Can Car Color Determine Resale Value?

February 6th, 2019 by

Can Car Color Determine Resale Value?

Do you keep your car until it wears out or do you sell it after only a few years? If you’re the type to sell or trade in a vehicle after a short while, you want to maximize the value you can get back from it. One factor that many car buyers don’t consider is how color affects resale value. If you’re considering colors for a new car, take these facts into consideration.

The Most Popular Colors

Not too surprisingly, popular colors like silver, black and white are the easiest to sell in new cars and in resale cars. A study by Kelly Blue Book  showed that silver was the most popular overall color across nearly all vehicle types. White and black came in just under silver for popularity with the exception of Trucks, SUVs and Minivans where white is the top color and silver is the second most popular.

However, being a popular color does not necessarily translate to having the best resale value. These popular colors may be easier and faster to sell but they don’t necessarily retain maximum value.

Yellow and Orange

When it comes to depreciation, orange, yellow and green cars lose less of their value as they age. Though these colors are not as popular, that rarity makes them more desirable in the resale market.

Gold

The biggest loser for both depreciation and popularity is gold. Though gold ranked in the top 10 for colors for all categories in the Kelley Blue Book report, its most popular category was in luxury cars and it still only accounted for about 3% of vehicles in that group.

More importantly, gold cars saw the most depreciation after 3 years with 33.5% depreciation versus the 21.6% depreciation on orange cars which retained the most value.

Choosing Your Car Color

While resale value may be an important factor, color is still a very personal choice for most people. Flashy colors like red can be eye catching and exciting while grey and silver look high-tech and green, orange and purple are unique. At Lebanon Chrysler Dodge, we carry both  new and pre-owned vehicles in popular, unique and custom color options. Find your perfect color by visiting us today for the latest specials.