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Advice Guides - Part Exchange

 

How do I part exchange my car?

Trading in Your Car - Part Exchange

Like a huge amount of people in the UK you are probably considering part exchanging or “trading in” your vehicle at a local car dealer for a newer model. What usually happens is the car dealer you are dealing with will give you a value for your car against the one you are looking at buying. This figure is then deducted from the price of the car you are buying and the remaining amount is what you pay, or what they pay you if your car is worth more.

The Benefits of Trading In

The obvious benefit of trading in your car is that is a far more convenient, quick and easy than having to sell your car privately. The whole process of you buying your new car and selling your old one is carried out in one transaction, at the perfect time.

This said, if time is on your side and you aren’t in a huge rush, you could gain or save yourself some money by selling your car privately or by comparing offers from car buying companies and motor dealers.

Not only could you possibly find someone prepared to pay you more money for your car, you would also be in a better position to negotiate on the price of the car you are looking at buying as you won’t have a car the dealer needs to take in and move on. – Especially if that dealer doesn't’t usually sell your particular make of trade in.

Negotiation – Haggling on the price of your trade in

It’s important to remember though when “trading in” your old car that you negotiate or “haggle” to get the best price for your p/x which will obviously reduce the amount you have to pay or increase the amount you get back. Dealers have a profit margin and there is always room for negotiation so make sure you go prepared as prior research could save you quite a bit of money.

To start your research you should obtain some valuation figures. This can be done by using car valuation sites such as CAP or Glass’s or by visiting car buying websites online and finding out how much they are prepared to offer you for your car. Quicksellcar will quickly help you do this without having to spend lots of time.

Once you have obtained some valuation data and actual offers from other dealers to buy your car you have some good ammunition to haggle should the dealer you are looking to trade-in with make you a low offer. It is however important that you remember that the dealer you are buying from needs to make a profit so please don’t expect to be receiving a trade-in figure similar to the prices your car might be being advertised for on the likes of autotrader. These figures will be similar to what the dealer will need to sell your car on for so they will obviously need a margin for preparation, selling costs, negotiation and of course profit.

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