youth.
> The Inbetweeners Movie: Mr Gilbert's deleted scene - video
Watch Digital Spy chat to Greg Davies below: