2006-11-09 23:34:11 · 14 answers · asked by Sudhakar S 1 in Cars & Transportation ➔ Buying & Selling
Exchanging your current car to the dealer for a reduction in the price of the replacement car - the amount of reduction you get depends on the value of your car.
If you don't mind the effort of selling it yourself you will most likely get a better price than exchanging it - as long as it is not too old. If you part exchange, it is an instant discount - you do not need to wait for the dealer to sell it on. However, some places do a minimum £1000 part exchange or similar, which is great if you have a really old banger that'd probably sell for £200!
2006-11-09 23:36:33 · answer #1 · answered by cuddles_gb 6 · 2⤊ 0⤋
Part Exchange is a transaction where you use your old car to exchange as part-payment for your new car.
Lets say you are buying a new car worth £10,000.
Your old car has a trade-in value of, say, £4,000.
You pay the dealer £6,000 plus your old car.
Dealers will also use the term to describe your old car that he is taking as part-exchange.
Sometimes a dealer will offer for sale a car that he has taken as part-exchange cheaply, without servicing or cleaning it, or providing any warranty, and will still refer to the car as a "part-exchange".
2006-11-10 22:26:01 · answer #2 · answered by Neil 7 · 0⤊ 0⤋
if you have a car to sell that is part exchange for instance you see a car for say 10000 and your car is worth 3000 they take you car in p\ex and you pay 7000 but usually the dealers will not give you the price the car is worth for instance lets say retail your car is worth 5000 the dealer will give you bottom book price say 3000 and then sell it for 5000 so if you can try and sell yours private and then buy from the dealer also cash for a car is better bargaining for you so you may find that you offer 8000 and no car will be accepted.
2006-11-10 02:04:54 · answer #3 · answered by tonyinspain 5 · 0⤊ 0⤋
Part exchange is a means of trading your car in against a new one for less than its worth. I f you can seell your car privately in the paper or something you are more likely to get more for it. Garages will only give you a decentish price for your car if you are buying a really expensive car, although they are already making their money on the new car.
2006-11-10 01:43:09 · answer #4 · answered by murch 2 · 0⤊ 0⤋
part exchange is your current car that you swap with the motor dealer when buying a car...the price of the part exchange is taken off of your new car you are buying.
2006-11-10 00:39:43 · answer #5 · answered by mcterrapin 1 · 0⤊ 0⤋
You have by now know what part ex is but if was you i would sell the car privately,you will get a far better deal,because if part ex you will never get the price you should they always knock what you
think your car is worth down,that's what they get payed to do.
2006-11-09 23:49:25 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Its the price they offer you in exchange for the newer car. Normally this will be well below the retail value of the car. i.e. if your offered 5000, they will sell it for 6000 or 6500, depending on what your spending and any offers/deals on the newer car.
2006-11-10 01:31:30 · answer #7 · answered by Anonymous · 0⤊ 0⤋
they give you, part of what your car is worth, then you pay the balance, on what your buying, and pay over the odds,
better to sell privately, get a better price for your old motor, go in with cash, n ask for a discount.
2006-11-10 23:06:35 · answer #8 · answered by chris s 3 · 0⤊ 0⤋
when you buy a new /used car they buy your old one normally at a fair trade price,this saves you the bother of selling it as this can be a hassle.of course dealers make a profit on it thats why they are in business!!,allow for servicing cleaning cost of warranty,and the cost of the purchase,it is not all profit!!
2006-11-10 20:41:13 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Trading in your old car as part payment for the new one.
2006-11-09 23:38:35 · answer #10 · answered by heleneaustin 4 · 0⤊ 0⤋