Report: Car color has impact on resale value
(CBS 58) – A car’s color may have an impact on its resale value, according to a report by car search engine iSeeCars.com.
The site says after analyzing more than 2 million car sales, certain color cars depreciate faster while other color cars are more likely to retain their values.
The report by iSeeCars.com’s says the average car depreciates by about 33.1% in three years. Yellow, orange, and green cars hold their values the best with yellow cars depreciating by only 27%. Gold, purple, and beige cars on the other hand depreciate more than 10% worse than the average car. White, black, and gray cars depreciate at rates closer to average.
Body styles in certain colors can also have an impact on the resale value of a car.
The report says color also has an impact with how long a car stays on the market. Beige, yellow, and red cars spent more than 40 days on the market whereas purple, gray, and gold cars were able to be moved faster.
To see the report and compare the color of your own car, please click here.