The traditional wisdom surrounding brightly colored vehicles has always stated that it is always better to avoid these as they have a lower re-sale value. With a limited re-sale market, there is less of a chance that someone will be interested in purchasing that bright orange or bright green car. However, a new study as well as research done at Honda indicates that there may be some advantages associated with brightly colored cars.
Silver, gray, white and black are the most common vehicle colors found across California’s roadways. Because these are neutral colors that are very popular with used car buyers and dealerships, there is a better chance of them returning more value at re-sale than a bright color. However, a new study from Iseecars.com indicated that orange and yellow vehicles depreciated the least when compared with all the other types of cars in their first three years of ownership.
Black, gray and white vehicles depreciated at the rate that was much closer to the national average. Analysis from Honda identified that brightly colored cars are less likely to be involved in an accident statistically, whereas gray and black vehicles have a much higher accident risk.
Part of the reasoning behind the gray and black vehicles having a higher accident risk than brightly colored vehicles has to do with the fact that black and gray are more difficult to see. With limited visibility or poor weather, it can be more challenging to see these vehicles and they may be more likely to be involved in an accident. Furthermore, there are psychological findings indicating that a brightly colored vehicle could actually help to lift your mood. Therefore, Honda argues that a bold color choice can enhance the moods and personality of a car owner.
SENIOR PERSONAL INJURY ATTORNEY & FIRM FOUNDER
Michael Pines is a former insurance company attorney who graduated from the University of California Hastings College of the Law in 1987. While he was an insurance attorney, he learned from behind the scenes how insurance companies work and how they decide how much to pay injured people. Now that he works against insurance companies, Michael’s inside knowledge has resulted in significant benefits to his clients injured in car accidents. Learn more about Michael Pines