Most of us are pretty picky when it comes to colour. Everyone has a favorite colour or a favorite range of colours. The colour of a vehicle can make a huge difference in personal appeal of a vehicle. But can the paint colour of your vehicle affect the value of your car?
In Australia, most people have a tendency to avoid bright car colours. 70% of Australian vehicle owners prefer neutral coloured vehicles. White, silver, grey and black are the most popular car colours. 21% of vehicles in Australia are white which makes this the most popular choice. Grey vehicles fall in second place with 18%, 17% of vehicle owners choose grey, 16% prefer black vehicles, 13% choose blue and 10% choose red. The rest of the colours like yellow, green, brown or random colours are below 3%.
Why do most Australians prefer neutral vehicle colours?
Most people choose neutral coloured vehicles because repairs are a lot easier and often more affordable since these popular colours are easily mimicked at auto repair shops and damages or repaints can be done on car parts without any visible signs. Another big reason is that these colours, with the exception of black, don’t show dirt and dust quite as easily. These colours also have more aesthetic appeal. But neutral colours are not picked for safety reasons. In fact, silver, grey and black is some of the most dangerous colours to choose since these colours blend with tar roads too closely and are tough to spot during dusk. White may seem like a safe choice but the popularity of this colour also makes it a lot tougher to spot since there are such a huge number of white vehicles on the road.
Value depreciation and colour
All vehicles depreciate in value over time but some vehicles do in, fact deprecate a lot quicker than others. In an average 3 year depreciation period, gold coloured vehicles lose 33.5% of their value. Silver loses 30.6% of its value, blue loses 29.9%, white loses 29.5%, grey loses 29.5% and surprisingly those unpopular colours like green, yellow and orange lose less than 25%. Basically, this means that brightly coloured vehicles have a higher resale value than neutral and popular colours despite the fact that neutral colours are a lot more popular in general.
Colour change and car value
In cases where vehicle colours are changed, it is however quite a different story. You may think that switching over to a popular colour or repainting your car for a fresh new bright look might enhance value but in many cases, the opposite happens. Colour changes often aren’t a good idea because plenty of body parts no longer match with the new and fresh look. It is usually best to stick with the original vehicle colour even though you even for restoring a retro vehicle since the original vehicle colour enhance the authenticity of the vehicle. But repainting your vehicle in itself isn’t a bad idea. A fresh coat of paint of the same colour can enhance your vehicle value by up to 30% depending on the repaint quality. The keyword here is ‘quality’. Poor quality paint jobs can lower your car’s value which will mean that all of that money you spent on repainting becomes a loss.
It is clear to see that the colour of your vehicle can affect the value of your car. Picking a good colour is complicated business so instead of trying to repaint your car so you can sell it, try using a good company like Cash for Used Cars Melbourne that will give you great value for your used car no matter what colour it is.