And the best value car colour is...
2012-07-02 09:59
'DOOM BLUES' LOSE VALUE: The graph above shows that buying a white car could save you quite a bit in terms of resale value while "doom blues" will have you haggling more to get the best deal.
It's daunting enough to a choose a car colour you'll be stuck with for years to come without having to think about any external factors such keeping it clean or "cool factor". A new survey suggests that your ride's colour may impact its resale value.
UK vehicle pricing data experts CAP found that depending on your vehicle's colour you could be losing out in terms of depreciation.
In a study comparing secondhand values to new prices, CAP found that white cars typically hold around 5% more of their value than the market average for a typical used car.
SPORTY RIDES POPULAR IN PINK
This marks a change in the perceived value of "rental car white" being more popular amongst car buyers and dealers. The resurgence of white means that a typical white model can be worth much more after three years than an otherwise identical blue one.
CAP analysed the trade market performance of thousands of vehicles over a five year period and found that, for mainstream vehicles, white was consistently the top performer.
The analysis revealed that green remains relatively unpopular in the used car market and that the colour most likely to cost owners heavily in depreciation was purple.
Blue cars languish below market average values, as well as maroon-coloured rides.
In some cases sport models proved especially popular in quirkier colours and this results in a strong performance of pink and yellow cars. In the mainstream market for family cars, consumer tastes tend to be more conservative.
CAP chief editor Chris Crow said: “Reviewing CAP’s disposal data over the last five years black, silver and grey all performed consistently in line with the overall market.
“The lesson for motorists is, when you’re choosing the colour of your new car consider how it will look to prospective buyers when you come to sell it as a used car.
"Of course, it works the other way too – for the used car buyer there are real bargains to be had if you pick a less popular colour because most of the depreciation has already occurred and you could save serious cash,” said Crow.
