Does The Color Of Your Car Affect Its Resale Value?
"A rose by any other name would smell as sweet" - William Shakespeare
If you think about it, the color of the rose doesn't make any difference either. But have you ever wondered if the color of a car affects its trade in value?
How People Pick The Color Of Their Car
People pick the color of their car for many reasons. It may be a reflection of their personality or the desire to make a statement about their status, and even wealth.
Colors are often chosen based on comfort, practicality and aesthetics. Some of the most popular car colors are white, black, silver, gray and red.
One of the reasons people may choose white is because it looks clean and sleek. It also has a modern look to it. Plus, white can go with any type of interior.
Black is popular because it is thought to be classic and sophisticated. It also won't show dirt as easily as other colors.
Silver and gray are both neutral colors that go with just about anything. They are good choices for those who want a sleek, modern look.
Red is thought to signify power and strength. It is also seen as a more exciting color than some of the other options.
Some people choose the color of their car based on what is popular at the time. Others may want to be different and choose an unpopular color. There are also those who believe that certain colors are luckier than others.
iSeeCars recently released an article detailing Which Colors Help and Hurt a Car's Resale Value. They reported:
A vehicle’s color can have a substantial impact on how quickly it loses value, with the highest depreciating color losing nearly four times the value compared to the lowest
Popular colors, including white, black, and silver, have minimal impact, meaning they won’t hurt resale value but they also won’t help a vehicle maintain its value
Some of the most beneficial colors for retaining value, including yellow and orange, may surprise consumers
A car’s color can help or hurt its resale value, according to a recent analysis by iSeeCars.com. After comparing prices of more than 650,000 recently sold three-year-old used cars, iSeeCars determined the average three-year vehicle depreciation rate by car color.
“A vehicle’s color is among the primary considerations after shoppers have decided on a make and model,” said iSeeCars Executive Analyst Karl Brauer. “With depreciation being the largest cost of vehicle ownership, consumers should carefully consider their color choice–especially if they plan on selling their vehicle.”
Be sure to read the entire article here
Should We All Just Buy Yellow Cars?
While the numbers speak for themselves, there are other factors you should consider before jumping on the Yellow car bandwagon. Do you really want to drive a yellow car ? If the answer is no, then it doesn't matter how well it holds its value.
The same goes for any other color. If you love the color purple and it just so happens to have a good resale value, then go for it!
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