A refinish clearcoat composition includes an hydroxyl-functional acrylic polymer. The acrylic polymer has a number average molecular weight of at least about 5000 and is polymerized using at least about 45% by weight cycloaliphatic monomer, based on total monomer weight polymerized. The clearcoat composition is fast drying. Optionally, the clearcoat is cured by low temperature baking. The cured clearcoat surface may be taped without leaving tape marks as soon as the substrate is cooled. The cured clearcoat may undergo wet sanding after baking as soon as the part is cooled, and can then be buffed back to a high gloss finish after sanding and washing.