Any tips on how to correct this paint fade? Do I need to just get it repainted or is there some way to bring the lustre back? We bought this car and it was sitting under the previous owner's tree for a while.
Color correcting is high level auto detailing stuff... There's plenty of youtube videos on it. Fortunately for you, this isn't a color correcting job, it's just your clear coat on top of the paint becoming oxidized and failing. But similarly, there's Youtube videos on how to sand off and replace your clear coat with an epoxy based spray paint with the button on the bottom that mixes them just before spraying it on. However it's difficult to do this DIY style and requires lots of sanding to apply on a smooth surface in a dust and bug free area so the paint has time to dry before outside stuff can stick to it.
If you allow some imperfections (e.g. impurity) you will get good DIY result and great gloss after wet sand and polish. Just remember to use 2k clearcoat. Solvent based clear coat is hopeless. i would take it to shop though. Should not cost so very much