The fading could just be in the clearcoat on the car (if any). You could try wet sanding wit some 1200-1500 grit wetsand paper and Polish it with a buffer at LOW speed. the compound wheel might run ya around 220$ (makita), probally 50$ in sand paper,50$ on a decent compound and a glazing compound of some sort to remove the swirl marks from the previous compound.
GOOD LUCK!