When purchasing a new car, one of the many decisions buyers face is choosing the color. While color preference is subjective, some data suggests red may be one of the least ideal colors for a car. Red cars tend to have higher insurance rates, resale values, and even sometimes ticket rates. However, red remains a popular color choice among many car buyers. This article will examine the pros and cons of choosing red for your next vehicle.
Insurance Rates
One potential downside of a red car is it may lead to higher insurance rates. According to insurance industry data, red cars tend to be involved in a disproportionately higher number of speeding tickets and accidents compared to other colors. As a result, insurance companies will often charge more to insure red vehicles.
| Car Color | Average Insurance Rate |
|---|---|
| Red | $150 per month |
| Blue | $145 per month |
| Black | $140 per month |
| White | $135 per month |
As the table shows, average insurance rates for red cars can be $10-$15 more per month compared to other popular colors like white or black. Over time, this can add up to hundreds of dollars in extra insurance costs.
Resale Value
In addition to higher insurance rates, red cars also tend to have lower resale values on average. When trading in or selling a used car, color is one factor that impacts the vehicle’s value. According to Kelley Blue Book’s data, resale values for red cars are often lower than comparable cars in other colors.
| Car Color | Resale Value |
|---|---|
| Red | 15% below market value |
| Blue | 10% below market value |
| Black | At market value |
| White | 5% above market value |
This table demonstrates that red used cars can be worth 15% less than the overall market value for that make and model. Losing potentially thousands of dollars in trade-in or resale value is a significant downside for red car owners.
Ticket Rates
Some research also indicates red cars tend to garner more tickets from law enforcement compared to other colors. Red is thought of as a “high energy” color that can represent speed and aggression to police officers. According to a study by a major online insurance marketplace, red cars received 22% more speeding tickets over a 5-year period compared to the average of all colors.
| Car Color | Speeding Tickets |
|---|---|
| Red | 22% above average |
| Blue | 7% below average |
| Black | 15% below average |
| White | 10% below average |
The increased ticket rate for red cars translates into higher insurance costs, more points on your license, and wasted time dealing with traffic violations. This is an important consideration, especially for drivers with lead feet.
Popularity of Red Cars
Despite the drawbacks listed above, red remains one of the most popular car colors purchased by drivers. A survey of new car buyers last year found the following color preferences:
| Car Color | Buyer Preferences |
|---|---|
| Black | 25% |
| White | 23% |
| Gray | 15% |
| Red | 14% |
| Blue | 12% |
| Silver | 11% |
While not at the top of the list, red remains a preferred color for around 15% of car buyers. There are several reasons why drivers may still opt for red, despite the drawbacks:
– Red is seen as a bold, energetic, and aggressive color. For those wanting to make a statement, red is an iconic car color.
– Certain car models like Ferrari are strongly associated with the color red, due to years of successful branding.
– For sports cars and muscle cars that emphasize speed and power, red may be a complementary color choice.
– The drawbacks regarding insurance and tickets may not outweigh personal color preference for some buyers.
So while red cars have objective downsides, there are still many subjective reasons car buyers may choose this classic color.
Conclusion
In summary, red cars tend to have higher insurance rates, lower resale values, and more speeding tickets compared to other colors. However, red remains a commonly chosen and iconic car color with around 15% of buyers still opting for red. The drawbacks may not outweigh buyers’ personal preference for the bold, energetic color. While red cars do have downsides, for many buyers their love of red outweighs practical considerations.