Part-exchange is the most popular way of getting you out on the road, in that newer model, in the most hassle-free way possible. In this article, we will explain what part-exchanging a car entails, providing you with all the information you will need to help you decide what to do next.
What is part-exchange?
Part-exchange is taking the value of your current car and using this to go towards the cost of your next car. For example, if your current car is valued at £5,000 and your new car is priced at £8,000, then you will only pay the difference towards your new car. This is known as the ‘price to change’ and would be £3,000 in this case.
Can all cars be part-exchanged?
Yes, we will part-exchange the majority of cars. The part-exchange valuation will include a road test which will review how old the car is and what condition it is in, so if there are faults with the car or it has had a poor service history or your MOT is about to run out, this will affect the value.
Can I part-exchange if I have outstanding finance on my car?
In most cases, yes you can. We can settle the finance from your old car on your behalf.
What do I need to bring with me when part-exchanging my car?
- V5 registration document
- Service/history logbook
- Spare key
- Locking wheel nut keys
- Any invoices for work carried out on your vehicle
- MOT certificate – don’t worry if you can’t find it, we can always check online
Should I part-exchange my car?
There are 4 main advantages with part-exchange:
- You can drive your old car to one of our dealerships, hand over the keys and drive away with your brand new car. By selling privately, you could be left for a period of time with no car, or two cars at once.
- You can part-exchange with us even with outstanding finance left on your old car. By selling privately, all outstanding finance must be paid before the car is sold.
- There is no need to spend money on advertising as you would do when selling your car privately.
- Overall, a far more hassle-free car exchange and car buying experience.
Disadvantages of part-exchanging your car
There is one main drawback to part-exchange: You might not get as much for your car as you would if you sold it privately – you need to weigh that up against the benefits outlined above.
Can I part-exchange with JCT600?
Yes – our handy online car valuation tool will give you a guide price. Just choose the brand you are interested in and look for the option ‘Thinking of Selling your Car’. The valuation prices are powered by Auto Trader who have over 400,000 vehicles for sale at any one time and also have access to sale prices from nationwide vehicle auctions. They use all of this information to give guide valuations based on the latest market intelligence. Of course, the exchange price we offer will be subject to a final inspection of your car, so if you are planning on visiting us and are considering part-exchange please bring with you, your vehicles up to date documentation and service history.