What is Involved When you Part Exchange Your Car?
Purchasing a new car is an exciting time, especially if you’re looking to buy the car of your dreams, but for many people, in order to afford a new vehicle, they need to sell their current wheels. This process can be inconvenient if you rely on your car to get to work or do the school run, so opting for a part-exchange is a favoured option for many. If you’re thinking of updating your motor, here’s all you need to know about how to part-exchange and why it’s a beneficial choice.
What is a part-exchange?
Most car dealerships will offer a part-exchange service. A part-exchange simply involves doing a direct swap from your old car to a new car, once a value price has been agreed between the seller and the car dealer this amount is used against the new vehicle. If you own the car then you pay the difference in cash but if you’re entering a finance agreement, then the value will reduce the amount you need to borrow through finance.
What’s the criteria for part-exchanging your car?
Although the majority of cars will be eligible for a part-exchange there are a few things that dealers will look out for. Such as, popular makes and models, as well as the car’s mileage and added extras will all be considered along with the overall condition of the vehicle. The dealer is also likely to complete a road test and ask to see your MOT and servicing history to spot any problems that may affect the value.
What do you need to bring?
- V5 registration document
- Service history
- Spare key
- Details of any work that’s been carried out
- Wheel nuts
- MOT certificate- but this can be checked online
What are the benefits of part-exchanging your car?
It’s common knowledge that if you part-exchange your car you’ll probably get less for your vehicle than you would selling it privately. However, if you want a quick sale and need access to a new car immediately then a part-exchange is your best option. Additionally:
- You won’t have to deal with time wasters who show interest in your car but don't follow through.
- The process will be complete within a day meaning you can drive your old car in and leave in a brand new vehicle.
- You don’t need to spend money on advertising.
If you’re based in the Ayr, Prestwick and Ayrshire areas of Scotland, then Caledonia Vehicle Solutions have a range of quality cars available for part-exchange. With over 30 years of experience in the motor trade, we have a wealth of knowledge and competitive rates available. Don’t hesitate to get in touch or visit our showroom today.