Should I part-exchange my car?
Last updated November 11th, 2023
Have you ever wondered how part-exchanging works?
In the simplest terms, you trade in your current car at a dealership to receive a discount on another vehicle in the showroom.
Part-exchanging is a popular choice among today’s car buyers, as it requires significantly less legwork than other avenues such as selling your car privately. In many cases, you can take your old motor to a showroom then drive away from the forecourt in a brand-new model!
In this guide, we’ll explain when you should think about part-exchanging your car – and when to consider the alternatives.
Value your car in under 30 seconds
Is it better to part-exchange your car or sell it?
-
Part-exchanging can be a great option if you’re keen to trade in your old car and switch to a newer model quickly.
-
The part-exchange process is usually quicker and easier than selling your car privately. (You won’t need to list your vehicle on car advertising websites, meet with prospective buyers or facilitate test drives.)
-
Unfortunately, not all cars are suitable for part-exchange and many vehicles are rejected due to their condition.
-
Your car’s trade-in value at a dealership might be less than what you could get for it on the private market, as not all dealers will want your car.
-
We would recommend getting a free car valuation before visiting a dealership. This will help you to assess whether you’re getting a good deal. (Remember, if you’re unhappy with the dealer’s offer, you can walk away from the sale.)
-
Before committing to a particular selling method, you should consider the benefits and drawbacks of each option carefully.
Do you get less for your car if you part-exchange?
You might get a lower price when you part-exchange your car than you would by selling on the private market.
If your aim is to get the best possible price for your car, you should consider other selling options. Selling privately does typically require more effort (and there’s no guarantee you’ll find the right buyer at the end of it all). However, if you persevere, you could potentially make more profit.
Is part-exchanging cars worth it?
Whether part-exchanging your car is worth your while depends on your priorities. If you want to get rid of your old motor quickly (and can’t wait to get behind the wheel of a newer car), part-exchanging could be a great option.
However, bear in mind that your car’s trade-in value at a dealership could be less than what you’d get through other selling methods. Even if you’re a good negotiator, it’s unlikely that you’ll get the best possible price for your motor at a dealership.
As we’ve mentioned, private selling can be a time-consuming process, but if you manage to find the right buyer, you could make a tidy profit.
Alternatively, you can sell your car to webuyanycar. Get your free valuation and make an appointment at any of our 500+ UK branches today. Our selling process is simple and hassle-free.
We could offer you a great price for your motor – and we’re often able to beat part-exchange valuations. So, if you’re disappointed by a dealer’s trade-in value, selling with webuyanycar could give you more cash to put towards your next dream car!
