Customising our dream car is quite an added delight since it garners us a greater sense of ownership and identity. With various colours to choose from, have you ever wondered why is it that we see only those same few dull-coloured cars but rarely eye-catching bright-coloured ones? Could it be that drivers just have the same taste?
No, simply put, most if not all drivers have the same consideration of vehicle ownership costs and the resale value. What this means is that the colour of your car could boost or bust its value at resale, with the concept of demand and supply at play.
That being said, rare colours do not account for lower depreciation – such as in the case of gold-, purple- or beige-coloured cars, which are the worst at holding their value according to a study by a website, iSeeCars.com. On the flip side, cars that hold their value well are also not the ones that sell quickly – for example, yellow cars that are relatively less common, which could see an increase in its demand and bring in the most value comparatively.
To put things into perspective, an average car gets sold after being listed for 36.5 days whereas yellow cars do so after 41.5 days.
It is with no doubt that the most popular or common, white-, black- or grey-coloured cars show average depreciation, which makes safe colour choice when it comes to choosing a colour for your new car. Why these colours experience average depreciation is because of its accessibility whereby buyers can easily look for cars in white, black or grey. This hence reduces the pricing power of dealers, fetching you decent resale value.
Other than the monetary resale value of the popular colours on cars, there is also a logical and spiritual side of things for some car buyers.
Cars in the shade of silver are known to be easy to maintain as minor scratches will not be easily seen and the shine of the paintwork does not erode quickly. Similarly, white, although not as popular as silver, is favoured by those who want their cars to look bold yet elegant. Black cars on the other spectrum, are not exactly easy to upkeep as any small scratches, dents or dirt can be very pronounced. As much as it exudes sleek confidence, some car buyers could also be wary of black cars for fear of a bad omen or luck.
Although car colour is a personal preference, picking a colour that complements the size and style of your car well is also important. For example, larger saloon cars are better complemented with the ‘traditional’ colours of black, grey or white, whereas smaller sportier-looking cars suit brighter colours.
Less popular or ‘rare’ colours that do not enhance the car’s value, coupled with an interior that does not match will only reduce the chances of selling the vehicle as it ages. If you are looking to buy an ‘average’ car that is practical, the bottom line would be to rely on the common colours to ensure that at the end of the road, you will be able to fetch a decent value for it.
With all that is said, although the colour of your car plays a big part in the resale value due to the visuals, the make, model and year of the vehicle, your driving record and insurance history are also vital.
Do not let the excitement of your new car spur you to make seasonal decisions such picking a current trendy colour which may die out in time.