Why Color Choice is Important for Resale Value
Most people buy a new car once every 5 to 7 years, which means they have to sell or trade-in their old car with each transaction.
If you're like most car buyers, it's a good idea to consider resale value when choosing your vehicle.
Obviously, choosing cars that have high resale value is a good start, but there are other steps you can take to add a few hundred dollars to your bank account.
One of the biggest factors is the color of your vehicle. You want to stick with colors that are popular AND neutral. Silver is always a safe bet, followed by black, white, gray, blue, and beige. You may be tempted to purchase your car in a flashy color such as yellow or red, but you're going to have a harder time selling it down the road.
When doing a trade-in, dealers want cars they know will sell easily. If you have a very unique or flashy color, dealers will not offer you full value for the vehicle.
Interior color is another factor to consider. Two-tone interiors usually sell better (two similar colors are better than two contrasting colors). If you have kids or pets, consider buying a darker interior to hide scratches and stains better.
Another benefit to choosing neutral exterior colors is fewer traffic tickets. Studies show that red and yellow cars get pulled over more often, which makes sense since they're easier to spot. Paying attention to small details like this will save you hundreds, if not thousands of dollars over your lifetime.
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid