Should I Part Exchange My Car?

Regardless of the type of car you want to part with or how much it cost when you first bought it, when you decide on the right time to change your motor, all you can really hope for is the best deal. Your friends might try to encourage you to part with your motor for cash, while your family may even try to influence you to part exchange it for another, but the best choice you can make is the one that is influenced only by you.

What's Part Exchange?

Granted, you may have heard of part exchange when visiting a dealership in the past, or, if you have already discussed your options when looking to buy another motor. But, knowing of it and knowing about it are two completely different things, which is why you need to know all there is to it before you make any hasty decisions on the matter.

Firstly, you should only really opt for part exchange if you're looking for another car but can't really afford a lot – or the full price of the one you like. By choosing to part exchange and if the car is available at the showroom, the dealer will run you through the part ex process step by step, whereby you both openly discuss the new grand total of your next motor.

Things to Consider

However, before you jump to a decision after reading just one part about part ex and what it means, there are a few things you should consider, helping you decide if this is the best way for you to get the most for your money or if there's any other option out there for you. You're going to want to consider the following before talking about part exchange with the dealer:

• Do you want another car? - If not, then it might be worth just asking the dealer to buy the car off you for its total value rather than trading it in for another model. In some cases, drivers buy another car and then look at getting a good price for their old one, so they take it to a dealer who suggests a part exchange. Under such circumstances, a sale would be the easiest and most beneficial option for you.
• What can you afford? - Your budget plays a huge part in deciding whether to part exchange with or sell your old car to the dealer. If you have a limited budget, a part exchange would mean less to pay to cover the cost of your next motor, while if you have a wide budget with more than enough to cover the cost of another car, part exchange should be the last resort.