Part exchange explained: how to get a good deal

How part exchange works, what to expect for your old car, and how to negotiate.

A part exchange means a dealer takes your current car as part payment towards the one you're buying. It saves the hassle of selling privately, but it pays to know how it works.

What you'll be offered

Dealers offer close to trade value, which is usually less than you'd get selling privately. They need to check, prepare, advertise and warranty the car before reselling it.

How to get a good deal

• Know your car's value before you start. See how to value your car.
• Negotiate the two prices separately. Agree the price of the car you're buying first, then talk about your part exchange, so a generous-looking offer isn't hidden in a higher price.
• Be honest about faults. The dealer will find them anyway, and it avoids the offer being reduced on the day.
• Bring everything: the V5C logbook, all keys, the service book and receipts.

If you still owe finance

You can usually part exchange a car with finance outstanding. Ask your finance company for a settlement figure. The dealer pays it off and the rest of your car's value goes towards your next one.

Many sellers on Motorlane say on their listing that they welcome part exchange, and you can send the details of your car with your enquiry.