Part exchanging your car on a brand new model could help you save money. You’ll agree a value with a dealer and, in return for the keys to your old car, they’ll knock the same sum off the price of a new model.
For more information on buying a new car, read our comprehensive car buying guides or check out the latest carwow offers on our new car deals page. Not sure what to buy? Let our car chooser tool narrow down your search.
What is part exchange?
Part exchanging is exactly what it sounds like – you can simply exchange your old car with a dealer in return for part of the price of a new model. The amount your car is worth will depend on its condition, age, popularity and how easily the dealer thinks they’ll be able to sell it on.
Rusty old estates that could sit around on a dealer’s forecourt for months might only be worth a few hundred pounds while popular SUVs could help cut thousands off the price of a new car.
If you own your car outright there’ll be nothing to stop you part exchanging it for a newer model. However, if you’re still paying for your car through personal finance, such as a Personal Contract Purchase agreement, things can get a little more complicated. You’ll have to make sure you’ve paid off the total value of the car outlined in your original contract before you can freely exchange it for a new model.
Should I part exchange my old car?
Part exchange is often the easiest way to get rid of your old car if you’re in a hurry to upgrade to a new model. Selling your car privately could take weeks while agreeing to part exchange it with a dealer can be done and dusted in an afternoon.
Unfortunately, there’s a price to pay for all this convenience – the amount you’ll get for part exchanging your car will often be less than the amount you could sell it for privately. There are, however, a few things you can do to maximise its value.
How do I get the best price for my car?
Get a good idea of how much your car is worth before you head off to a dealership. Our guide to valuing your car will help and a quick look at the dealer’s website or forecourt for similar models to yours can help judge how much they’re likely to offer, too.
First impressions are key. To get the best valuation for your old car, it really needs to look its best. Give it a good wash, hoover the cabin and make sure the kids haven’t left any empty crisp packets under the seats.
Can I part exchange my old car through carwow?
Many carwow dealers will offer to take your old car in part exchange and all will aim to give you a fair price. The discount you’ll receive through us is irrespective of the value of your old car. This means dealers won’t offer a lesser discount in return for a higher part exchange valuation.
Save money on your next car
See how much you could save on a new car by visiting our new car deals page or use our PCP calculator to get a better idea of how much a new car could cost per month. Not sure what to buy? Let our car chooser tool help narrow down your search.