Part exchange my car
Thinking about part-exchanging your car? Enter your car’s reg number and mileage into the tool below to find your motor’s market value in under 30 seconds.
What is a car ‘part exchange’?
Part-exchanging often refers to the process of trading in the value of one car as part-payment towards another new or used car. However, it is also possible to part-exchange multiple cars.
During a part-exchange deal, a dealer will evaluate your motor and subtract the value from the purchase price of the car you intend to buy. You’ll then pay the remainder of the cost in cash, by card, or using a car finance plan.
Whilst this is usually a fast and convenient process, it’s worth bearing in mind that a dealership’s trade-in value is typically less than your car’s market value.
Therefore, we recommend getting an online valuation before visiting the showroom.
Try entering your reg number and mileage into our free car valuation tool. You can use this valuation to determine whether you’re getting a fair offer, and if necessary, negotiate with the dealer.
How does part exchanging work?
Valuation: The dealer will evaluate your car based on a variety of factors, including its make, model, trim, condition, age, mileage – and the current level of market demand. Part-exchange values may be lower than valuations from other sources due to dealerships’ overheads and profit margins.
Agreement: If you’re happy with the dealer’s quote, you can agree to put this value towards the price of the car you wish to purchase.
Signing the paperwork: Next, the dealer will guide you through the paperwork to complete the transaction. The agreed value will be put towards the purchase of your new car, and you’ll then pay the remaining cost upfront in cash, by credit card, or in instalments (if you utilise a car finance plan).
Drive away: You’ll then be able to drive your new car home. In most cases, the part-exchange process takes no more than a few hours.
Benefits of part-exchange
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Fast and convenient
Part-exchanging your motor at a dealership is usually a straightforward process. In many cases, you’ll be driving away in your new car within two hours.
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A simple process
Some dealerships will accept both cars and vans, even multiple vehicles, making the selling process simpler than alternative methods by combining several transactions into one.
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No need to advertise and meet viewers
If you opt for a part-exchange deal, you’ll skip the hassle of advertising your car and meeting with viewers.
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Safe and secure
Providing you choose a reputable dealer, the part-exchange process should be safe and transparent, with a secure transfer of funds.
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Loyalty bonuses
Many manufacturer dealerships offer a loyalty bonus for trading an old car in for a new one from the same brand. Some also offer financial incentives through their scrappage schemes.
Disadvantages of part-exchange
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Lower valuation
You’ll often get less cash for your car when part-exchanging through a dealership than you would by selling it separately through other methods, such as a car buying service, or selling on the private market.
This is due to dealers incurring additional costs for stocking the car and preparing it for resale. Dealerships have extra overheads and tight profit margins, which are often reflected in the prices offered.
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Less opportunity to negotiate
There is often less scope to negotiate with a part-exchange deal than with a private sale.
Since you’re selling to and buying from the same party, the dealer will balance their trade-in value against any discount offered on your new car. Therefore, you’re unlikely to get the best of both worlds!
This doesn’t mean haggling is completely off the table, but it’s important to have realistic expectations about what can be accomplished.
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Challenges when your old car is worth more
Some dealerships may be reluctant to allow you to ‘downsize’ (i.e. trade in your current car for a cheaper model). Those that do may charge you an admin fee.
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Potential for regret
If you rush into a part-exchange and later discover that you could have benefited from a better deal elsewhere, you could regret your decision. In some cases, the gap between your market and part-exchange values can be significant.
Therefore, you should carefully consider the best way to sell your car before you commit.
Is it worth part exchanging your car?
Part-exchanging can be worthwhile if convenience is a top priority. It streamlines the process of getting a new car while trading in your old one, saving you time and effort.
However, it’s important to remember that your trade-in value is likely to be below market value, because dealerships are focused on reselling at a profit.
If you’re keen on maximising resale value, you’re better off selling your car elsewhere and then putting the proceeds towards purchasing your next one.
How much is my car worth?
Although selling your car privately involves more legwork, taking this avenue could allow you to raise more cash towards your next purchase.
Alternatively, you could get a great deal by selling your car to a leading car buying service such as webuyanycar. Selling with webuyanycar is simple, hassle free - and true to our name, we’ll buy any car, regardless of its condition.
We have 500+ locations across the UK and with our Immediate Payment option, you can get the money in your bank in 15 minutes or less!
Get my car valuation
Frequently asked questions
Yes, you need to notify the DVLA after part-exchanging your car.
It’s your legal responsibility to update the DVLA whenever you sell or transfer ownership of a vehicle. Failure to do so could result in a fine of up to £1,000 and continued liability for any motoring fines and offences incurred by the new owner.
It may be possible to haggle a better part-exchange deal but the scope for negotiation is often limited compared to a private sale.
You have the best chance of negotiating successfully if the car you want to part-exchange is sought after by the dealership.
You don’t usually have to pay a deposit when buying a car through a part-exchange deal. In this case, the trade-in value for your old motor will serve as the deposit.
However, if your old car’s trade-in value is less than the deposit required for the new one, you may be asked to pay the difference.
Yes, you can usually part-exchange a car that is financed through a hire purchase (HP) or personal contract purchase (PCP) plan. However, you must settle any outstanding finance with the lender beforehand.
It’s important to note that you can’t part-exchange or sell a car that is leased through a Personal Contract Hire (PCH) plan. This type of contract does not come with the option to own the vehicle.
If you want to maximise resale value, choosing the best time to sell or part-exchange your motor should also be a key consideration.
Seasonal and economic considerations:
- For newer cars, selling before the plate changes in March and September each year can help you retain more value.
- Convertibles may have slightly higher trade-in values in the spring and summer when demand is higher.
- SUVs, MPVs, and 4x4s command higher prices in winter, as their capabilities are valuable in inclement weather.
- High demand and stock shortages in the used car market can boost trade-in values, so it’s worth keeping an eye on market trends.
Car depreciation and lifespan considerations:
Cars gradually lose value over time through depreciation. To maximise your car’s part-exchange value, consider trading it in before it hits the next major value drop point.
For example, this may be:
- Before the 3-year mark.
- Before you hit 60,000 miles.
- Before the 5-year mark (when depreciation slows, but the perceived risk of mechanical issues increases).
The decision on whether to sell or part-exchange your car should depend on your priorities:
- Part-exchanging may be a better option if you’re keen to switch to a new car as quickly as possible. With a part-exchange deal, you can accomplish this in one transaction.
- However, if you want to get more cash for your motor, you may have more luck selling your car to a car buying service such as webuyanycar – or selling your car privately.
Yes, you’ll usually get less for your car in a part-exchange deal than if you sold it privately.
Dealers usually factor in profit margins – and they’re also focused on selling you a new car.