Categories : Auto Repair

 
Vehicle Color Counts When It Pertains to Resale Value

CARS.COM —– Real estate professionals advise house owners seeking to sell their home at a tidy earnings to paint the walls neutral colors. The used-car market is the opposite —– the brighter the paint job, the bigger the dollars. That’s according to a brand-new research study by online automobile research site iSeeCars.com, which analyzed 1.6 million used-car sales over the past year. It discovered that orange, yellow and green automobiles see the lowest devaluation rates. Vehicles in that brilliant trio of colors depreciated in between 21 and 25 percent over three years, with orange dipping the least in cost at 21.6 percent, followed by yellow at 22 percent and green at 24.5 percent. Compared to the almost 30-percent depreciation rate of the typical car, orange vehicles depreciated 27 percent less, yellow cars 26 percent less and green vehicles 18 percent less. That’s despite cars in such strong hues representing less than 2 percent of all automobiles. “Color does matter when it concerns an automobile’s retained value,” iSeeCars said in a statement. “The more uncommon colors, such as orange, yellow and green … are popular with enough car purchasers to create a need that straight impacts their resale value.” By contrast, the most popular colors amongst U.S. vehicle purchasers —– white, black and silver —– depreciated 29.5 percent, 30.2 percent and 30.6 percent, respectively. The worst depreciating car color was gold, at 33.5 percent. Researchers speculated that the factor bright-colored vehicles can bring a higher cost is simple supply and demand. A lot of vivid paintjobs are on sports cars and muscle vehicles, which represent a much smaller sized market segment than, state, sedans or SUVs. Plus, these types of vehicles are not often used as everyday drivers, implying they leave the garage less and are sold with far less clicks on the odometer. “For example,” said iSeeCars CEO Phong Ly, “the average mileage of three-year-old sports cars is just 27,210, and 26,822 for muscle vehicles, compared with 36,324 on average for all automobiles.” On the other hand, popular colors like white, black and silver depreciated closer to the average car since buyers have more options on the marketplace, watering down sellers’ price-commanding power. As for gold, iSeeCars says automobiles in this color are usually sedans, for which demand has dropped in the last few years as sustained low gas rates have actually emboldened purchasers to eschew fuel sippers for less-fuel-efficient SUVs and pickup trucks. In any case, you no longer need worry that extravagant self-expression and financial responsibility are at chances. Beige be gone and let those inner neon colors fly! News Editor Matt Schmitz is a veteran Chicago journalist indulging his interest for all things car while assisting to inform car consumers. Email Matt
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