If you have never part exchanged your car before, you might not know the ins and outs of what is involved in a part-exchange deal. Generally speaking, selling your car in a part-exchange deal cuts out the need to advertise your car and show it to prospective buyers (which many a driver finds a chore), although you will often find that you get less in a part-exchange deal than in a private sale. Using our vehicle valuation tool, you'll get a quick and accurate valuation for the value of your car. This article offers advice on what to expect when you sell a car to a car dealer through a part-exchange deal.
To sell a car to a car dealer on a part-exchange deal, you need to contact them directly to see if they will be interested in seeing the car. In most cases, they will probably ask you to bring the car in so that they can decide if they are interested in arranging a part-exchange deal. If this is the case, you will also need to take several essential items with you, including paperwork (the car's V5C registration document, MOT certificate and service history) and all sets of keys related to the car.
It is also worth making sure that your car looks as attractive as possible and that any repairs that need carrying out are done. The latter two are not mandatory, particularly for those on a motoring budget, as it is possible that the money that you need to spend on improving the presentation of the car will be more than the amount that you actually receive for it in the part-exchange deal.
Once you have arranged the part-exchange deal, it's simply a matter of swapping keys with the car dealer and signing any outstanding paperwork. The car dealer will take the keys to your old car in exchange for the keys to your new car. Once this is done, it leaves you free to be driving away in your new car.
In terms of how much you can expect to receive in a part-exchange deal, it is worth bearing in mind that it will usually be less than you paid for it in the first place. At this point, you may decide that you can get more for your car in a private sale but this will not always be the case, and you may find yourself knocking money off the asking price to finally get a sale.
When you sell a car through a part exchange, it will usually mean less work on your part in comparison to a private sale. Provided the car dealer is interested in a part-exchange deal for your car after viewing the car and seeing the accompanying paperwork, he or she will usually just swap keys with you and have you sign any outstanding paperwork. After this, you can be driving off in your new car in a matter of minutes!
Disclaimer: The information in the article is for general purpose information only and should not be constituted as legal advice. This article has been produced by a third party and Jardine Motors does not take any responsibility for the completeness, accuracy, or reliability with respect to the website or the information provided. Article last updated March 2016.