These colors will make your car a more valuable investment.
Is the car’s color affecting its resale price? According to a study by iSeeCars, there is a direct correlation between your car’s color and its resale price. This color guide is a great way to find a car that has a high resale price.
The iSeeCars team conducted a study on 650,000 three-year-old cars to see how color affects the rate of depreciation. This data was further broken down into specific segments of vehicles to reveal the preferences of different car buyers.
Yellow is the best color to fight depreciation in the overall used car market. However, the average depreciation for yellow cars was only 4.5%. Yellow was also a safe investment because of its low popularity. Orange came in second place with a 10.7% depreciation rate, and purple third with 13.9%. The average depreciation rate was not as high as the average and all but purple, red, green and blue were within a tenth each other in the 14% range.
Because they are rare, loud colors tend to be more desirable on the used market. According to iSeeCars yellow is one of the most in-demand car colors. It is also a popular color for sports cars, and other low volume vehicles. However, it holds its value quite well. People are willing to pay more for yellow cars because they are new in the secondhand market.
Which car colors will hurt your vehicle’s worth? White is at 15.5%, which is 0.5% less than the average. Black at 16.1% is next followed by gold, 16.7%, and brown, 17.8%. These cars are not distinguished on the used market because they come in common colors like black and white. However, gold and brown are rare colors that aren’t desirable by used car buyers who avoid them.
This data suggests that it might be time to ditch boring colors for something more interesting. You will not only be able to spot your car in the parking lot more easily, but you’ll also make more on the used market.