After several years of ownership, you may decide to sell your car. Several factors will come into play when determining its resale value. While accident history, vehicle make and model are all essential, it may come as a surprise that the paint is also an important factor.
Paint color and quality have the greatest effect on resale value. Rather than wonder why a similar vehicle is getting a higher price, here’s what you should know.
Car Paint Color
Multiple studies, including recent data from iSeeCars.com, have identified key differences in how paint color can affect a car’s resale value.
In general, common colors like black, white, beige and silver do not add to the car’s value. In fact, beige may actually depreciate a vehicle’s value at a faster rate.
On the other hand, less common colors do not depreciate as steeply. The iSee study found that yellow and orange experienced depreciation rates of 27 and 30 percent, respectively. Black and silver, both considered neutral or common colors, saw greater dips at 33.6 and 34 percent.
Yet, the relationship between car paint color and resale value is not completely cut and dried. Other aspects come into the picture, including:
- Vehicle Type: Are you trying to sell a sedan, convertible, SUV or truck? Neutral shades tend to be more favorable and experience greater demand. These vehicles are considered practical and easier to maintain. Less common vehicles, including muscle cars and convertibles, see higher resale values with brighter colors.
- Production: Color popularity and demand correlate with vehicle production. Although a certain number of models may be produced, colors vary. Certain shades reach collector status because they have to be sourced – not all dealerships carry them.
- Popularity and Requests: Uncommon doesn’t always mean exclusive. Certain shades can experience periods of decreased popularity. In turn, these colors cause the vehicle’s value to depreciate more. Based on the data from iSee, purple, brown and gold are less likely to maintain their value. Based on a profile in the New York Times, car manufacturers have a team looking at market trends to predict car colors for the next five years.
- Care and Appearance: Popularity and demand from buyers might mean you’ll see more cars in a particular color. For instance, white experiences more depreciation than orange and yellow, yet it’s preferred for its ability to keep cool in warm climates and not accentuate scratches as prominently.
- Location: Dealerships in one part of the country may experience demand for certain colors than another. As such, resale value can vary based on where you sell your vehicle and the region’s trends.
While paint color can affect resale value by a couple thousand dollars, its quality, including scratches and dings, plays a factor. You may see a lower value if:
- You didn’t regularly wash your vehicle when you owned it
- Scratches, swirls and dings have built up on the surface
- Dings and scratches resulted in superficial rust
- You didn’t get the car detailed before selling it
- You’ve put bumper stickers and other adornments on the exterior
Whether you’re looking for a touchup or full paint job, DaSilva’s Auto Body specializes in auto painting. We utilize spray booths to deliver the most even and debris-free results. To learn more or schedule an appointment, contact our Naugatuck shop today.