If you are interested in finding a way to simultaneously sell the car you currently have while also getting the keys to a brand new (to you at least) car, without having to go through the rigmarole of posting classified ads online and all the associated risks, it may be time to consider part exchanging your vehicle. As appealing as this may be to a lot of people, there are both pros and cons to this options, and a lot of it rides on whether you are going to get a trade-in value for your car that is a) worth it and b) enables you to afford the difference in cost for the new car you’re interested in.
To help you figure out whether part-exchanging is right for you not, we are going to discuss some of the key pros and cons.
The Pros of Part Exchanging
Let’s start things off on a positive note and discuss the pros. Primarily, the biggest draw to part exchanging in favor of selling your car outright is that it saves you a whole lot of hassle and time. The time you may not have in your busy schedule to spare meeting with buyers who are potential wheel kickers and timewasters who want to try and get your current pride and joy for as little as they can.
A lot is involved though before you even start offering viewings, as you need to make sure your car is fully repaired because if it’s not you will need to mention any repairs and work it needs in the advertisement and you need to make sure it is spotlessly clean too.
With part exchanging, you don’t need to deal with any of this. You roll up to a dealership, they will assess it and then you can try and haggle out a deal.
The Cons of Part Exchanging
In the interest of fairness, let’s look at some of the downsides to part exchange. Most crucially, although part exchanging may be easier and less hassle, you are not going to get as much money as a result.
Most dealers don’t usually go any higher than the trade-in value and you might not even get that. Although some are sharks, most dealers are just looking to make a profit. They need to make as much money from the car they part exchange from you or else it’s not worth them bothering with.
Taking the pros and cons of part exchanging into account, it really comes down to your own circumstances as to whether it is right for you. If securing the highest price for your car is what’s most important, then you are still better going down the private selling route. However, if you need a better car immediately and don’t have the time to waste on the long-winded process that is navigating through the used car marketplace, then part-exchanging is the better of the two options for you.
Whatever you do, really think about your options before you decide and make sure, if you do go down the part exchanging path, that you choose a reputable dealer.