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What to Expect When Part Exchanging your Car

By: Sally Aquire - Updated: 27 Jul 2012 | comments*Discuss
 
What To Expect When Part Exchanging Your Car

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. For more information on choosing between the two, see our article on “Should I Sell My Old Car or Part Exchange It?”. This article offers advice on what to expect when you sell a car to a car dealer through a part exchange deal.

Arranging 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 (see our article on “Preparing your Car for the Sale” for more advice on this), 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.

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 a lot less than you paid for it in the first place. Don't be too disappointed or surprised if the price that the car dealer gives you is not as high as you anticipated. 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!

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