If you are thinking about upgrading your vehicle, part-exchanging your car can be a convenient and cost-effective option. This trend is on the rise, possibly fueled by the release of new car registration plates. Bristol Street Motors has noted a 100% increase in searches for ‘how to part exchange my car’ in the last three months.
To ensure the process is as beneficial as possible, the experts at Bristol Street Motors advise following certain steps to maximize your car’s valuation:
“Part exchanging your car has many benefits, allowing you to get cash for your old car and put that value towards a new one in one smooth transaction.
Opting for a part exchange at a dealership is a stress-free option, providing convenience as one of the major benefits. You can avoid the hassle of advertising and waiting for potential buyers, and promptly drive away with a new vehicle.
However, to get the best value for your car, it is essential to complete some important steps before approaching a dealership for a part exchange.”
5 essential steps you should follow to secure the best trade-in deal for your used car
1. Give your car some TLC
In the realm of car trade-ins, first impressions are crucial.
Ensuring your car is immaculately clean both inside and out before taking it for evaluation at a dealership can significantly impact its trade-in value.
Do not underestimate the power of a thorough cleaning, as it can make a substantial difference.
2. Repair any damage
Even minor scrapes, dents, or scratches can diminish the trade-in value of your car.
Professionally addressing minor and inexpensive damage on your car is likely to recoup the cost of repairs in your trade-in value.
Ensure you only repair minor damages to avoid overspending and ending up at a loss during valuation.
3. Keep service or MOT checks up to date
Maintain your car’s upkeep.
Ensure any pending service or MOT checks are completed before part-exchanging your car.
A complete service history can be appealing to buyers, as they prefer to purchase a car with a history to avoid costly surprise expenses.
4. Find items that came with the car
To maximize the trade-in value of your car, it is crucial to include all original key items that came with the vehicle.
This not only enhances the overall value but also indicates to dealerships and future buyers that the car has been well-maintained and kept complete.
Be sure to gather:
- Both sets of keys: Having a spare key can be a significant selling point.
- All interior fittings: Items like the parcel shelf, which are often missing, are expected to be part of a complete vehicle package.
- The spare wheel: An essential safety feature that confirms the car is well-prepared and maintained accordingly.
5. Get organized
Prior to part-exchanging your car, it is crucial to organize all your paperwork.
Ensure you have service history records, a valid MOT certificate, and your vehicle log book (V5C).
If your car is under finance, you will also need a valid finance settlement letter displaying the final settlement figure and the finance company’s bank details.
So, there you have it, everything you need to know before part-exchanging your beloved vehicle.