Gold and Silver may have been the most valuable colors at the 2016 Olympics, but not so when it comes to the resale value of three-year-old cars. In a study released by automotive consumer website iSeeCars.com, orange and yellow cars hold their values better than other colors, while gold, silver, and beige are among the worst performers.
The study included over 1.6 million used vehicles that were three years old and sold within the past year. On average, cars depreciated 29.8 percent. At the top of the list, however, were orange and yellow cars, which depreciated 21.6 and 22 percent, respectively. Colors hovering right around the average were red (29.1 percent), gray, and white (both 29.5 percent). Meanwhile, gold cars appear to lose their value the most at 33.5 percent, followed by beige (31.2 percent), silver, and black (30.6 and 30.2 percent, respectively).
The study points out why bright colors like orange, yellow, and green retain their value so well. For starters, these colors are dominated by sports and muscle cars (think Lambos and Challengers). They are also rare. According to the study, orange, yellow, and green cars account for approximately 1.5 percent of all vehicles. They also tend to have lower miles, with orange cars showing an average of 27,210 miles on the odometer after three years, compared to 36,324 miles for all vehicles.
And while the bright colors may hold their value well, they’re not necessarily the quickest sellers. The study found that three-year-old cars stay on the market for an average of 43.9 days. Orange and yellow cars sat on lots slightly longer than that a 44.1 and 49.5 days, respectively. Meanwhile, quick-selling colors include gray (41.4 days) and black (42.1 days).
Source: iSeeCars.com
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