So - you’ve chosen a shiny new car to buy… What are you going to do about the old set of wheels sat in your driveway? For many people, the answer to this is “I’ll part exchange my car” - but is this a good way to sell your old vehicle?
At face value, it has the benefit of killing two birds with one stone: you offload your current vehicle in part payment to the dealer, meaning the actual cash payment for your new car is much lower.
But you should be aware: if the dealer you part exchange your car with intends to sell it on to a new customer, then you are likely to be able to negotiate a good price for your old car. However, if the dealer you part-exchange with does not intend to retail your car then you will probably not get a good price, as they will need to either put that car into auction or find another dealer to sell it to - and will want to make sure they are not out of pocket doing so.