Car Color Really Impacts Resale Value in Eastern Iowa
For anyone who's ever seen a "Fast & Furious" film, and I wager that's almost everyone since there are about 27 of them, you know cool car tricks are a thing for the movies. Well, I hope you do and don't try the stunts on Iowa roads.
In that series, and any that centers on cars, it's as much about the cool paint job as it is the make and model of the vehicle. But in the real world, there aren't too terribly many paint options. At least not ones that come standard.
Have you ever wondered if the color of your car impacts the value you'll get one day when you trade it or resell it? Or, have you always assumed it's more about the type of vehicle, amount of miles, and the condition?
As it turns out the car color does have an impact on the amount you can get for reselling a vehicle. In fact, a new study from I See Cars reveals the colors best for resale.
The site took into account a 3-year percentage of depreciation. The results? The car color that keeps its value the longest is yellow. Yep, a color that the same site also says is one of the least popular colors for a car.
So why does yellow hold its value better than, say, blue or gray? It's because it's such a rare color. If someone really wants yellow, they'll pay more for it. I guess that's simple simply and demand, right?
According to the study, a yellow car only loses about $3,155 or, 4.5% of its value after 3-years.
How well do other colors do when it comes to keeping value? Well, Orange and purple were numbers two and three (yep, also very rare and overall unpopular car colors). Then red, green and blue. Each of those colors loses roughly 14% resale after 3-years.
The colors that lose the most are white, black, gold, and in dead last, brown which drops about 17.8% value after 3-years.
See how each color fared here.