When you purchase a vehicle, do you consider how the color of your car affects resale value? Many people don’t know how or why color matters so much. Let’s break it down so you know exactly what to expect when you go to sell your vehicle.
Not only does car color affect resale value, it affects the cost of ownership. Reasons for color costs vary, including manufacturers retiring colors, style and trend changes in the market, and trends based on where you live.
The most popular car colors in the United States include white, black, silver, and gray. These neutral colors never go out of style. When trending colors change, these four colors are timeless.
In the used car market, vibrant colors, like orange, sell well. Neutral colors are also popular, like beige and gold. The vehicle color that depreciates more than any other color is gold.
This is unique to the used car market, as these colors are not popular on the new vehicle sales market. The reason for this is the supply and demand of unique car colors. When looking for a specific make and model is an specific color, the demand goes up. Whereas, a popular make and model is more readily available, driving demand down.
A popular color for sports cars is red. While not popular for family vehicles, red is among the most popular choice for performance sedans. Luxury vehicles, including high-end SUVs tend to have a metallic or pearl paint finish. Land Rover, for example, sells white vehicles more than anything, with the metallic finish.
Where you live also determines what colors affect resale values. In warmer climates, having a light colored vehicle is more efficient. Since white reflects light, it’s a popular choice. It helps your air conditioner to not have to work as hard, making it better on fuel economy.
In colder climates and places with long winters, black and dark blue vehicles are a better choice. Because dark colors absorb heat, the heater doesn’t work as hard, making it better on fuel economy.
Overall, you have to think about what’s appropriate for the vehicle. A sports vehicle in an orange fury has a certain appeal. But a orange mini-van, not so much. When purchasing a vehicle think about what color is appropriate for the make and model. Putting some thought into the color will help you in resale value.
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