Part Exchanging Your Car | What You Need To Know

17 June 2021 Blog

Part exchanging your car is a hassle free way of selling your old vehicle, as well as giving you money to put towards your new one.

We share everything you need to know about part exchanging, so you can get the best price for your vehicle.

What Is Part Exchange?

A part exchange is the process of trading in your car for another. The value of your old car is used as part payment against your new one.

Part Exchanging Your Car & Outstanding Finance

Can I part exchange a vehicle that has outstanding finance?

Yes. The finance on your vehicle will be settled using the value from the part exchange. Any remaining value can then be put towards your new one.

Bring your car or van to your nearest Motorpoint and we will calculate the remainder of your current finance and provide options to help you settle this and get a new car or van.

How does part exchange work with PCP?

Part exchanging when you have PCP on your current car is easy. We will help you settle the outstanding amount, and any value left from your part exchange can be used towards the purchase of your next nearly new vehicle.

Can I part exchange a vehicle on HP?

We’re happy to help with your Hire Purchase part exchange. Our team can help you settle any outstanding finance on your current vehicle. Any remaining value from your part exchange once this has been settled can go towards your next purchase.

Documentation Required To Part Exchange Your Vehicle

Does my car need an MOT certificate to qualify for part exchange?

The longer the amount of time remaining on your MOT certificate the better. Some companies will expect at least 3 months remaining on your MOT. At Motorpoint, we will accept part exchanges with any length of MOT remaining.

The amount of time left on your certificate may impact the condition your vehicle is classified as being in when you are given a value.

Can I part exchange without a V5 (V5C) for my car?

Unfortunately, you cannot part exchange your vehicle without your V5, as this proves that you are the legal owner of the vehicle.

If you can’t find your vehicle’s V5 document, it’s really easy to replace. Just contact DVLA or visit their website.

What documents do I need to bring with me when I part exchange my vehicle?

Once you have received a price for your part exchange, you will need to bring the following information to complete the exchange:

  • V5/Log Book
  • MOT Certificate
  • Spare Keys (if available)
  • Service History (if available)

The Benefits Of Part Exchanging Your Vehicle

There are many advantages to part exchanging your vehicle as opposed to selling it privately:

  • Convenience: save yourself the time and effort of having to sell your old car or van
  • Save money: put the value of your old vehicle towards the purchase of your new one, reducing the total amount you pay for it

The Benefits Of Part Exchanging With Motorpoint

In addition to the benefits listed above, there are additional advantages when you part exchange your old vehicle for a new one with us:

  • Competitive price - we can sell your old vehicle directly to trade without involving a third party, meaning we can offer you the best price for your current vehicle
  • Hassle-free - we will help settle any existing finance and deal with all the paperwork when you trade in your old vehicle
  • Quick - once your price has been agreed, we can take your old car or van and you can drive home in your new purchase on the same day

Part Exchange Value Of A Car

How is the part exchange value of my car or van calculated?

Our team uses an in-house valuation system based on data from CAP (the market leading automotive industry database) to give you an immediate price for your vehicle.

The only information you need is your registration number and current mileage, along with some details about your car. From this, we will be able to provide a guide price and start the process of part-exchanging your car or van.

Is the part exchange price guaranteed?

Our calculator will give you a price based on some assumptions about the condition of the car and service history (as provided by you).

Our team will be able to provide you with a more specific price once they have seen your car and help you with the next steps.

How long is my part exchange quote valid for?

This will vary depending on where you part exchange your vehicle. At Motorpoint, your part exchange quote will be valid for 14 days, from the day of quotation.