KANSAS CITY, Mo. — When you buy a car you probably consider the price and the model and maybe even the gas mileage. But if you plan to resell that car, you should also think about the color.
A new study had some surprising findings about what colors really hold their value.
Almost anywhere you look there’s a sea of black, white and silver cars on the road. That’s a problem if you want to resell a car in one of those colors.
Karl Brauer is an executive analysts at iSeeCars.com. iSeeCars just released a national study comparing the depreciation value of 6 million cars based on their colors.
“If you want something to retain value, you have to go for something a bit more exotic,” Brauer said.
So what colors hold its value best?
Shockingly the best color for holding a car’s value is yellow. Brauer said the reason is simple supply and demand.
“There are more people out there who want a yellow car than there are yellow cars, Brauer said.
Yellow cars had a three-year depreciation rate of 20.4%. Compare that to silver cars, which depreciated at nearly double that rate at 37.6%.
Rarity also explains the next two top choices. Beige and orange cars. They hold their value far better than say a white car.
“If you want a white car, you’ll find them all day long,” Brauer said. “The same with black and silver.”
But beige and orange cars, particularly SUVs, are harder to find. So people who want one are willing to pay more.
There were however unusual colors that didn’t fare well in the resale game. Purple, brown and gold cars all had among the highest depreciation. With two exceptions. Dodge challengers and coupes. Brauer said people who buy those cars actually prefer a wild color scheme.