The price of a good is dependent on the relationship between the quantity of a product being produced and the quantity of people interested in purchasing that product, and vice versa. It seems like a good concept to keep in mind at a supermarket or outlet mall, but hardly relevant to buying the family car. Right?
A new study published by iSeeCars.com provides colorful insight into how supply and demand can dramatically alter the resale value of those new cars you’re drooling over. After surveying 1.6 million car sales from 2013, iSeeCars found that yellow and orange cars hold their value about 9% better than the average vehicle.
How could this be? Well, the short answer is that there aren’t that many orange and yellow cars made, but there are a good number of people in the market for an orange and yellow car. That’s a simple recipe for a noticeably-higher resale value.
Also interesting is the fact that orange and yellow cars have fewer miles on their odometer on average; it seems some consumers, like those who ensure that Mustangs, Camaros, and Challengers are always offered in bright orange, save their flashy car for special occasions.
So if you’re ever looking at a gorgeous, orange, $30,000 new vehicle, remember – you’ll get, on average, $2,400 more for that car after three years than if you went with a silver model. Sometimes turning heads and spending smartly aren’t mutually exclusive.