Little do the masses know that colour of the car actually plays an important role in determining the resale value of the vehicle. ISeeCars.com has been doing a major research on cars sold from 1981 to 2010 and it is discovered that bright and colourful vehicles are able to harness more money.
In detail, the automotive company revealed that a bright yellow paint can be sold for $1500 more than the black variants. ISeeCars’ CEO, Phong Ly, revealed that both black and silver are always the common choice when purchasing a new vehicle. However, when selling away the used vehicle, they carry much lesser value than the orange, yellow and teal variants.
It is unsure on whether the bright colours brought with it some psychological effects but it could be that their scarcity increases their value tremendously. Phong also claims that only 1.1% of the world’s cars are painted in either yellow or orange.
In today’s time however, more and more drivers are opting for white as their car’s original colour. Last year alone, 21% of all cars sold in America are white in colour. This is slightly above black and silver paint jobs. Then again, white is still not good enough to get more value for the vehicle.
ISeeCars left us with the depreciation value of the colours on a car after a 5 years period and it is as follow:
Yellow: 26.2%
Orange: 27.6%
Green: 31.3%
Teal: 31.4%
Red: 31.7%
Beige, Brown, Gold: 33.3%
Average: 33.6%
Blue: 33.6%
White: 33.7%
Silver: 34.0%
Gray: 34.2%
Black: 34.4%
