What color car has the best resale value?
Many people think that the value of a used car is determined by the brand and the time of use. However, the color of the car can also help the used car to be resold for up to 10.7%.
In the minds of many people, a car is a valuable item. They want to choose a car that can retain its value after a period of use. This is the car buying psychology of the majority of Vietnamese users in general.
Used cars are determined by mileage, year of manufacture, brand or model, durability, and rating. However, few people know that color also greatly affects the resale price of used cars.
According to research byiSeecars.comWith over 2.1 million used car sales, bright yellow consistently fetches a higher resale value than other colors. Conversely, lemon yellow cars lose up to 27% of their resale value after 3 years, compared to 15% for regular cars.
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| Cars with unique colors like this Rare Green LEAF will have a higher resale value. Photo:Insideevs. |
Bright and vibrant colors have better resale values than average. For example, bright orange and green sell for 7.8% and 6.9% more, respectively.
However, if the user's color choice is more distinctive. There are two possible cases, a 10% decrease or increase in value compared to the average. If the user chooses beige, the user will lose up to 10.3% compared to the average. Conversely, purple will help increase 10.7%.
Meanwhile, cars with popular colors such as black, white, gray will not have much fluctuation. It is only around the average discount threshold.
Why does yellow help used cars retain their value? The answer comes from the law of supply and demand. Yellow cars are less popular than other colors. In addition, only a few SUVs or sports cars are produced in this color, most of which hold their value quite well.
On the other hand, yellow, orange and green only account for 1.2% of 3-year-old cars. Some special colors such as purple, yellow or beige only have 0.7% of the market in terms of transaction value across all segments.
