Haven't done this in a long time but I used to use nailpolish remover to remove the unwanted graphic's from Hot Wheels. Just tried it on a new one and it doesn't work well. Is there something else out there to use on the newer ones? It seems that the paint is much better than the old stuff. B B
Prestone Starting Fluid melts the decal (tampo) right off without hurting the paint. At least it did on my test car. It will fog and etch the plastic parts, though. Probably not a terribly healthy solvent to be slathering all over your Hot Wheels, but it works. The car I tried was a new 2004 First Edition Fleetline 1947 and had glossy paint. Not sure how it would work on the satin painted ones.
I usually put a fair amount of brake fluid in a container and submerge the hot wheel I want to strip. Leave it there for a few days. Once it has taken, use a small wire brush and brush the rest of the paint off. Be sure to clean it well after you have stripped it. Windex, Lacquer Thinner, etc, then its ready for you to paint it. It always works for me. Reverend Jake