Advice
How To Get The Right Price For Your Part-Exchange
We know how much your car is really worth. Get an accurate valuation before part-exchanging your car, then follow our tips for an easy trade-in.
Words by: Andrew Woodhouse
Published on 6 October 2023 | 0 min read
Part-exchanging your current car for a new one is pretty common, but how confident are you you’re getting the best price from a dealership?
We break down the steps you can take to ensure you get the best price for your part-exchange, right here.
We break down the steps you can take to ensure you get the best price for your part-exchange, right here.
Get a valuation
A valuation will tell you what your car is worth.
With Auto Trader, you can get an independent valuation that is 100 per cent data-driven and considers the vehicle’s age, mileage, factory spec and optional extras, to give you the most up-to-date valuation we possibly can. We only use independent market data to find your valuation to make sure they’re reliable and unbiased – whether you’re buying, selling or part-exchanging, the price you get off us is accurate. You might be tempted to scour the classifieds to see how much similar cars are being sold for, but that isn’t really a help when you're negotiating to part-exchange. These advertised (retail) prices take into account the costs involved in making a car ready for sale, so the value you’ll be offered for a part-exchange will be lower.
With Auto Trader, you can get an independent valuation that is 100 per cent data-driven and considers the vehicle’s age, mileage, factory spec and optional extras, to give you the most up-to-date valuation we possibly can. We only use independent market data to find your valuation to make sure they’re reliable and unbiased – whether you’re buying, selling or part-exchanging, the price you get off us is accurate. You might be tempted to scour the classifieds to see how much similar cars are being sold for, but that isn’t really a help when you're negotiating to part-exchange. These advertised (retail) prices take into account the costs involved in making a car ready for sale, so the value you’ll be offered for a part-exchange will be lower.
Consider the condition
Be realistic about your car's condition. A car in excellent shape with low mileage will be worth more than one with visible wear and tear, but you need to be honest about any issues or imperfections. Trying to hide problems can lead to mistrust and can reduce the value offered.
Keep and present a record of any regular maintenance, services and repairs to show the car has been well taken care of.
Keep and present a record of any regular maintenance, services and repairs to show the car has been well taken care of.
Clean your car
Clean your car thoroughly, both inside and out, before presenting it to the dealership. Consider whether it’s worth fixing minor repairs.
Here's how to prepare your car before selling it.
Here's how to prepare your car before selling it.
Get multiple quotes
Approach multiple dealerships and get quotes for your part-exchange, and research the reputation of the dealership. Some may offer better deals or have a reputation for fair part-exchange values.
If you need to negotiate the price with the dealer, be firm. Before you start, pick a maximum price you’re prepared to pay for the car you’re buying – and a minimum price for your part-ex – and don’t deviate from them. If you and the dealer are happy with final part-exchange price, you can go ahead and sell your old car to dealer and drive away with your new one. However, if you’re not getting the deal you want, simply get up and walk away. Don't feel pressured to accept the first offer you receive. Take your time to consider your options and negotiate if necessary.
If you need to negotiate the price with the dealer, be firm. Before you start, pick a maximum price you’re prepared to pay for the car you’re buying – and a minimum price for your part-ex – and don’t deviate from them. If you and the dealer are happy with final part-exchange price, you can go ahead and sell your old car to dealer and drive away with your new one. However, if you’re not getting the deal you want, simply get up and walk away. Don't feel pressured to accept the first offer you receive. Take your time to consider your options and negotiate if necessary.
Read and understand your offer
This is a really important step: before finalizing the deal, carefully review the terms and conditions, especially those related to the part-exchange.
Remember, the final price offered for your part-exchange will depend on various factors, including the demand for your specific model, the condition of your car, and the dealership's own policies. Be aware of any shifts in the market that might affect the value of your vehicle, such as high demand for certain models or changes in fuel prices. By doing your research and being prepared, you'll be in a better position to negotiate a fair price. Part-exchange might not be right for you. A private sale could fetch a higher price if you have time to wait, but if you’re in a rush to sell your car, you can also get an instant offer and sell your car instantly with Auto Trader. All you need to do is add in your car’s details and get an instant offer, and we’ll arrange the pick-up for you.
Remember, the final price offered for your part-exchange will depend on various factors, including the demand for your specific model, the condition of your car, and the dealership's own policies. Be aware of any shifts in the market that might affect the value of your vehicle, such as high demand for certain models or changes in fuel prices. By doing your research and being prepared, you'll be in a better position to negotiate a fair price. Part-exchange might not be right for you. A private sale could fetch a higher price if you have time to wait, but if you’re in a rush to sell your car, you can also get an instant offer and sell your car instantly with Auto Trader. All you need to do is add in your car’s details and get an instant offer, and we’ll arrange the pick-up for you.