Repainting the hood will not devalue your car.Black is the cheapest of all colors To repair your hood you have to feather edge the chips out,fill with three coats of primer,scuff hood with ultra fine sand paper,blend in black paint over primer then clearcoat entire hood.Supplies would cost about $125.00 with enough material to do another panel.Labor to paint hood arond 4.5 hours.Body shops in MA. get about $38.00 an hour.Painting a Mercedes or a Kia ,it is all the same.