Part Exchanging Your Car With Parkland Motors
You’re ready to buy your next car and suddenly realise the burden of needing to sell your existing car. The good news is that with Parkland Motors, you’re able to part-exchange your current car to reduce the cost of your new car with us.
This means that we will buy your car and then you can use all (or part) of that sum of cash to help towards buying your next new car. Not only does this make it easier to sell your car, but also makes it much more straightforward to buy your next one.
As vehicle valuation experts, we are ready to give you the latest market value of your car. This guide explains everything you need to know about part-exchanging your car with Parkland Motors.
What Does Part-Exchange Mean?
Part-exchanging your car is a way of transferring the value of your old vehicle towards the cost of your new one. If you decide to finance your car, the funds from part-exchanging your current car can be contributed towards your finance deposit.
As a car dealership in Nottinghamshire and Leicestershire, we can offer you a part-exchange valuation based on the market value of your car and can settle this on the outstanding finance of your new car.
What Are the Benefits of Part-Exchanging My Car?
Part-exchanging your car comes with a multitude of benefits. To begin with, it takes away the hassle of selling your vehicle when buying a new one.
It also allows you to reduce the cost of your new car by reducing your overall payments, which can be extremely useful if you’re looking to finance your new vehicle. You also have the choice of using the funds from your part-exchange towards your new car or to keep the cash whilst you take out finance.
Part-exchange can also be useful if you do not have enough funds to purchase your new car before selling your old car, making it an easy option to have a straight swap and paying the difference. This makes the buying process a much easier and straight-forward solution.
Can I Part-Exchange a Financed Car?
You can part-exchange a financed car, however, we will only accept financed cars providing that there is no outstanding finance left on the vehicle. We will also only accept financed vehicles that have been financed through Personal Contract Purchase (PCP) or Car Hire Purchase.
You will only be able to part-exchange a Personal Contract Purchase (PCP) vehicle if you have decided not to return it to the original dealership you purchased it from.
Can I Part-Exchange a Leased Car?
Unfortunately, if you have a leased car, you won’t be able to part-exchange it. This is because a leased car is the property of your leasing company and is not owned by you. When your leasing agreement has terminated, you will need to return the vehicle to your leasing company.
How Much Is My Car Worth?
How much your car is worth when part-exchanged will come down to a variety of factors. We give you the latest market value of your car, which is dependent on:
Make and Model
The make and model of your car will make a massive difference in how much it is worth. Some makes and models are more desirable than others, with some makes holding their value more than others.
Age of Car
Newer cars are typically worth more than older cars. So the value of your car is likely to decrease with time.
The higher the mileage of your car, the less the value of it will be. This is due to the components of the car more likely to be worn down, with a higher chance of them needing to be replaced sooner.
The condition of your car will have a significant impact on the value. Whilst wear and tear is expected with age, more serious damage to the vehicle can cause a decrease in value, for example, if your vehicle has been involved in any previous crashes. Scuffed alloy wheels, bumps and scratches will lower the value as we will need to repair the car to an excellent condition before selling.
Having a full (or even part) service history is important if you want to attract the best part-exchange price. Before you part-exchange your car, you’ll want to have the car’s original service handbook with stamped dates from an authorised dealer or garage. Your car will also hold a higher value if the vehicle was serviced at the correct intervals, for example, this is often every year or 10,000 miles (whatever is first).
What Documents Will I Need to Part Exchange My Car?
When part-exchanging your car, you’ll need to have all of the essential paperwork, including your vehicle registration certificate (also known as the V5C), your service handbook, paperwork for repairs and the MOT history.
Get A Free Vehicle Valuation
If you’ve found the perfect car on our website, you may want to consider part-exchanging your current car. Fill out the simple form below and one of our experts will contact you with the best possible price for your car, or alternatively, you can call our experts on 01509 232232.
We offer to provide you with a free valuation if you are looking to sell your current vehicle. A proactive team member from Parklands Motors will contact you with the best possible price for your vehicle with no fees and immediate payment.