years back I had a red xr3i that was faded to pink and in places white!! I spent about 5 hours t-cutting then polishing and it came up like new.

Maybe give it a really good wash down, clay bar it to remove any crap in the paint (very quick and easy to do) and then give it a good t-cut and then polish up then wax.

If it is kept waxed up reguarly then the red should remain.